The subject is part of an overall 120 acre tract designated for mixed-use development, including the 16 acres sold to Wal-Mart (Nov 2009 by borrower for $3,000,000) along the major vehicular corridor. Plans call for two retail buildings 37,000 and 33,000 SF. The purpose of the loan is to continue to improve the land and negotiate more lease contracts in order to secure a commercial loan as Wal-Mart begins their build later this year.

Great Opportunity to earn 11% on an income producing property in a thriving real estate market