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06-19: Walgreens, MOB, DCI Dialysis Clinics, Midwest Dental, Grease Monkey, Dollar General

1.   MOB in Stockton, CA: 13,549 SF well maintained multitenant medical building completed in 2007 in a growing area. Along a six-lane busy corridor. 100% NNN leased to DaVita Dialysis and Delta Surgical. NOI $385K/yr. $6.43M. 6% cap.

2.   Walgreens in Snellville, GA: 13,089 SF drive-thru pharmacy constructed in 2006 on 2.76 ac lot at a hard corner location in high income Atlanta MSA. 25 year NNN lease with 11 years left. NOI $391K/yr. $6.165M. 6.35% cap.

3.   DCI Dialysis Clinic in Columbus, GA: 7705 SF build-to-suit dialysis center built in 2017 on 1.46 ac lot in upper middle-class area. New 20 year NNN lease to a strong operator with 230 clinics. NOI $184K/yr with 5% rent increases every 5 years. $3.082M 6% cap.

4.   Midwest Dental in Derby, KS: 8436 SF freestanding single tenant medical building renovated in 2019 on .79 ac lot in Wichita suburbs. With three points of ingress/egress. 100% NNN leased till 2032 to a national recognized tenant with 170 locations. NOI $75K/yr. $1.082M. 7% cap.

5.   Grease Monkey in Carol Stream, IL: 3600 SF three-bay auto center built in 1993 on .59 ac lot in high income Chicago metro with an AHI of $119K/yr in a 3 mile radius. 100% absolute NNN lease till 2030 to a strong operator with over 300 locations. NOI $66K/yr with 10% rent increases every 5 years. $1.081M. 6.15% cap.

6.   Dollar General in Taylors, SC: 9014 SF single tenant retail building completed in 2010 on over 2 ac lot in growing Greenville suburbs. 100% NNN- corp lease till 2025. NOI $98K/yr. $1.276M. 7.75% ap.

7.   DCI Dialysis Clinic in Columbus, GA: 4657 SF dialysis center built in 2011 along busy corridor. Close to St. Francis-Emory Healthcare Hospital. With easy access to I-185. New 20 year NNN lease to a strong operator with 230 clinics. NOI $96K/yr with 5% rent bumps every 5 years. $1.604M. 6% cap.

8.   Walgreens in Pomona, CA: 13,737 SF drug store built in 2003 on over 1 ac lot at a signalized corner location in densely populated Los Angeles area. Along major corridor with over 51,000 VPD. 25 year absolute NNN corp lease with over 8 years left. NOI $492K/yr. $8.2M. 6% 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/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.