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Commercial DSCR

Warehouse
DSCR Loans.

Buy, refinance, or take cash out of a warehouse, flex, or light industrial building. The loan looks at what makes these buildings work: the tenants, the leases, and the building itself, from clear height to dock doors.

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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
Single tenant and multi-tenant
How it works

See how
Warehouse DSCR works

Warehouse DSCR covers warehouse, flex, last mile, and light industrial buildings with business or logistics tenants. Demand for small-bay and last mile space has stayed strong, and well-located buildings tend to re-lease quickly when a tenant leaves.

The loan is based on the leases in place. Single-tenant buildings rely on one tenant's lease and credit, and multi-tenant buildings spread that risk across several. The building itself matters too: clear height, dock and drive-in doors, and how much of the space is office. Terms typically run 5 to 30 years, with 30 year loans available, and maximum LTV is typically 75%.

  • Purchase a warehouse, flex, or small-bay industrial building
  • Refinance light industrial debt, including a maturing bank loan
  • Take cash out typically up to 75% LTV after you stabilize occupancy
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

Warehouse 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+Warehouse, flex, last mile, and light industrial
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.
Tenancy
Single tenant or multi-tenant
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
Building
Clear height, dock doors, and office share reviewed
Prepay
None to step-downSome loans of $1M and up have no prepayment penalty
Minimum occupancy
70%Lower considered case by case
Lease term
Weighted average remaining 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

Warehouse DSCR FAQ

Do warehouse 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 warehouse DSCR include flex and light industrial?+
Yes. Warehouse, flex, last mile, small-bay, and light industrial buildings are all common on this loan.
Is single tenant or multi-tenant easier to finance?+
Both work. Single-tenant buildings depend on one lease, so the tenant's strength and remaining term matter a lot. Multi-tenant buildings spread the risk across several tenants, so one move-out has less effect.
How much office space can a flex building have?+
Flex buildings with a meaningful office share are common. A building that's mostly office is reviewed more like an office property.
Does clear height matter?+
It matters for how easily the building would re-lease. Buildings with good clear height, dock or drive-in doors, and truck access appeal to more tenants, and that supports the value.
What if my tenant's lease ends in two years?+
The remaining term is weighed against the loan term and the building's appeal to other tenants. A tenant with a long history in the building and renewal options helps.
Is cold storage eligible?+
Case by case. Cold storage involves specialized equipment and a narrower pool of tenants, so send the details.
My warehouse is vacant. What are my options?+
A bridge loan can carry the building while you find a tenant, then refinance into Warehouse DSCR once it's leased. See Warehouse Bridge Loans.
Where does Capituro offer warehouse 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
Multi-tenant strip center with storefronts and parking.
Retail

Strip centers, standalone retail, and neighborhood commercial with tenant income.

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

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

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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