The exact length and rate will differ depending on the type of loan you get and from which lender. However, typical commercial loans are between 20 – 25 years and have interest rates currently between 5% – 8%. Of course, interest rates will fluctuate over time.
If you’re a prime borrower you might be able to get a rate around 4%, which it sounds like you might be. Check out our article on commercial real estate loans for more information.