- Loan Amount: $155,800
- Rate: 9.99%
- Appraisal Value: $ 382,000
- Term: 60 months
- Lien Position: First
Humboldt County, CA
A regional convenience store and fuel operator found himself with the opportunity to reduce rent costs by about 98% if he could find a commercial loan secured by a gas station on ground lease property. Although banks are wary of both ground leases and gas stations, ReProp was able to put financing together that saves our Borrower about 50% in existing costs.