Michigan Commercial Real Estate Loans
Capital for investors who buy, refinance, or build retail, office, industrial, and mixed-use property anywhere in Michigan. We size each loan around the project’s cost, value, and income rather than your tax returns, then move quickly: construction pricing from 9.5%, leverage up to 85% of cost, and closings in as few as 10-20 days.
- Ground-up construction, acquisition, bridge, and refinance financing
- Up to 85% loan-to-cost and up to 75% of completed value
- Retail, medical office, industrial, flex, self-storage, and mixed-use projects
- Underwriting that accounts for Great Lakes shoreline, floodplain, and wetland requirements
- LLCs, developers & foreign nationals welcome · all 83 Michigan counties
- Describe the propertyLocation, property type, land or purchase price, and total budget.
- Receive a same-day term sheetWe size the loan around cost, value, and expected income.
- Close and get to workYour first draw funds quickly, and later draws follow inspections.
Property types
Commercial properties we finance across Michigan
From a suburban Oakland County pad site to an industrial building near Detroit Metro Airport, we evaluate each project on its own economics:
Retail & Shopping Centers
Grocery-anchored strips, neighborhood centers, and pad sites in fast-growing suburbs.Industrial & Flex
Distribution buildings, small-bay flex, and warehouses near ports, rail, and interstates.Office & Medical Office
Professional suites, outpatient clinics, and specialty medical buildings near major hospital systems.Mixed-Use & Multifamily
Ground-floor retail with apartments or offices above, suited to walkable urban districts.Commercial financing
How a Michigan commercial real estate loan works
A commercial real estate loan is secured by property that earns income or houses a business, and lenders judge it mainly by what the asset can produce. That is different from a home mortgage. We review the purchase price or build budget, the likely rents, the location, and the plan, then structure funding to match. A buyer closing on an occupied center needs a different loan than a developer clearing a vacant lot, so we offer several paths instead of one rigid product.
For new construction, funds are released in stages as inspected work is completed, and you pay interest only on the balance already drawn. We lend up to 85 percent of total project cost, which includes land, hard costs, and soft costs, and up to 75 percent of the building’s projected value on completion. When the building is finished, you can sell it, refinance into a long-term loan, or use a one-time-close structure that converts automatically. Because Michigan projects can involve EGLE permits for wetlands, floodplains, inland lakes and streams, and Great Lakes shorelands, baseline environmental assessments on former industrial sites, and township or city site-plan approvals, and because the Michigan Construction Lien Act shapes draw and title procedures, we review those items early so your schedule is not derailed at appraisal or title.
| Collateral | The land and the commercial property being purchased, refinanced, or built (mortgage) |
| Loan amount | $100,000 to $100,000,000 |
| Construction leverage | Up to 85% of total cost · up to 75% of completed value |
| Construction structure | Interest-only · pricing from 9.5% · 12-24 month term · draws against inspected work |
| Michigan factors | EGLE wetland, floodplain, inland lake and stream, and Great Lakes shoreland (including critical dune and high-risk erosion) rules; baseline environmental assessments and brownfield incentives; Construction Lien Act practice; site-plan approvals run through cities, villages, and townships |
| Borrower | Individual, LLC, or development entity · foreign nationals eligible |
| Coverage | All 83 Michigan counties, from Detroit and Lake Erie to Lake Michigan and northern Michigan |
Loan programs
Michigan commercial loan programs
Pick the structure that fits where your property is in its life cycle:
Ground-Up Construction
Interest-only funding for new retail, office, industrial, and mixed-use buildings, released as work is inspected.
Land Plus Construction
Buy the parcel and fund the building together, so you are not arranging separate loans for lot and structure.
Acquisition & Bridge
Short-term capital to secure a property that needs lease-up, repositioning, or renovation before permanent financing.
Refinance & Exit
Take out a construction or bridge loan once the building is complete and leased, including one-time-close options.
Why build commercial in Michigan
Why investors choose to construct, not just buy
- Massive, fast-growing demandMichigan has about 10 million residents, a deep manufacturing and engineering base, and Great Lakes, rail, and international border-crossing access, and every household needs shopping, medical care, jobs, and storage.
- Building can beat buyingNew construction lets you design for modern tenants and lock in a cost basis that may deliver a better yield than purchasing a finished, fully priced asset.
- Many distinct marketsDetroit-area automotive and mobility, West Michigan healthcare and manufacturing, university towns like Ann Arbor and East Lansing, and Great Lakes tourism each create a different commercial niche.
- A lender that knows the stateEGLE permitting, shoreline and floodplain rules, Michigan lien rules, and township and city approval timelines are priced into our process from the first conversation.
