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11088 New Halls Ferry Rd Florissant, Missouri 63136

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$0.00 raised / $1,200,000.00 needed
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About the Loan Pie Grading System

Our grading system reflects our real estate experts' opinions on the quality of investment. These opinions are based on the borrower's credit and experience, the property's location and demographics, and market conditions. The better the grade, the more stable the investment. Lower grades represent opportunities offering more risk and reward.

Amortization Term
20 years
Loan Term
2 yrs
Min. Investment
$10,000
Interest Rate
10.00%
Investment Type
Retail
  • Overview
  • Property
  • Market
  • Financial
  • Additional Loan Servicing
  • Documents

Overview

Como Health LLC won a license in January 2020 to operate a medical marijuana dispensary at this location. Como Health Holding Company LLC shall purchase the land and construct the facilities and pay the debt service on the loan. The architect's plan calls for a 4000 sqft building on the lot with enhanced security features and high end finishes. Como Health LLC will lease the building for a 5 year term with two 5 year options to extend. The monthly lease will adequately cover all of the the costs to facilitate the payback of the loan. Loan Pie will fund the loan incrementally as the construction phases are completed to ensure completion on time and on budget.

DISCLOSURE: Jason Corrado,the CEO of Loan Pie,the lender, is also the CEO of Como Health LLC and a member of Como Health Holding Company LLC. He has a financial interest in all of the companies involved in the proposed transaction.

 

Property Type
Retail
Occupancy
Non Owner Occupied
Occupancy Percentage
100%
Borrower Name
COMO HEALTH HOLDING COMPANY LLC
Value of Property
$1,500,000.00
Original Loan Amount
$1,200,000.00
Lien
1
First Interest Adjustment Rate
0.00%
Current Interest Rate
10.00%
Loan Term
20 years
Current Payment
$11,580.25
Next Payment Due Date
05/01/2020
First Payment Date
05/01/2020
Monthly Escrow Payment
$1,800.00
Pay String (Last 12 Months)
0
Unpaid Principal Investment
$1,200,000.00
Servicing Status
Current

Property Details

Property Type
Retail
Year Built
2020
Number of Bathrooms
3.0
Number of Bedrooms
0.0
Square Feet of Property
4,000 sq ft
Square Feet of Lot
104,000 sq ft

Market

Market Data for 63136

Population Overview

Population48560
Population Density4589.79
Number of Housing Units21585
Density of Housing Units1736.86

Racial Makeup

White138.04
African American219.97
Asian130.21
Hispanic or Latino of any race130.73
Two or More Races131.46
Other Races130.23
Native American130.19
Pacific Islander130.02

Gender Makeup

Male174.01
Female186.02

Household Makeup

Average Household Size2.63
Number of Households18376
Average Family Size3.20
Number of Families12501
Married couples living together540.76
Individuals546.18
Female householder with no husband present559.94
65 years of age or older and living alone509.08
Male householder with no wife present514.45

Age Breakdown

Under the age of 18159.05
from 18 to 24140.81
from 25 to 44154.37
from 45 to 64155.21
65 years of age or older140.61
Median Age33.1

Financial

Funding Amount
$1,200,000.00
Interest Rate
10.00%
Purchase Price (+ Closing Costs)
$700,000.00
Loan Term
20 years
Total Project Cost
$1,500,000.00
Est. Rehab Costs
$500,000.00
Est. Repaired Value
$1,500,000.00

Additional Loan Servicing

BPO Date
01/28/2020
BPO Value
$1,500,000.00
Current LTV
80.00%
Loan Purpose
PURCHASE AND CONSTRUCT RETAIL BUILDING
Loan Type
Construction
Bankruptcy Flag
No
Mortgage Insurance Flag
No
Modification Date
01/04/2019
Original Appraisal Amount
$1,500,000.00
Original Appraisal Date
01/28/2020
Origination Date
04/01/2020
Maturity Date
03/31/2022

Documents

There are currently no documents for this property.

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