Defaulted Commercial Note for Sale

[Thomas Wright]

This commercial note secures 3 separate buildings. 

Building #1 - Approx 3,000 sq ft and is rented to a bar for $2500 per month

Building #2 - Approx 2,500 sq ft and is rented to a towing company for $2100 per month

Building #3 - multiple tenants and is anchored by a pet grooming/daycare facility - $15,500 (approx. 2,000 sq ft still vacant)

Car Lot - $700 a month

This note has been in default for 3 years.  The mortgagor's attorneys have been dragging this out.  The note is also secured by the pet grooming business as collateral (the mortgagor owns the pet grooming business as well).

Currently the note has a balance of $1,350,000

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[James J. Balter]

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