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Commercial DSCR

Retail
DSCR Loans.

Buy, refinance, or take cash out of a strip center, a standalone store, or a neighborhood retail building. The loan follows the leases: who the tenants are, how long they're signed for, and who pays the expenses.

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Typical terms
$500K
Min loan
$10M+
Max loan
75%
Maximum LTV
30 yr
Loans available
0.9 DSCR from $500K to $3M, so you can often borrow more
Purchase, refinance, and cash out
NNN, modified gross, and gross leases
How it works

See how
Retail DSCR works

Retail DSCR covers strip centers, standalone retail buildings, and neighborhood commercial properties with tenant income. A retail building is only as strong as its leases, so the loan is built around them: tenant by tenant, lease by lease, including who pays taxes, insurance, and common area costs.

National and regional tenants with long leases support the most loan, but plenty of strong centers are full of local businesses that have been there for years. Vacant suites are counted as vacant, and leases that expire during the loan term are weighed against the rest of the rent roll. Terms typically run 5 to 30 years, with 30 year loans available, and maximum LTV is typically 75%. Buildings leased to national brands like Whole Foods, Home Depot, and Chipotle have their own terms, with no prepayment penalty, on our NNN and Net Lease Loans page.

  • Purchase a strip center, standalone store, or neighborhood retail building
  • Refinance retail debt, including a maturing bank loan
  • Take cash out typically up to 75% LTV on a center you already own
See what you can typically borrow.
Share the address. We will confirm the fit and send back typical terms.
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Typical terms

Retail DSCR terms

These are typical commercial DSCR terms for this property type. Your quote depends on the building.

Loan Amount
$500,000 to $10,000,000+Single tenant and multi-tenant retail
Loan purpose
Purchase, rate-and-term, cash outYou can buy, refinance, or take cash out
Maximum LTV
75%Including purchase, refinance, and cash out
Loan Term
5 to 30 yearFor qualifying loans
Minimum DSCR
0.9From $500K to $3M. 1.25x on $3M+.
Min DSCR on loans of $3M+
1.25xWhen the loan is $3M or more, rent has to cover at least 125% of the payment.
Tenant mix
National, regional, and localCredit tenants support the most loan
Paperwork
No tax returns, in many casesWe qualify on the building, not your personal income
Property Seasoning
As low as 1 dayNo 6 month wait on most cash out loans
Lease types
NNN, modified gross, and grossReimbursements counted as income
Prepay
None to step-downSome loans of $1M and up have no prepayment penalty
Minimum occupancy
70%Vacant suites counted as vacant
Rollover
Leases expiring during the loan term reviewed
Available in
35 statesAL, AK, AR, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MS, MO, MT, NE, NH, NM, OH, OK, PA, SC, TN, TX, VA, WA, WV, WI, WY, DC. Very rural areas within these states may be restricted.

Larger stabilized building? Interest-only and non-recourse terms are available from $2M on Interest-Only Commercial Loans.

Want a number on a specific building?
These are typical ranges. Send the address and we will send back terms on your deal.
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Common questions

Retail DSCR FAQ

Do retail DSCR loans require tax returns?+
In many cases no. The loan is based on the leases and the property's income, not your personal tax returns.
Does a vacant suite lower my loan?+
Usually, yes. A vacant suite is counted as vacant, not at market rent. Signing a lease on it before you apply is often worth more to the loan amount than a lower rate.
Do triple net leases help?+
Yes. When tenants reimburse taxes, insurance, and common area maintenance, more of the rent reaches your net operating income, which supports a larger loan.
What if my anchor tenant's lease ends during the loan?+
The remaining lease term on your largest tenants matters most. A renewal, or a long history of renewals, helps. If a major lease ends early in the loan term, expect the loan amount to reflect that risk.
Can I finance a single-tenant retail building?+
Yes. Single-tenant buildings are financed on the tenant's lease and credit. A national tenant with years left on the lease is a strong fit.
Are restaurants or gyms a problem as tenants?+
Not necessarily. They're reviewed like any other tenant, with a look at the lease term and how long the business has operated. A center with a mix of tenant types is usually stronger than one that leans on a single category.
How are reimbursements counted?+
Reimbursements tenants actually pay under their leases count as income. Expenses you can't recover under the leases come out of net operating income.
My center is below 70% occupancy. What are my options?+
A bridge loan can carry the center while you re-lease it, then refinance into Retail DSCR once it's stabilized. See Retail Bridge Loans.
Where does Capituro offer retail DSCR loans?+
In 35 states: Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming, plus Washington, DC. Very rural areas within these states may be restricted. Send the address and we will confirm whether your market and building fit.
Other property types

Other commercial DSCR types

All commercial DSCR
Two-story professional office building with trees along the street.
Office

Medical office, professional, and multi tenant office with stabilized leases.

Single-story warehouse with loading docks and a truck court
Warehouse

Warehouse, flex, and light industrial with business or logistics tenants.

Single-story childcare center with a fenced playground
Daycare

Childcare and daycare buildings with a lease or operating income.

Self storage facility with rows of drive-up units and roll-up doors
Self storage

Stabilized self storage with consistent occupancy and rental income.

Mid-rise apartment buildings over ground-floor retail along a city street.
Mixed use

Retail or office below with residential above, and other blended income buildings.

Single-story residential assisted living home with a wheelchair ramp and garden
Assisted living

Stabilized residential assisted living assets.

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