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07-03: Burger King, Office Buildings, Hardee’s, O’Reilly’s Auto Parts, Apartments, Retail Centers

 

1.   Burger King in Pontiac, MI: 4,475 SF drive-thru fast food restaurant remodeled in 2016 on 1.48 ac lot in Detroit suburbs. With easy access to I-75. Tenant has been at this location

since 2006. Recently executed a new 20 year absolute NNN lease to a strong franchisee with over 800 units. NOI $68K/yr with scheduled rent increases. $1.056M. 6.50% cap.

2.   Hardee’s in Columbia, SC: 3,389 SF Hardee’s fast food restaurant remodeled in 2014 on over 1 ac lot along busy retail corridor with over 39,000 VPD. Tenant has been at this location since 1994. 100% absolute NNN corp lease till 2024. NOI $75K/yr with a 10% rent increase in 2019. $1.048M. 7.15% cap.

3.   Shopping Center in Houston, TX: 82,177 SF consisting of three retail buildings on over 21 acres of land in a fast growing area. 91% leased with good tenant mix including Advance Auto Parts and CSL Plasma. NOI $728K/yr. $9.1M. 8% cap.

4.   Retail Center in Midland, TX: 19,530 SF well maintained retail center built in 2005 on 1.89 ac lot at a signalized corner location in a fast growing oil/gas town. Major tenants: Advance Auto Parts, Familia Dental and Advance America. 100% leased. NOI $326K/yr. $4.669M. 7% cap.

5.   Multifamily in Clovis, CA: 12,800 SF consisting of sixteen 2-bd/1-ba multifamily complex. Close to California State University and Hwy-168. NOI $176K/yr. $2.75M. 6.40% cap.

6.   Retail Building in Tulare, CA: 62,947 SF inline retail building completed in 1991 on 6.64 ac lot. Shadow anchored by Big K Mart and across from Walmart. Adjacent to Tulare Outlet Mall. 100% NNN leased to Big Lots, Harbor Freight Tools and Dollar Tree. NOI $455K/yr. $7.002M. 6.50% cap.

7.   Burger King in Tonawanda, NY: 3,174 SF Burger King built in 2002 on 1.32 ac lot along major thoroughfare. Across from Boulevard Mall. 20 year NNN lease with 5 years left. NOI $127K/yr with 1% annual rent increases. $1.958M. 6.50% cap.

8.   O’Reilly Auto Parts in Lake Zurich, IL: 6,000 SF well maintained single tenant retail building on .73 ac lot in high income Chicago MSA with an AHI of $152K/yr in a 3 mile radius. Adjacent to Jewel-Osco shopping center. Along Hwy-12 with over 44,000 VPD. 100% NNN- corp lease with 9+ years left. NOI $92K/yr. $1.48M. 6.24% cap.

9.   Office Building in Chico, CA: 5,957 SF multi-tenant office building completed in 2001 on .48 ac lot. Close to Chico Mall and Hwy-99. 100% leased to long term tenants. NOI $97K/yr. $1.57M. 6.18% cap.

10.Neighborhood Center in Evansville, IN: 51,029 SF mature shopping center on over 5 ac corner lot. Major tenants. Dollar General, Goodwill, Rent-A-Center, Save-A-Lot, Dollar Tree and Domino’s Pizza. 100% leased. NOI $291K/yr. $3.243M. 9% 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.