facebook
Traded Co logo
Submit

Business Finance Capital CDC Provides $1.35M Acquisition Loan For Residential Property In North Hills

Property Image
FINANCED
$1,350,000

Idaho

See Similar Deals
Mixed-use1,124 SF
Financed 09/01/2023
the dealplayerscompscontact
Property Image
FINANCED

Business Finance Capital CDC Provides $1.35M Acquisition Loan For Residential Property In North Hills

15508 Plummer St.

See Similar Deals
Mixed-use1,124 SF
Financed 09/01/2023
the dealplayerscompscontact
Contact now

Summary

IDAHO
Asset Type:Mixed-use
Price Per Square Foot:$1,201
Total Square Footage:1,124 SF
Transaction Type:Loan

The property involved in this transaction is located at 15508 Plummer Street in North Hills. It is a residential property with grandfathered commercial zoning, spanning over 1,124 square feet. The transaction took place for a price of $1,500,000.

Summary of transaction details:

  • Property Type: Residential (Grandfathered Commercial Zoning)
  • Transaction Amount: $1,500,000
  • Address: 15508 Plummer Street
  • Market: North Hills
  • Loan Amount: $1,350,000
  • Loan Type: Acquisition
  • Lender: Business Finance Capital CDC - Lee Kleinman
  • Landlord: Michael Blodgett
  • Broker: Michael Sharon - illi Commercial

The loan for this transaction was provided by Business Finance Capital CDC, with Lee Kleinman representing the lender. The borrower in this case is Michael Blodgett, who is also the landlord. Representing the borrower as a broker is Michael Sharon from illi Commercial.

Players

Business Finance Capital
Business Finance Capital
LENDER

Details

FINANCED
IMAGE: Lee Kleinman & Michael Sharon DATE: 09/01/2023 ADDRESS: 15508 Plummer Street MARKET: North Hills ASSET TYPE: Residential (Grandfathered Commercial Zoning) ~ SF: 1,124 LENDER: Business Finance Capital CDC - Lee Kleinman (@BusBnkr) LANDLORD: Michael Blodgett BROKER: Michael Sharon - illi Commercial (@illiCommercial) LOAN AMOUNT: $1,350,000 LOAN TYPE: Acquisition LOAN TERMS: This was an owner-user purchase through the SBA 504 program where the bank provided a 50% 1st mortgage and the SBA will provide a 40% 2nd mortgage. This residential property with grandfathered commercial use consists of 1,124 SF situated on a .87 acre lot and traded for $1,500,000

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,350,000.00

Monthly NOI$9,000.00
Monthly Debt Service$8,532.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00