30 year plus very experienced, successful commercial real estate investors and business owners of “Vivative Ventures Inc.”, a team of real estate professionals who specialize in revitalizing commercial buildings, sought a 1st Trust Deed refinance loan on this commercial building that is fully entitled, zoned GC – General Commercial in the heart of Rancho Cucamonga, San Bernardino County, CA.
This loan features $2,760,000 Gross and $2,996,082 Net Investor Equity Protection on the “As Is” appraised value of $5,010,000. The city’s active revitalization plan will further add to its future value and strategic location. Website for borrowers’ “Vivative Ventures Inc.” Live, Thrive in Inspired Space (vivative.com) with history of similar commercial revitalization projects and professional experience.
Borrowers are converting this subject property into “The Alta Loma Packing House”, a microbrewery as well as facility for large indoor and outdoor events will be modeled after the popular “Anaheim Packing House” in Orange County, CA. The city of Rancho Cucamonga and its Mayor are in support of this “Alta Loma Packing House” project as the city has publicly marketed this subject property as one of its centerpieces to its revitalization General Plan. A copy of the city’s General Plan with reference to “The Alta Loma Packing House” for subject property is within the investor dropbox.
View Virtual Walkthrough of Subject Property Alta Loma Packinghouse – Virtual Tour | Matterport Discover
The subject property is a 28,136 SF rentable single use interior space commercial retail building sitting on a very large 60,593 SF lot in the heart of Rancho Cucamonga (in the Alta Loma community), at the center of the 21-mile Pacific Electric walking, running equestrian and bicycle trail. The subject property has a total of 88 parking spaces (49 on site; 39 leased which are located adjacent to the subject to the west). The subject property is very well located at the intersection of Roberds Street and highly traveled Baseline Road with close proximity to the 10, 210, and 15 freeways. The subject property has significant visibility with 310± SF frontage on Roberds St. and 216.85± SF frontage on Amethyst Ave. The 28,136 SF wood framed, stucco exterior commercial retail building with 25 feet building height, 2 roll ups and is fully entitled for its projected use as a microbrewery.
This commercial property sits within the “aesthetically coined” historical district of Rancho Cucamonga and is considered as well as named in the city’s general plan as a strategic cornerstone of the Rancho Cucamonga city’s approved General Plan to revitalize this area. However, important note and benefit to this TD, this subject property IS NOT a registered historical building and thus building modifications can be made in accordance with its zoning; General Commercial.
Exit strategy: Construction Loan. The operator – who is one of the investors in this project – will cover and finalize its own tenant improvement costs for its operation. The negotiated lease terms discussed are $1.65/Ft NNN + 7% of the gross.
What we like about this Trust Deed opportunity:
- A team of highly experienced commercial real estate investors / professionals
- Commercial Real Estate; included in Rancho Cucamonga’s Revitalization General City Plan\
- Low 44.91% LTV / 40.19% Net LTV on Appraised Value
- $2,760,000 Gross and $2,996,082 Net Investor Equity Protection
- 13.00% Investor Yield Return
- 9 months Prepaid Interest
- 6 months Guaranteed Interest
- New Phase 1 Environmental Completed with No Further Action Required
- Exit Strategy: Construction Loan
- Land Value potential