Permanent Loan - Refinance
- 38,767 SF Freestanding Grocery Store
- Rochester, NY
Axiom Capital Corp. has arranged $2,630,000 in permanent financing for the refinance of a freestanding grocery store in Rochester, NY. The non-recourse loan was for 10 years amortized over 25 years. The loan demonstrated a sub 65% LTV at the time of closing.
The Property is located in the southeast Rochester area within five minutes of downtown Rochester. The Property provides excellent access and visibility from major roadways and residential neighborhoods and sits 1.0 mile (4 minutes) away from I-490 and 2.5 miles (6 minutes) from Route 590.
The immediate area has experienced dramatic change with the construction of new apartments, both in newly constructed buildings as well as in rehabilitated former industrial buildings. Major retailers in the surrounding area include KFC, Tim Horton’s, KeyBank, Monroe Muffler, Verizon, Wegmans, CVS, McDonald’s, Dunkin Donuts, Starbucks, and Wendy’s.