02-19: Salvation Army, Burger King, Bank, Shopping Centers

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  1. Shopping Center in Jacksonville, FL: 96,127 SF well maintained shopping center anchored by 51,559 SF Winn-Dixie Grocery. All units face main retail artery. Close to Memorial Hospital and I-95. 86% NNN leased with good tenant mix. Actual NOI $462K/yr. $5.535M. 8.35% actual cap. Just $58/SF! Upside potential.
  2. Neighborhood Center in Amarillo, TX: 167,600 SF attractive shopping center built in 2008 on over 16 acres of land along I-40. Anchored by four notable tenants: Burlington Coat Factory, Mardel, Michaels and Petco. 97% NN leased. NOI $1.555M/yr. $19.43M. 8% cap. Buyer to assume $16.2M loan at 5.14% interest.
  3. Salvation Army in Milwaukee, WI: 16,709 SF attractive retail building on 1.55 ac lot at a signalized intersection. Adjacent to Menards Grocery, Target and Dollar Tree. New 10-yrs NNN lease with 9-yrs left. NOI $128K/yr with rent increases every 5 yrs. $1.84M. 7% cap.
  4. Burger King in Colorado Springs, CO: 2621 SF drive-thru fast food restaurant on .85 ac lot along major arty and at a prime corner location. 100% NNN lease to a strong operator with 27 units. NOI $120K/yr. $2M. 6% cap.
  5. Shopping Center in Palmdale, CA: 43,410 SF well maintained shopping center on over 4 ac corner lot in growing and upper middle class Southern California. Across from Palmdale Regional Medical Center and close to Hwy-14.  97% NNN leased.  NOI $588K/yr. $8.75M. 6.73% cap.
  6. Retail Building in Collierville, TN: 6650 SF retail building constructed in 2006 on .79 ac lot in affluent Memphis suburbs with an AHI of $131K/yr in a 3-mile ring. Across from Kohl’s, HomeGoods, Stein Mart and Kroger. 100% NNN leased to two tenants. NOI $116K/yr. $1.325M. 8.82% cap.
  7. Clifton Savings Bank in Fail Lawn, NJ: 6200 SF drive-thru bank on .63 ac lot at a signalized intersection in high income New York suburbs. Close to Garden State Plaza. 100% NNN lease with over 4-yrs left. NOI $96K/yr. $1.6M. 6% cap.
  8. Retail Center in Dallas, TX: 31,424 SF retail center on nearly 3 ac lot with excellent visibility along I-635. 92% NNN leased with good tenant mix. Actual NOI $326K/yr. $4.3M. 6% actual cap. Upside potential.
  9. Shopping Center in Cape Coral, FL: 46,745 SF attractive shopping center completed in 2010 on 3.6 ac lot along major retail artery.  Major tenant s include: Metro PCS, State Farm, Sears Home Center, Zoom Tan, Anytime Fitness and many well established local tenants. Near Publix Super Market and Lowe’s. 89% leased. Actual NOI $521K/yr. $7.299M. 7% cap. Upside potential when fully leased.

(c) Transmercial 2015