Looking to purchase commercial property with SBA loan.
tldr: looking to buy a building for 1.1 million, current owner wants 1.15 million. The bank that is financing won't go over 1.1 million and doesn't recommend I go any higher.

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Hey gang looking to expand our business by buying a commercial building and opening another location for our business. The building we're currently pursuing has one tenant who pays 59k a year in rent. We are looking to purchase the building for 1.1million then doing a 270k buildout for our second location for our business. However our financing is stuck at 1.1 million. What should I do? We have excellent credit and a good amount of liquidity. Although our business is also growing very rapidly, our financing can't go higher because we are in the food business. After our buildout, and us filling the other vacant units the building should bring in almost 190k a year NNN. My current broker is a residential real estate agent and I don't think he quite understands the situation. Any advice is appreciated.

The loan is the SBA 50-40-10. 

Also should I find myself a mortgage broker to squeeze out the extra money? 

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 TIA
[{"id": "gdsmwtn", "text": "Find yourself a local CDC loan officer. Where are you located?", "replies": [{"id": "gdsngfs", "text": "&gt;CDC loan officer\n\nI am located in Colorado, Denver metro area.", "replies": [{"id": "gdst88v", "text": "Weird that a bank is saying what you should pay. Is the bank working with a CDC (at least that\u2019s what we call them in CA)? What\u2019s the appraised value?", "replies": [{"id": "gdt2mj1", "text": "I think CDC might be the same as CLS here. My buddy at the bank said CLS isn't as giving to restaurants right now. The building is also 75% vacant &amp; in gray shell condition.", "replies": [{"id": "gdt5sm7", "text": "Got it. You\u2019re lucky a bank is even entertaining a restaurant right now.", "replies": [{"id": "gdu5nn6", "text": "Yessir I\u2019ve been lucky to have made friends with a local underwriter. He\u2019s the only one that has been willing to work with us as all other local banks have been scared of restaurants. But the 1.1 is the bottom line and the only reason they\u2019ll do it is because we will have a lot of cash leftover. That is why I need my guy to really convince them that it\u2019s either the 1.1 or we walk away.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gdsn7dq", "text": "Buying commercial with a residential agent is really bad. They have no access to rent or sale comparables and most of the times do not understand it.  I would say if the bank is not willing to take the risk, you shouldn't take it either. Use it to pressure the owner to sell.", "replies": [{"id": "gdsnp0f", "text": "Should I contact the sellers broker directly? The deal is very niche and would work very well for what we have planned. I really think the seller would do it for 1.1 as he and his family came and dined at our restaurant prior to the shutdown. We had a great conversation but I think my current broker is having a hard time.", "replies": [{"id": "gdso9dx", "text": "Yes, not a bad idea to contact the seller broker directly.", "replies": [], "depth": 3}, {"id": "gdsop34", "text": "I don't recommend working with the seller broker directly since you need someone to represent you and have your best interest. If I were in your shoes, I would look for other commercial broker in the area and ask him to help on the deal. Just be sure that he has the proper trade tools like costar and really understands your business and the market. To be honest, I doubt the seller will risk having the property more time in this market for just 50k.", "replies": [{"id": "gdsp3t9", "text": "Yessir, this has been my instinct. My family and I are going crazy thinking why in the world this guy wouldn't take this deal at 1.1 in this market. His other offers were 600k-900k! I think with your comments we will definitely just try to ask around town for an experienced commercial broker who could perhaps make it happen.", "replies": [], "depth": 4}], "depth": 3}, {"id": "gdt83hy", "text": "So you don\u2019t burn any brides I have the listing broker give your residential guy a referral fee.", "replies": [], "depth": 3}], "depth": 2}, {"id": "gdszzxk", "text": "Agreed!!!! Also CRE agents are licking their chops knowing they\u2019ll be negotiating with a residential agent. Lol", "replies": [{"id": "gdt31iv", "text": "This is an industry filled with smooth talking sharks.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gdtj87l", "text": "Look on Loopnet for commercial buildings\nInterview several agents like you do your employees", "replies": [], "depth": 1}, {"id": "gfcrmhr", "text": "I sent you a message.", "replies": [], "depth": 1}]