Equity Cash Out Loan for Retail Condo in Fort Myers Beach, Florida
$250,000
)
Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
06/17/2026
Property Type
Property City
Fort Myers Beach
Property State
FL
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$558,609
Loan-to-Value
44%
Location Type
Suburban
Property Condition
Excellent
Occupancy at Closing
Tenant-Occupied
Number of Units
1
Building Square Footage
613
Borrower's Plan
Continue Rental
Exit Strategy
Sale
Borrower Credit Rating
Fair
Deal Summary
Gelt Financial, a direct hard money lender, funded a $250,000 senior-lien position cash-out refinance loan secured by a free and clear retail condo operating as a coffee shop in Fort Myers Beach, FL. The property’s value is approximately $558,609, per our conservative internal valuation. This was a low-doc loan, and we did not require a minimum credit score or appraisal despite the borrower’s fair credit. The flexible structure provided the borrower with the time and capital needed to improve their financial position before selling their business and property. The subject property was in great condition and tenant-occupied at closing. The unit is approximately 613 square feet. The loan term was set at 12 months interest-only. This hard money, interest-only loan was funded in June 2026.
Funded By
Gelt Financial, LLC
Creative Private Financing for Commercial Real Estate since 1989