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839 Meramec Station Rd Valley Park, Missouri 63088

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$0.00 raised / $450,000.00 needed
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What's This?

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 YEARS
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. General Real Estate HoldingsĀ LLC shall purchase the land and construct the facilities and pay the debt service on the loan. The architect's plan calls for a 2500 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 costsĀ 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 General Real Estate Holdings LLC and 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
GENERAL REAL ESTATE HOLDING COMPANY LLC
Value of Property
$600,000.00
Original Loan Amount
$450,000.00
Lien
1
First Interest Adjustment Rate
0.00%
Current Interest Rate
10.00%
Loan Term
20 years
Current Payment
$4,342.59
Next Payment Due Date
06/01/2020
First Payment Date
06/01/2020
Monthly Escrow Payment
$1,750.00
Pay String (Last 12 Months)
0
Unpaid Principal Investment
$450,000.00
Servicing Status
Current

Property Details

Property Type
Retail
Year Built
1989
Number of Bathrooms
2.0
Number of Bedrooms
0.0
Square Feet of Property
1,143 sq ft
Square Feet of Lot
15,246 sq ft

Market

Market Data for 63088

Population Overview

Population8269
Population Density1385.09
Number of Housing Units4018
Density of Housing Units625.29

Racial Makeup

White848.52
African American766.67
Asian769.17
Hispanic or Latino of any race766.49
Two or More Races765.22
Other Races764.78
Native American763.31
Pacific Islander762.95

Gender Makeup

Male809.7
Female816.19

Household Makeup

Average Household Size2.16
Number of Households3733
Average Family Size2.98
Number of Families1917
Married couples living together3364.06
Individuals3367.66
Female householder with no husband present3309.23
65 years of age or older and living alone3295.93
Male householder with no wife present3299.63

Age Breakdown

Under the age of 18784.75
from 18 to 24771.4
from 25 to 44796.78
from 45 to 64785.62
65 years of age or older774.25
Median Age34.9

Financial

Funding Amount
$450,000.00
Interest Rate
10.00%
Purchase Price (+ Closing Costs)
$280,000.00
Loan Term
20 years
Total Project Cost
$500,000.00
Est. Rehab Costs
$220,000.00
Est. Repaired Value
$600,000.00

Additional Loan Servicing

BPO Date
01/09/2017
BPO Value
$280,000.00
Current LTV
75.00%
Loan Purpose
PURCHASE AND CONSTRUCT RETAIL BUILDING
Loan Type
Purchase
Bankruptcy Flag
No
Mortgage Insurance Flag
No
Modification Date
01/09/2018
Original Appraisal Amount
$280,000.00
Original Appraisal Date
01/09/2017
Origination Date
05/01/2020
Maturity Date
04/30/2022

Documents

There are currently no documents for this property.

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