Mary Esther, FL — $2,000,000 Restaurant Refinance
A $2,000,000, 15-year fixed-rate refinance on an owner-occupied restaurant in Mary Esther, FL, underwritten on market rent rather than declining tax-return sales.
$2,000,000
Loan Amount:
LTV %:
40%
Mary Esther
City:
Owner-Occupied Restaurant
Property Type:
Refinance
Transaction Type:
A restaurant owner in Mary Esther, FL had two years of declining gross sales on their tax returns — even with substantial equity in the property, traditional lenders and credit unions were unwilling to approve financing.
The revenue trend overshadowed the property's true underlying value.
Essencap underwrote the deal based on achievable market rental income and the strength of the real estate itself, rather than historical sales performance.
Essencap financed $2,000,000 at a 15-year fixed rate, 40% loan-to-value, with no deposit relationship required.
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