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08-01: Walgreens, Sonic Drive-In, Community Centers, Winstead’s Steakburgers, Auto Centers, Wendy’s, Retail Buildings

1.   Walgreens in Joppa, MD: 11,980 SF drive-thru Walgreens drug store built in 1998 on 4.63 ac lot at a signalized corner location in high income Baltimore MSA. Along Hwy-40 with over 26,000 VPD. 100% NNN- corp leased till 2023. NOI $270K/yr. $3.857M. 7% cap.

2.   Sonic in Montrose, CO: 2,258 SF drive-in single tenant fast food restaurant completed in 1999. Along Hwy-550. Close to Walmart Supercenter. New 15-years absolute NNN lease. NOI $120K/yr with 1.5% annual rent increases. $1.715M. 7% cap.

3.   Shopping Center in Lockport, IL: 54,841 SF attractive shopping center constructed in 1994 on 6 ac lot in high income Chicago MSA. 100% NNN lease with excellent tenant mix including ACE Hardware, Edward Jones, Dunkin Donuts, Subway, Planet Fitness, AT&T and more. NOI $642K/yr. $7.5M. 8.56% cap.

4.   Community Center in New Baltimore, MI: 155,958 SF shopping center built in 2003 on nearly 19 ac lot in Detroit MSA. Shadow anchored by Target. 97% leased with mostly national tenants including: Anytime Fitness, Harbor Freight, Dunham’s Sports, Buffalo Wild Wings, Payless, STAPLES, CATO, Famous Footwear and Panera Bread. Mostly NNN leased. NOI $1.290M/yr. $15.84M. 8.15% cap.

5.   Winstead’s Steakburgers in Leawood, KS: 4220 SF single tenant traditional restaurant on .92 ac corner lot in Kansas City suburbs. On an off/on ramp of I-435. 20 years NNN lease with 12 years left. NOI $203K/yr with 5% rent bumps every 5 years. $2.629M. 7.75% cap.

6.   Auto Center in Maple Grove, MN: 13,931 SF multitenant auto center renovated in 2005 on over 1 ac lot in Minneapolis MSA. Adjacent to major shopping centers. With easy access to I-94. 100% leased to multiple tenants. NOI $138K/yr. $1.795M. 7.73% cap.

7.   Retail Building in Atlanta, GA: 14,400 SF well maintained single tenant retail building on 1.70 ac lot. Visible and next to Hwy-141. 100% leased to Supermercado El Sol, a Hispanic grocery. NOI $153K/yr. $2.05M. 7.50% cap.

8.   Retail Building in Greenville, NC: 14,400 SF well kept retail building on 1.27 ac lot along major retail corridor. 100% NNN leased to FastMed Urgent Care and Lumber Liquidators. NOI $296K/yr. $4.083M. 7.25% cap.

9.   Wendy’s in Melbourne, FL: 2781 SF well maintained Wendy’s restaurant on 1.14 ac lot in Palm Bay suburbs. Close to Health First Holmes Regional Medical Center. 100% absolute NNN lease. NOI $100K/yr. $1.438M. 7% cap.

10.Shopping Center in Lake Worth, FL: 27,000 SF attractive shopping center built in 1990 on nearly 3 ac lot along major thoroughfare with 30,000 VPD. Adjacent to a major signalized intersection. 98% leased with good tenant mix. NOI $560K/yr. $8M. 7% 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.