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03-29: Arby’s, O’Reilly Auto Parts, Ross Dress For Less, Strip Centers, Shopping Centers

1.   Strip Center in Noblesville, IN: 9,296 SF recently renovated strip center on over 1 ac corner lot in a high income Indianapolis MSA with an AHI of $101K/yr in a 3 mile radius. Leased with long term tenants. NOI $101K/yr. $1.12M. 9.03% cap.

2.   Retail Center in Orem, UT: 20,282 SF attractive retail center completed in 2003 on 1.8 ac lot. Shadow anchored by Macey’s Grocery, a regional operator with multiple locations. 100% NNN leased to credit, national and local tenants. NOI $286K/yr. $4.41M. 6.50% cap.

3.   Arby’s in Lubbock, TX: 4,846 SF single tenant fast food restaurant built in 2002 on .71 ac lot along busy artery. 100% absolute NNN leased till 2022 to a strong franchisee with 20+ units. NOI $79K/yr. $1.131M. 7% cap.

4.   Retail Center in Indio, CA: 9888 SF retail center completed in 2004 on nearly 1 ac lot in growing Riverside County. Along Hwy-111. 100% leased to multiple tenants including Verizon Wireless, Indio Medical Clinic, Little Caesars and Cricket. NOI $136K/yr. $2.186M. 6.25% cap.

5.   O’Reilly Auto Parts in Minneapolis, MN: 17,923 SF single tenant retail building renovated in 1999 on .79 ac lot in upper middle-class neighborhood. Close to I-55. 100% NNN- corp leased till 2022. NOI $123K/yr with a rent bump in 2020. $1.491M. 8.25% cap.

6.   Retail Plaza in Mishawaka, IN: 62,577 SF well kept shopping center built in 1990 on 6.65 ac lot anchored by 49,337 SF Kroger Supermarket in South Bend suburbs. 94% NNN leased to seven tenants. NOI $ 375K/yr. $4.386M. 8.56% cap.

7.   Ross Dress for Less in Olympia, WA: 48,190 SF inline single tenant retail building renovated in 1991 on .49 ac lot in a fast growing area. Along major retail artery with over 34,000 CPD and with easy access to I-5 with 128,000 VPD. Recently extended NNN lease till 2025 to a national credit tenant with 1,483 stores. NOI $191K/yr. $2.95M. 6.50% cap.

8.   Strip Center in Collierville, TN: 10,818 SF attractive strip center renovated in 2012 on 1.24 ac lot in high income Memphis metro with a MHI of $111K/yr in a 3 mile ring. 100% NNN leased to Total Health Medical Clinic, Plato’s Closet and One Upon A Child. NOI $220K/yr. $2.75M. 8% cap.

9.   Retail Center in Sacramento, CA: 14,288 SF well maintained retail center built in 1992 on over 1 ac lot adjacent to a signalized corner location. Close to Kaiser Permanente Medical Hospital. 89% leased to multiple tenants including Starbucks and Subway. NOI $240K/yr. $3.999M. 6.01% cap.

10.Neighborhood Center in Grand Island, NE: 82,367 SF well kept shopping center renovated in 1992 on 8 ac lot in a growing middle-class area. Key tenants: Goodwill and Party City. Close to Conestoga Mall and Walmart Supercenter.  97% leased. NOI $542K/yr. $6.655M. 8.15% cap.

 

About The Properties

Transmercial is the only company in the US that offers this list of best properties between $950K to $30M in 50 states. These properties are selected from 300-400 daily listings from many commercial real estate companies, and various other sources.  Each property has a brief description and a flyer. Please click here for selection criteria. Underlined names, if any, indicate safe hyperlinks that you can click for more info. For a full marketing brochure, please reply and specify the property number. Transmercial will guide you thru the whole acquisition process if needed. It will track all the issues via the “Due Diligence Summary” report until they are all resolved prior to closing.

Below are the most commonly used acronyms:

·    AHI: Avg. Household Income. National average is about $55+K/yr.

·    NOI: Net Operating Income. It’s the income after all expenses (prop taxes, ins., maintenance) paid.

·    NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

·    NNN-: Triple net lease with landlord responsible for roof and structure. Used by Transmercial only.