This topic contains 2 replies, has 2 voices, and was last updated by Nishank Khanna 2 days, 2 hours ago.
- August 8, 2018 at 11:09 pm #194883
So basically I want to know how much of a downpayment is needed to purchase a $ 5,000,000 existing gas station including a 1/2 acre of land. Thank you.August 8, 2018 at 11:13 pm #231138
Dock David TreeceModerator
Thanks for your question. Most commercial loans require a down payment of 10 – 25% ($500,000 – $1.25MM) but it really depends on the lender and what type of loan you get.
For more information on different types of commercial real estate loans available and their typical down payments, be sure to check out our article on 6 Types of Commercial Real Estate Loans.
Hope this helps – best of luck to you and your client!
DockAugust 14, 2018 at 9:18 pm #233015
Does your client have other businesses that generate revenue? If they’ve been in business for 2+ years and have at least $15K per month in revenue, they might qualify for either a small business loan or a line of credit.
Hope this helps.