Free tool
Commercial construction budget & yield calculator
Estimate total project cost, loan amount, required equity, and interest carry, then compare your expected net operating income to the all-in cost. The interest estimate assumes the outstanding balance averages about half the loan over the build. Illustrative only.
Your project
Illustrative only; not a commitment to lend. Excludes permits, impact fees, insurance, reserves, and closing costs. Interest rate and NOI are example inputs, not a quote or a forecast.
How we compare
CambridgeHomeLoan vs. typical Michigan banks
Community and regional banks can offer good terms to existing customers, but approvals often hinge on a long relationship and a slow committee process. Here is how our approach usually differs, with our advantages highlighted.
| Feature | CambridgeHomeLoan | Typical Michigan Bank |
|---|---|---|
| Qualifies on | Project cost, value & plan | Relationship plus the project |
| Documentation | Streamlined | Full financials, often deposits |
| Time to close | As fast as 10-20 days | Often 45-90+ days |
| Draw turnaround | Typically 3-5 days | Often 1-2 weeks or longer |
| Great Lakes shoreline & brownfield sites | Underwritten routinely | Often restricted |
| Exit options | In-house one-time-close | Usually a separate loan |
Bank column is a generic composite of commonly seen terms as of 2026 and does not describe any specific lender.
Top construction markets
12 Michigan cities where commercial construction makes sense
Michigan has very different markets, from the Detroit auto corridor and Ann Arbor to Grand Rapids, Lansing, and the Lake Michigan shore. Below is a snapshot of twelve active areas for commercial construction loans, with rounded population figures and the employers and centers that shape demand.
Detroit
Detroit is Michigan’s largest city and the center of the auto industry, with General Motors, Henry Ford Health, and the Detroit Medical Center as major employers. Midtown, Corktown’s Michigan Central campus, and the riverfront are drawing mixed-use, industrial, and medical projects, often with brownfield incentives.
Grand Rapids
Grand Rapids is anchored by Corewell Health, Amway, Meijer, and Steelcase, with the Medical Mile and downtown driving growth. Medical office, industrial and flex space, and mixed-use infill are steady project types in a diversified economy.
Ann Arbor
Ann Arbor is home to the University of Michigan and Michigan Medicine, supporting a strong research, healthcare, and technology tenant base. Land is limited, so medical office, lab-ready flex, and mixed-use projects dominate, with demanding local approvals.
Lansing
Lansing is the state capital, with Michigan State University next door in East Lansing, plus Auto-Owners Insurance, Jackson National Life, and General Motors plants. Government and university employment support office, medical, and retail projects at a moderate basis.
Sterling Heights
Sterling Heights is a major Macomb County suburb with a large automotive and supplier base, including Stellantis’ assembly plant, and the Lakeside Mall area for retail. Industrial, flex, and medical office projects fit the Van Dyke and Hall Road corridors.
Troy
Troy is a leading Oakland County corporate center, with Somerset Collection for high-end retail and offices for companies such as Kelly Services and Flagstar. Medical office, professional suites, and mixed-use fit the affluent, well-educated base.
Dearborn
Dearborn is home to Ford’s world headquarters, the Henry Ford Museum, Fairlane Town Center, and a vibrant commercial corridor along Warren Avenue. Industrial, flex, retail, and restaurant projects serve both corporate and neighborhood demand.
Kalamazoo
Kalamazoo combines Western Michigan University, Bronson Healthcare, and major medical-device and pharmaceutical employers such as Stryker and Pfizer. Medical office, lab and flex space, and student-oriented services are natural fits.
Flint
Flint has General Motors assembly operations, Kettering University, and significant redevelopment potential at a very low basis. Industrial reuse, medical office, and small-bay flex are typical projects, and Part 201 environmental review is important on older sites.
Traverse City
Traverse City anchors northern Michigan, with Munson Medical Center, the cherry industry, and strong seasonal tourism around Grand Traverse Bay. Hospitality-adjacent retail, medical office, and mixed-use are common, and shoreline and wetland rules need early review.
Novi
Novi sits at the junction of I-96 and I-275 in Oakland County, with Twelve Oaks Mall, the Suburban Collection Showplace, and ITC Holdings headquartered locally. Office, medical, hospitality, and retail projects benefit from heavy traffic and an affluent trade area.
Holland
Holland is a West Michigan city on Lake Macatawa near Lake Michigan, with a manufacturing base and a strong summer tourism season. Industrial, hospitality-adjacent retail, and medical projects are typical, and critical dune and shoreline rules affect nearby sites.
