Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Presenting an outstanding commercial building in a prime high-traffic location, this property is constructed with concrete blocks and features a two-story design. The building showcases a blend of functionality and durability, ensuring a solid foundation for your business endeavors.

With a site area of 6,907 square feet and a generous gross floor area of 6,433 square feet, this property provides ample space to accommodate a wide range of commercial ventures. Let's explore the unique features and layout of each floor.

The second floor encompasses 3,216.50 square feet of well-designed office space, offering a professional and comfortable environment for your team. With four bathrooms available, this floor can be conveniently divided into four separate office spaces, allowing for flexible usage or the potential to generate additional income.

Downstairs, the ground floor showcases a versatile layout tailored to meet various business needs. The retail/showroom area spans 1,608.25 square feet and boasts impressive 14-foot high ceilings, creating a spacious and inviting atmosphere for showcasing products or engaging with customers. Additionally, there is a work/storage area of the same size, providing ample room for inventory, equipment, or other operational requirements.

To ensure convenience and functionality, the ground floor features two well-appointed restrooms. One restroom is equipped with two toilets and a sink, while the other offers one toilet, one urinal, and a sink. These facilities cater to the comfort of both customers and staff.

The building is equipped with roll-down hurricane shutters for all windows, both upstairs and downstairs, ensuring the utmost protection during inclement weather conditions. The exterior doors are heavy-duty steel doors with steel frames, providing robust security and peace of mind. The workshop/storage area features a convenient roll-up door with a steel grill, facilitating smooth loading and unloading operations.

The retail/showroom area boasts an inviting double storefront door with fixed windows, complemented by aluminum jalousie windows at the top, allowing natural light to fill the space while maintaining privacy. Additionally, all storefront windows and doors are equipped with electric roll-down hurricane shutters, providing both convenience and security.

For parking convenience, the spacious parking area is covered with asphalt tar, offering a well-maintained and easily accessible space for both employees and customers.

Don't miss the opportunity to own this exceptional commercial building in a prime high-traffic location. Its sturdy construction, versatile layout, and protective features make it an ideal choice for businesses seeking visibility, functionality, and long-term success. Schedule a visit today to experience firsthand the potential this property holds for your commercial success.