Parking looks simple and underwrites as anything but. Revenue arrives in three very different forms — monthly contracts, transient hourly, and event parking — and a lender discounts them in that order, because only the first is contractual.
What the file turns on
The mix of contract, transient and event revenue, who the monthly contracts are with, a current structural report on any elevated deck, and the cost of the next concrete repair cycle.
Where deals fail
Revenue leaning on one nearby employer or venue, deferred structural repair on a post-tensioned deck, and a surface lot valued as parking when its real value is the development underneath it.
Surface lots are a land file
A surface lot is usually underwritten as land with interim income, which changes the equity requirement and the questions about exit.
Our minimum loan is $200,000. We are a direct commercial lender working across the 43 states we serve, in business since 1998. We do not publish a rate for this product because the number depends on the file — call and we will quote the deal in front of us.
Land, Development & Ranch Loans in Texas · Commercial lending · Investment property financing · All loan types · All property types