Embarking on a commercial property loan is a business adventure, and like most adventures, it is filled with a lot of unknowns. If it’s your first time buying commercial property, consulting a CPA or financial firm is never a bad idea – after all, this is your livelihood you’re discussing. Although it’s tempting to buy the first commercial property you really fall in love with (And nobody is saying you shouldn’t) there are some definite non-negotiable matters you need to come to terms with (to yourself, and maybe others). Remember, a loan is a commitment, and while you can always resell, it is better to not make a commitment that doesn’t work for you from the beginning. Remember there’s a perfect situation and commercial property out there for you – patience is key! Ultimately, your lender and your credit history is going to be key, but three other factors are highly important when choosing “The one”.

Three Things To Consider When Getting A Commercial Property Loan

  • Your Timeframe
  • Interest Rate Terms
  • The Actual Nature of The Property

It’s extremely helpful if you can consult with a project manager to get an accurate timeframe on how long it’s going to be from the time you secure your commercial building until the time it starts to bring you cashflow. This could be weeks, months, or even years – and it could make or break or your success, so be realistic. Short term bridge loans are possible while you add on/fix up properties that have several tenants but your dream is to upgrade the property, take on more tenants, and make more revenue. You must consider short term and long term goals – and with them, the loans that best suit those desires.
Interest rates aren’t always in your control, but here’s where your credit history comes into big time play. If you need help with fixing your credit, find a reputable lawyer or agency to do that. You have to consider what you really need – the more flexibility you have with your loan, the more interest you are going to pay, but it may be worth it depending on your business venture.
Finally, the actual nature of the property can’t be overlooked. Some lenders consider certain types of commercial business more financially risky – such as a bar or club. Some lenders may have catastrophic or environmental concerns about gas stations truck stops, while other institutions don’t consider these things a big deal. In general, office space, apartment buildings, daycares etc. are looked at low-risk investments – they generally already have established tenants and they aren’t likely to be in an environmental disaster or victim of other catastrophic events. Your particular commercial interest will be a huge player in how and where you secure a commercial property loan.
 
 
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

Prime Mixed Use Income Producing property for sale. Total of 6 units. There are 2 Commercial units on ground floor facing Truman Ave. Both Commercial spaces now occupied by the Seam Shoppe, a long term, stable tenant. On the 2nd floor there are 4 good size apartments. Each 1bedroom and a loft bedroom and 1 bath. Each has use of large, outdoor deck in back. Potential Gross rental income approx. $15,000/mos.Total of 6 Water and Electric Meters. Rear parking lot for 4 + or - cars. Building in good condition and well maintained.Excellent Replacement Property for a Buyer looking to perform a 1031 Exchange.Owner may consider Seller financing to a Qualified Buyer at Seller discretion. $2,150,000 Active

1109 Truman Avenue KEY WEST, Florida

4 Beds 6 Baths 4,410 SqFt

Prime retail location on busy 300 block of Duval St with great visibility at the corner of Eaton St. Vacant and available now for long term, quality tenant. Perfect for Retail or small Restaurant.Unit B is approx. 880 sf. and has been renovated including new flooring, ceiling tiles, lighting, several sinks plumbed in with front reception area and prep & storage rooms in back. Exterior of the entire building has been renovated as well including new facade and steps. Unit B has a private ADA compliant bathroom. Thousands of tourist walk by daily and nightly. Ample customer and employee parking in the rear. Great mix of tenants including Wendy's, Wicked Lick Ice Cream, Kermit's Key Lime Pie and a large space dedicated to a Bank of America ATM machine for quick cash.Base rent is $80/sf plus $24.40/sf. NNN = $7,656/ mos. rent quoted, plus additional Florida Sales Tax equals total rent per mos. $7,656 Active

335 Duval Street B KEY WEST, Florida

2 Baths 6,495 SqFt

Opportunity to purchase prime Duval St. Real Estate with a very valuable, full, unrestricted 5COP Liquor License BEV5400029 included. An opportunity like this is rarely available anywhere in Key West or Monroe County. State issued Liquor License alone known to have sold recently well over $1 Million. Terrific Upper Duval St. corner location with high visibility from 43' frontage on Duval St. There is all day & night foot traffic from many Hotels & Guesthouses in the immediate area. Near the Southernmost Point in Key West. Historically this property has been a popular Restaurant & Bar and Retail store. Very solid 2,760 sf. CBS Building is currently configured with retail display space and a large, unused kitchen with existing Hood. There is also storage on 2nd floor in the attic. Additional storage, restroom and former Back bar with access off Amelia St.Large corner lot at Duval St. and Amelia St. with 98.75' frontage on Amelia St. x 43.18' on Duval St. Same owner since 2012 motivated to sell, Bring Offers! Existing business not included in sale. $4,500,000 Active

1114 Duval Street KEY WEST, Florida

2 Baths 2,760 SqFt

Buy a Bar & Liquor Store in Key West! Dons' Place is the opportunity to purchase an Iconic and Landmark Indoor and Outdoor Bar & a Liquor Store with a Drive Through! This package is rarely available in Key West or anywhere in the Keys. Big bonus is that is includes a very valuable, full, unrestricted & transferrable 5-COP Liquor License that includes Tobacco & Retail Beverage with no food requirement! BEV 5400161.Monroe County Liquor Licenses are valued well over $1 Million and 2024 County Assessed Values of the two real estate parcels is over $2.5 Million. Total Asset value alone is over $3.5 Million.The Indoor Bar and adjoining Liquor Store are in the main corner, CBS 2,396 sf. building along with men's and women's restrooms, office & storage. The building also operates maybe the only drive through, pick up window for Beer, Wine and Liquor left in the Keys! Several major repairs include new AC unit, new Bar and plumbing. New roof in 2022. There is an assuring backup propane Generac Generator with automatic transfer. All Furniture, Fixtures and Equipment included.Outside is another 1,588 sf. covered outdoor Bar for entertaining, weddings, special events and parties. There is bar and table seating and a separate small office/storage building. The Bar and Liquor store are popular with both tourists and locals. The business is family managed with absentee owners and a few long time employees. Current Bar hours are 7am until 4am, 7 days per week. The Bar and Liquor Store are a money making operation with so many opportunities for growth for a new owner. Currently there is no food service on site, only pre-packaged snacks sold, but HNC -1 Zoning allows Restaurants and likely Food Trucks for added income.Same absentee owners since 1998 and first time listed for sale. Sellers may consider Seller financing to a Qualified Buyer at Sellers discretion. $4,750,000 Active

1000-1006 Truman Avenue KEY WEST, Florida

2 Baths 2,756 SqFt


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