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06-30: MOB, Dollar General, Lonestar 24-HR ER, Pep Boys, Rite Aid, Advance Auto Parts, Fresenius Dialysis Anchored Center

1.   MOB in Hampton, VA: 4900 SF well maintained single tenant medical office building on over 1 ac lot. Close to 224-room Sentara Careplex Hospital. With easy access to I-64 with over 177,000 VPD. 100% corp lease with over 3 years left to Sentara Medical Group. NOI $117K/yr with 3% annual rent increases. $1.3M. 9.07% cap.

2.   Lonestar 24-Hr ER in New Braunfels, TX: 7,596 SF 24HR Emergency Room built in 2017 on 1.34 ac lot in fast growing (20.47% pop growth) and high income San Antonio MSA with a MHI of $106K/yr in a 1 mile radius. New 12 year absolute NNN lease. NOI $360K/yr with 2% annual rent bumps. $5.5M. 6.5% cap.

3.   Pep Boys in Indio, CA: 19,338 SF well kept auto center renovated in 2005 on 1.58 ac lot along main corridor in growing Riverside County. 100% absolute NNN corp lease with 3 years remaining. NOI $299K/yr. $4.433M. 6.75% cap.

4.   Advance Auto Parts in Pleasantville, NJ: 7,000 SF single tenant retail building completed in 2001 on 1.51 ac outparcel to Sam’s Club. 100% NNN- lease till 2024. NOI $110K/yr. $1.706M. 6.50% cap.

5.   Rite Aid in Yuba City, CA: 16,836 SF well performing drive-thru drug store built in 1999 on 1.60 ac lot at a signalized corner intersection. 100% NNN- corp lease till 2024. NOI $298K/yr. $4.594M. 6.5% cap.

6.   Dollar General in Bakersfield, CA: 7480 SF single tenant retail building on over 1 ac lot in growing city north of Los Angeles. 15 years absolute NNN corp lease with 12 years left. NOI $143K/yr. $2.737M. 5.25% cap.

7.   MOB in Glassboro, NJ: 9664 SF well kept single tenant medical office building renovated in 2004 on nearly 1 ac corner lot in Philadelphia suburbs. Adjacent to Rowan University. 100% NNN leased to Jefferson health. NOI 117K/yr. $1.495M. 7.8% cap.

8.   Fresenius Anchored Center in Marietta, GA: 13,448 SF attractive retail center built in 2007 on over 2 ac lot in fast growing & high income Atlanta metro. All four units face major corridor with over 32,000 VPD. 90% leased to 8,120 SF Fresenius Medical Care, Achieve Physical Therapy Solutions and State Farm. NOI $201K/yr. $2.875M. 7.01% actual cap. Upside potential when fully leased.

 

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.