Every commercial property type earns money a little differently. Knowing what an underwriter will focus on for your type helps you show up with the right documents.
In short: LendingStreet finances commercial investment property that is leased to tenants, including mixed-use buildings, retail strips, small office, flex and light industrial, warehouse and apartment buildings with five or more units. Commercial and mixed-use loans are set on custom terms, typically $500K to $5M+, with larger loans possible. Each type is underwritten on its income, but the risks reviewed differ by type. Eligibility for specialty properties is confirmed deal by deal.
Our commercial programs are for investors. The property must be held as an investment and leased to tenants, not occupied by your own business and not used as your home.
Within that, the question for any property type is the same. How reliable is the rent, how much does the building cost to run, and how hard would it be to re-lease if a tenant left?
The table below is a quick guide. It is not a full eligibility list, and some properties within a type may need extra review.
| Property type | What underwriters focus on | Common investor situation |
|---|---|---|
| Mixed-use (retail below, apartments above) | Split between commercial and residential income, storefront lease terms | Main Street buildings, corner properties |
| Retail strip or storefront | Tenant mix, remaining lease terms, parking and visibility | Neighborhood strips with 2–6 bays |
| Small office | Lease rollover dates, local office demand, tenant improvement costs | Two-to-five tenant professional buildings |
| Flex and light industrial | Clear height, loading, tenant use, lease structure | Small-bay buildings leased to trades and service businesses |
| Warehouse | Single vs multi-tenant risk, condition of roof and slab | Older buildings with long-term tenants |
| Multifamily (5+ units) | NOI, occupancy, rent levels vs market | Small apartment buildings, value-add properties |
Some property types carry more specialized risk. That does not always mean no, but it usually means more questions and a narrower set of capital sources.
Tell your loan officer up front if the property is a special-use building, has a single tenant with a short lease, or has environmental history such as a former gas station or dry cleaner. Early disclosure saves weeks.
Example only, not a quote. An investor is buying a 9,000 square foot flex building for $1,050,000. It has three equal bays leased to an electrician, a cabinet shop and an HVAC contractor.
Each tenant pays $2,600 a month on a triple-net lease, so tenants reimburse taxes, insurance and common maintenance. Gross base rent is $93,600 a year. After a 7% vacancy allowance, a management fee and a capital reserve totaling about $14,000, NOI is roughly $79,600, which supports an assumed $735,000 loan with about $63,000 in annual payments at about 1.26x coverage.
| Line | Example amount |
|---|---|
| Purchase price | $1,050,000 |
| Base rent (3 bays) | $93,600 / yr |
| Vacancy, management, reserves | -$14,000 / yr |
| Net operating income | $79,600 / yr |
| Assumed loan (70%) | $735,000 |
| Assumed annual debt service | About $63,000 |
| Coverage | About 1.26x |
Two buildings of the same type can underwrite very differently because of their leases. A triple-net lease shifts expenses to the tenant and steadies NOI. A gross lease leaves the owner exposed to rising taxes and insurance.
Staggered lease expirations also help. Three tenants rolling in three different years is less risky than all three expiring in the same month.
Stabilized, well-leased buildings usually fit longer-term commercial financing. Buildings with vacancy, below-market rent or needed repairs often start with a short-term bridge loan and refinance later.
Send the property type, rent roll, leases and a few photos. Our financing team will confirm eligibility and bring back 2–3 options that fit the building.
Common types include mixed-use, retail, small office, flex, light industrial, warehouse and apartment buildings with five or more units. The property must be held as an investment and leased to tenants.
Specialty property types are reviewed deal by deal. Send the property details and operating history, and your loan officer will confirm whether a program fits before you spend money on reports.
No. LendingStreet finances investment property only. If your own company occupies the space, you would need owner-user financing elsewhere.
Properties with five or more units are underwritten as commercial multifamily, based on net operating income. Two to four unit properties are handled under residential DSCR programs.
It can, but the remaining lease term and the tenant’s business carry a lot of weight. A short remaining lease usually means more conservative terms or a bridge loan until the lease is extended.
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