Population figures are rounded and approximate, drawn from recent U.S. Census Bureau estimates, and may have changed. Employers and centers are named for market context only and do not imply any relationship with them.
We fund projects all over Michigan. If your city is not listed, call us or submit your application and we will confirm.
How it works
Get your Michigan commercial loan in three steps
Send the project details
Share the location, property type, plans, total budget, and whether you plan to sell, lease, or hold.
Receive a same-day term sheet
We review cost, expected value, and your experience, then return clear terms with minimal paperwork.
Close and start drawing
We close, fund your first draw, and release later draws promptly as each stage passes inspection.
Requirements
Michigan commercial loan requirements
| Equity | As little as 15-20% of total project cost, depending on experience and the project |
| Credit | 640+ FICO typical; deal-first, with exceptions considered |
| Income documents | Streamlined and asset-based; personal income is not the main driver |
| Plans & permits | Approved plans, site-plan approvals, and permits (or in process), building-code compliance, and floodplain, wetland, shoreline, and stormwater documentation where applicable |
| Vesting | Individual, LLC, or development entity · foreign nationals eligible |
| Exit | Sale on completion, or refinance into a long-term loan |
Answers
Michigan commercial real estate loan FAQ
What is a Michigan commercial real estate loan?
A Michigan commercial real estate loan finances income-producing or business-use property such as retail centers, office and medical buildings, industrial and flex space, and mixed-use projects. Instead of leaning on personal income, we look at the property, its cost or value, its projected or actual rents, and your plan for it. Funding can cover a purchase, a refinance, bridge capital, or a ground-up build, and we lend in all 83 Michigan counties.
How much can I borrow for ground-up commercial construction?
Construction loans run from $100,000 to $100,000,000. Leverage reaches up to 85 percent of total project cost and up to 75 percent of the completed value, and we size the loan to whichever measure is more conservative. Pricing starts at 9.5 percent on an interest-only term of 12 to 24 months.
Do you lend on Great Lakes shoreline, wetland, and brownfield sites?
Yes. Shoreline, wetland, floodplain, and brownfield sites are a normal part of Michigan lending, and we underwrite them with that in mind. We review EGLE permits, flood designation and elevation certificates, critical dune and high-risk erosion area limits, baseline environmental assessments for former industrial sites, and stormwater plans, along with local approvals. Your design team will usually already be building to these rules; we simply need the documentation in your file.
How do construction draws work?
You receive an initial draw at closing to start work, then request additional draws as each phase, such as site work, foundation, structure, and interior build-out, is finished. We inspect the completed work before releasing funds and typically turn draws around in about three to five days. Because interest accrues only on money already drawn, carrying costs stay lower early in the project. Retainage and lien waivers follow Michigan construction practice.
Can I buy land and build in a single loan?
Yes. Our land-plus-construction structure can fund the lot purchase and the vertical build together in one transaction. If you already own the land, its value generally counts toward your required equity in the project.
What happens when the building is finished?
After the certificate of occupancy, you can sell the property and repay the loan from proceeds, refinance into a long-term commercial loan, or convert automatically if you chose a one-time-close structure. Many investors lease up the building first so the long-term lender underwrites a stabilized income stream.
Do you finance projects in cities that are not listed on this page?
Yes. The cities above are a sample of the most active Michigan commercial markets, not a limit. If your project is somewhere else in the state, call us or submit an application and we will confirm the details.
Keep exploring
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© 2026 CambridgeHomeLoan.com · NMLS #1826020 · 4830 W Kennedy Blvd, Tampa, FL 33609 · (800) 826-5077 · Equal Housing Lender. Commercial real estate and construction loans are business-purpose loans and are not available for primary residences. Rates, points, loan-to-cost, loan-to-value, terms, draw schedules, and closing timelines are illustrative, subject to change without notice, and subject to borrower, property, and project qualification and underwriting approval. “Rates from 9.5%,” “up to 85% loan-to-cost,” and other maximums reflect the strongest profiles and are not a quote or commitment to lend. Completed values are estimates confirmed by appraisal. Calculator results are illustrative and exclude permits, impact fees, insurance, reserves, and closing costs. Population figures come from the U.S. Census Bureau, are rounded and approximate, and may have changed. Employer and shopping-center names are used only to describe local markets and do not imply endorsement or affiliation. City descriptions are general observations, not property-specific or investment advice. Comparison figures are generic composites and do not describe any specific lender. Borrowers must confirm applicable building code, floodplain, wetland, shoreline, stormwater, zoning, lien, and permitting requirements with licensed professionals. This page is informational and is not financial, legal, tax, or investment advice.