FINANCEDRetail
Justin Khorvash Facilitates Assumption And Purchase Of Non-performing Loan On North Las Vegas Retail Property
3960 West Craig Road, North Las Vegas, Nevada 89032, United States
$5,962,544
$112/SF
Building Size
53,184 SF
Asset Type
Retail
Closing
May 31, 2022
About this deal
AI
The property involved in this transaction is a retail asset located at 3960 & 4040 W. Craig Road in North Las Vegas. It has a total area of 53,184 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,962,544
- Lender: Justin Khorvash
- Loan Type: Purchase of Non Performing Loan; and facilitated an assumption of the loan with $1,150,000 pay down at closing.
- Loan Terms: 12-Months at 7.75% + 12-Months at 1-Month LIBOR + 7.65%
Justin Khorvash represented the lender in this transaction.
Players
North Las Vegas Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.66%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93