Borrower requested a $310,000 loan to refinance a commercial property in Clearwater, Florida. The property was previously known as Hamburger Mary’s, a single-story restaurant/retail building with 6 baths at 7,932 sq/ft sitting on 1.93 acres. Borrower plans to use the loan proceeds to make necessary improvements to the property, to then sell as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $540,000 new construction loan request from a returning DKC Lending borrower. Once finished, the property will feature four bedrooms, four bathrooms, a three-car garage, a boat dock, a boat lift, and 2,404 square feet of living space. The borrower primary exit strategy for this loan is to sell the property.
- Loan Amount: $540,000
- Date: April 2025
