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04-23: MOB, Walgreens, Pep Boys, Mixed-use, Retail Plazas

 

1.   MOB in Huntington, WV: 20,618 SF Class-B three story medical office building on .83 ac lot. $3.5M invested in renovations. Outparcel to 303-bed Cabell Huntington Hospital. 100% leased to multiple tenants. NOI $340K/yr. $4.255M. 8% cap.

2.   Walgreens in Lake Station, IN: 14,490 SF well maintained drug store built in 2002 on 1.75 ac lot at a hard corner location in Chicago MSA. Near I-94. 100% NNN leased. NOI $294K/yr. $4.068M. 7.25% cap.

3.   MOB in Oswego, NY: 6,500 SF attractive medical building constructed in 2017 on over 2 ac corner lot in Rochester metro. 100% leased to WellNow Urgent Care and Aspen Dental. NOI $200K/yr. $2.762M. 7.25% cap.

4.   Retail Center in Libertyville, IL: 19,495 SF attractive retail center built in 2003 on nearly 2 ac lot in affluent Chicago MSA with an AHI of $160K/yr in a 1 mile ring. 69% NNN leased to multiple tenants. NOI $220K/yr. $3.05M. 7.25% cap.

5.   Walgreens in McDonough, GA: 15,110 SF drive-thru Walgreens completed in 2001 on nearly 2 ac corner lot at a busy retail corridor in growing and high income Atlanta suburbs. 100% NNN- corp lease till 2026. NOI $347K/yr. $4.636M. 7.50% cap.

6.   Mixed-use Plaza in Lacey, WA: 9,497 SF one-story retail center and 8,520 SF two-story office building on 1.31 ac lot at a signalized intersection in Tacoma suburbs. Close to Costco. With easy access to I-5. 100% NNN leased to retail, professional and medical tenants. NOI $328K/yr. $5M. 6.57% cap.

7.   Strip Center in New Hartford, NY: 5929 SF attractive retail center built in 2005 on 1.60 ac lot in Syracuse suburbs. Close to Sangertown Square Mall. 100% NNN leased to four tenants. NOI $149K/yr. $1.925M. 7.75% cap.

8.   Retail Center in Lawton, OK: 11,258 SF retail center built in 2014 on over 1 ac lot. 100% NNN leased to retail, medical and professional tenants. NOI $174K/yr. $2.318M. 7.52% cap.

9.   Shopping Center in Shelton, CT: 50,879 SF attractive shopping center on 7.26 ac lot in upper middle-class neighborhood. 81% leased to national, regional and local tenants. NOI $827K/yr. $10.999M. 7.53% cap.

10.      Pep Boys in Morrisville, NC: 8480 SF well maintained four-bay automotive center built in 2004 in growing Raleigh MSA. 100% NNN- lease till 2022 to a strong operator with 975 locations. NOI $104K/yr. $1.486M. 7% cap. Note: flyer not available, full brochure upon request.            

 

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/MHI: Avg./Median 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.