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7-01: Honest 1 Auto, CVS. AAP, Shopping Centers

 

Advisory: interest rates are falling!

Transmercial recently receives a 70% LTV loan quote of 3.9%, fixed rate for over 6 years with no prepayment penalty from a lender in GA for a single-tenant dialysis center.  This rate is very attractive since just 6 months ago, the rate for the same property was expected to be in the 4.5% range.

 

 

Daily Best Commercial Properties
 

  1. Honest 1 Auto in Aurora, IL: 8913 SF auto service center built in 1997 in upper middle class Chicago metro. 10 yrs NNN franchisee lease till 2024 to Honest 1 Auto Care, a regional tenant with 55 locations  NOI $120K/yr with 10% rent bump in 2019.  $1.775M. 6.75% cap.
  2. Shopping Center in Las Vegas, NV: New 32,800 SF shopping center on 3.14 acres anchored by Dollar Tree.  High growth & high income area.  100% NNN leased to 5 tenants.  NOI $536K/yr. $8M. 6.71% cap.
  3. Strip Center in Houston, TX: 18,360 SF strip center built in 2000 on 1.69 ac lot.  100% leased.  NOI $187K/yr. $2.315M. 8.1% cap.
  4. Shopping Center in Fishers, IN: 38,622 SF shopping center built in 1998-2000 on 4.81 ac parcel in high income Indianapolis suburbs with AHI of $97K/yr in 3 miles ring.  Excellent visibility from the main road. 89% leased.  NOI $329K/yr. $4.7M. 7% cap.
  5. CVS in Westland, MI: 10,885 SF drugstore with drive-thru built in 2002 on 3/4 ac corner lot in Detroit suburbs.  100% corp NNN- leased till 2023.  NOI $249K/yr with rare bumps every 5 yrs (next bump in 2/2018. $3.4M. 7.34% cap.
  6. Advance Auto Parts in Knoxville, TN: 7000 SF AAP on .69 ac lot on a busy state highway.  100% leased with 4 1/2 yrs left.  NOI $141K/yr. $1.905M. 7.4% cap.
  7. Burger King in Bellwood, IL: brand new 2286 SF Burger King on .51 ac lot in Chicago metro.  New 15 yrs  absolute NNN lease.  NOI $106K/yr. $1.642M. 6% cap.
  8. Shopping Center in Lakeland, FL: 102,572 SF shopping center completed in 1989 on 15.6 ac lot East of Tampa metro.  Anchored by 51,672 SF Winn Dixie grocery.  Property is under building facade improvement to be completed by 9/2016. 84% leased.  Current NOI $577K/yr.  $8.5M.  6.79% cap.  Upside potential.  Buyer to assume $4.8M loan due in 2025 at 4.58% interest.
  9. Strip Mall in Waukesha, WI:  9856 SF well-kept strip mall built in 1980 on .73 ac lot in middle-class Milwaukee metro.  Current NOI $101K/yr.  $1.08M. 9.3% cap.

 

(c) Transmercial 2016
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.