Special-Use Property

Commonly associated with properties that are either designed or are modified for a particular type of tenant. They are not suitable for multi-use (use by a wide variety of tenants such as an office, retail or industrial building). The modifications are significant, future users of the property would have to incur significant costs for conversion to their use. Examples of special-use include automotive repair (if pits or other permanent modifications made to property), car wash, restaurant, night club, event center, funeral home, assisted living and self-storage. VII lends 80% on these types of properties.