Borrower requested a $280,000 loan to refinance a .96 acre commercial property in Valrico, Florida. The property features two key buildings (1 SFR & 1 MFMH and a series of 9 storage sheds and an RV pad with the building total of 2,928 GSF (2,574 GLA) as reflected on the county property appraisers’ records DKC has a certified appraisal at $536,000 for the property as-is.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
