02-11: Neighborhood Plazas, MOB, Strip Centers, STNL, Christus Health, Blue River Petcare, Nest School, Goodwill, Fiesta Mart Anchored Plaza

1. Neighborhood Center in Plainfield, IL: 55,073 SF attractive multitenant retail center along Route 59 with 43,235 VPD. Located in the prosperous Chicago metro area with an AHI of $209K/yr. within a 3-mile radius. 89% NNN occupied with a strong tenant mix, including OneMain Financial, Enterprise Rent-A-Car, Smile Care Dental, Vape N Go, Chop’d (steakhouse), and Khaos Brewcade and Kitchen, a local brewery. NOI $700K/yr. $9.99M. 7% cap.

2. MOB in Hermitage, PA: 17,924 SF Class-B build-to-suit single-tenant medical office building developed in 2005 on an 11.16-acre lot. Centrally located near Akron and Cleveland, OH, and Pittsburgh and Erie, PA. A sale-leaseback investment with Hermitage Orthopedics and Sports Medicine. New 5-year NNN lease. NOI $483K/yr. with 3% annual rent increases. $5.375M. 9% cap.

3. Christus Health in Longview, TX: 7,137 SF high-quality brick/stone medical building completed in 2007 on a 1.33-acre lot. Located in a high-income area with an AHI of $81K/yr. within a 1-mile radius. 100% NNN lease until 2029 with a strong credit tenant operating 600 locations. Landlord responsible for roof and structure. NOI $137K/yr. with 2% annual rent increases. Price reduced from $1.898M to $1.835M. 7.5% cap.

4. Smiley Dental & Orthodontics in Dallas, TX: 15,536 SF single-tenant medical office building renovated in 2006 on a 0.48-acre lot. Adjacent to a bus stop in a densely populated area with 390,972 residents within a 5-mile radius. New 15-year absolute NNN lease with an established operator managing 35 locations. NOI $326K/yr. with 2% annual rent increases. $4.5M. 7.25% cap.

5. MOB in Cumming, GA: 14,643 SF attractive medical office building renovated in 2000. Located in the fast-growing Atlanta MSA. 100% leased to Northside Hospital, Physiotherapy Associates, and Academy Orthopedics. NOI $315K/yr. $4.383M. 7.20% cap.

6. Retail Center in Indianapolis, IN: 12,220 SF well-maintained strip center built in 2002 on a 1.16-acre lot. Situated in an affluent neighborhood with an AHI of $131K/yr. within a 3-mile radius. Fully occupied by six tenants, with all but one under NNN leases. NOI $217K/yr. $3.003M. 7.25% cap.

7. Blue River Petcare in Waldorf, MD: 3,315 SF animal hospital constructed in 1978 on a 0.46-acre lot. Located in high-income Charles County, south of Washington, D.C. 100% NNN lease until 2026 with a strong veterinary practice operating 180+ clinics. Landlord responsible for roof and structure. NOI $135K/yr. with a 3% annual rent increase. $1.381M. 9.78% cap.

8. Nest School in Westerville, OH: 7,436 SF well-kept daycare center in the high-income Columbus MSA, with an AHI of $111K/yr. within a 1-mile radius. 100% absolute NNN lease until 2041, with corporate and personal guarantees. NOI $180K/yr. with 2% annual rent increases. $2.535M. 7.10% cap.

9. Goodwill in Ithaca, NY: 26,663 SF single-tenant retail building constructed in 1998 on a 2.09-acre lot. Major nearby tenants include TJ Maxx, Walmart, Lowe’s, HomeGoods, DICK’S, and Trader Joe’s. Close to Ithaca College and Cornell University. 100% NN lease until 2034 with a strong operator managing 4,245 thrift stores. NOI $266K/yr. with 10% rent increases every five years. $3.728M. 7.15% cap.

10. Fiesta Mart Anchored Plaza in Houston, TX: 79,366 SF shopping plaza on an 11.01-acre lot. Located at a signalized intersection with multiple points of ingress/egress. 100% NNN leased to a 69,145 SF Fiesta Mart, Fiesta Beverages, Rent-A-Center, EZPawn, and Watermill Express. NOI $724K/yr. $10.2M. 7.10% cap.

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.

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