10-01: MOB, Office Building, Jack in the Box, Retail Plazas, Rite Aid, Retail Centers

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1.   Retail Center in Concord, NC: 15,625 SF well maintained retail center completed in 2003 on 3.43 ac corner lot in Charlotte MSA. 100% leased to multiple tenants including Dollar Genera, Jackson Hewitt and Boost Mobile. NOI $147K/yr. $1.909M. 7.75% cap.

2.   MOB in Fort Collins, CO: 3384 SF attractive single tenant medical office building adjacent to a busy corner location in growing Denver metro. 10 year NNN- lease with over 9 years left to Smile Doctors Braces with over 160 locations in 14 states. NOI $108K/yr with 3% annual rent bumps after 5 years. $1.542M. 7% cap.

3.   Retail Center in Tomball, TX: 15,580 SF under construction retail center on 2.38 ac lot in affluent Houston suburbs with a MHI of $107K/yr in a 3 mile radius. 100% NNN leased out and ready for delivery by Spring 2020. NOI $406K/yr. $5.8M. 7% cap.

4.   MOB in Dallas, TX: 27,942 SF single tenant medical office building built in 2004 on 3 ac lot along busy artery with over 38,000 VPD. New 10 year NNN- lease. NOI $558K/yr with 2% annual rent increases. $6.985M. 8% cap.

5.   Shopping Center in Tulsa, OK: 53,994 SF attractive shopping center renovated in 2004 on over 5 ac lot. With easy access to Hwy-169. 78% leased with good tenant mix including O’Reilly Auto Parts, Citi Trends, Allstate Insurance and AT&T. 291K/yr. $3.759M. 7.75% cap.

6.   Office Building in Boise, ID: 43,305 SF Class-A two-story multitenant office building remodeled in 2018/2019 on 2.78 ac lot in a high income area with a MHI of $100K/yr in a 1 mile ring. 100% leased to multiple tenants. NOI $514K/yr. $6.86M. 7.50% cap.

7.   MOB in Las Vegas, NV: 18,757 SF Class-B two-story multitenant medical office building constructed in 1999 on 1.29 ac corner lot. Close to MountainView Hospital. Near Hwy-95 with over 200K VPD. 82% NNN leased to four tenants and only one vacancy. NOI $537K/yr. $7.3M. 7.36% cap.

8.   Jack in the Box in Bend, OR: 2370 SF drive-thru fast food restaurant built in 2009 on .52 ac corner lot. 100% absolute NNN leased with over 10 years left to an experienced franchisee. NOI $168K/yr. $2.3M. 7.34% cap.

9.   Retail Plaza n Tamarac, FL: 84,655 SF consisting of three attractive retail buildings at a major retail corridor in Fort Lauderdale suburbs. With over $3M in capital improvement including a new roof, new facade, new parking and lighting, landscaping and more. Key Tenants: Planet Fitness, La Colonia Medical Center. NOI $1.146M/yr. $15.7M. 7.30% cap.

10.Rite Aid in Antioch, CA: 16,708 SF recently remodeled drive-thru drug-store on nearly 2 ac lot at a signalized corner location in high income Contra Costa County. 100% leased. NOI $303K/yr. $4.998M. 6.07% 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.

 

David V. Tran

Chief Investment Advisor. CA BRE# 00969014

Transmercial — Commercial Real Estate Investments

408-288-5500 ext. 201, 408-288-5533 (F)

09-30: Rite Aid, Freddy’s Frozen Custard, IHOP, MOB, Office Buildings, Retail Plazas

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Installed Plugins

 

1.   MOB in Albuquerque, NM: 8,300 SF well maintained single tenant medical office building on 1.54 ac lot. Close to Presbyterian Kaseman Hospital and I-40. 100% NNN lease with 15 years left to Modern Vascular. 3 year corp guarantee. NOI $360K/yr with scheduled rent increases. $4.8M. 7.5% cap.

2.   Rite Aid in Chesapeake, VA: 10,168 SF drive-thru Rite Aid built in 1995 on 1.27 ac lot at a signalized corner location. In high income Norfolk suburbs with an AHI of $90K/yr in a 3 mile radius. 100% absolute NNN corp lease till 2024. NOI $159K/yr. $1.874M. 8.50% cap.

3.   Retail Plaza in Fort Myers, FL: 48,220 SF consisting of three retail centers completed in 2008. Shadow anchored by Super Target. Key tenants: Dollar Tree, Pet Supplies Plus, Cricket Wireless and Verizon. 92% NNN leased. Actual NOI $603K/yr. $8.505M. 7.10% cap.

4.   DaVita in Rosenberg, TX: 6,000 SF dialysis center built in 2001 on .86 ac lot in high income Houston metro. With easy access to I-69 with over 72,000 VPD. 12 year absolute NNN lease till 2023. NOI $241K/yr with 2% annual rent increases. $3.381M. 7.14% cap.

5.   Shopping Center in Fontana, CA: 24,895 SF consisting of two retail buildings completed in 2006 on over 2 ac lot at a signalized corner location in growing San Bernardino County. Along I-66 with over 36,000 CPD. 92% NNN leased. NOI $343K/yr. $5.5M. 6.25% actual cap. Upside potential when fully leased.

6.   Freddy’s Frozen Custard & Steakburgers in Akron, OH: 2,600 SF brand new American fast-casual restaurant on nearly 1 ac lot. Across from major power center with Target. Adjacent to Residence Inn Marriott and Hampton Hotel. With easy access to I-77. New 15 years absolute NNN lease to a strong national tenant with 300+ locations. NOI $169K/yr with 7.5% rent increases every 5 years. $2.0707M. 6.25% cap.

7.   Black Bear Diner in Tulsa, OK: 5736 SF newly renovated freestanding restaurant on 1.57 ac outparcel to Belk and Target center in a high income area. At a prime retail location. Visible from Hwy-169 with over 30,000 CPD. 100% absolute NNN corp with over 9 years left. NOI $175K/yr with 10% rent bumps every 5 years. $2.916M. 6% cap.

8.   IHOP in Memphis, TN: 4,740 SF IHOP restaurant built in 1999 on 1.16 ac lot along busy retail corridor. Near I-40 with over 138,000 VPD. 25 year absolute NNN corp lease with over 7 years left. NOI $212K/yr with 10% rent increases every 5 years. $3.149M. 6.75% cap.

9.   MOB in Garfield Heights, OH: 44,458 SF Class-B two-story multitenant medical office building completed in 1998 on over 3 ac lot in Cleveland suburbs. Off of I-480. 77% leased to Centers For Dialysis, GDP Group, Hudec Dental, Marymount Hospital, and Merida Medical Group. NOI 403K/yr. $4.661M. 8.65% cap.

10.Office Building Santa Ana, CA: 7734 attractive two-story office building constructed in 2001 in densely populated Los Angeles suburbs. 100% leased to Atlantis Eyecare. NOI $162K/yr. $2.707M. 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.