02-25: Northwest Veterinary Clinic, Penn Cardiology MOB, Shopping Centers, Building Kidz Daycare, Strip Centers, STNL

2. Retail Center in Southfield, MI: 39,390 SF retail center renovated in 2010 on a 3-acre lot. Along Hwy-10 in the Detroit metro. 100% occupied. NOI $561K/yr. $5.95M. 9.4% cap.

3. Northwest Veterinary Clinic in Stanwood, WA: 4,357 SF animal hospital renovated in 2018. In a densely populated and prosperous neighborhood with a MHI of $153K/yr. in a 1-mile ring. 100% NNN corporate lease to PetVet Care Centers with 450+ locations. NOI $150K/yr. $1.673M. 9% cap.

4. Building Kidz Daycare in Wylie, TX: 10,098 SF well-maintained daycare center built in 1998 on a 1.2-acre lot. Adjacent to Hwy-78 in the fast-growing Dallas suburbs. 100% NNN- lease through 2030 to an experienced operator with 49 locations. Landlord responsible for roof & structure. NOI $184K/yr. with 2.5% annual rent increases. Price reduced from $2.484M to $2.307M. 8% cap.

5. Retail Plaza in St. Louis, MO: 45,372 SF multitenant retail center. Adjacent to South County Center Mall. With easy access to I-255. 100% NNN leased to multiple tenants including LensCrafters, Mattress Firm, and Great Clips. NOI $764K/yr. $9.863M. 7.75% cap.

6. Retail Center in Ellisville, MO: 38,080 SF inline strip center renovated in 2022 on a 3.38-acre lot. Shadow-anchored by Ollie’s and Missouri Pickleball Club. Along the main retail corridor with 46,007 VPD. In the wealthy St. Louis MSA with an AHI of $182K/yr. in a 3-mile ring. 93% NNN leased to four tenants including Caliber Collision and NAPA Auto Parts. NOI $359K/yr. $4.886M. 7.35% cap.

7. Penn Cardiology MOB in Vineland, NJ: 14,450 SF single-tenant medical office building completed in 1994 in the Philadelphia metro. 100% NNN leased through 2032 to Penn Medicine with six acute-care hospitals in PA and NJ, along with hundreds of outpatient clinics and facilities spanning 27+ counties throughout the region. NOI $294K/yr. with 2.75% annual rent increases. $4.202M. 7% cap.

8. Strip Center in Pharr, TX: 15,152 SF attractive multitenant retail center built in 2019 at a signalized corner location. In the McAllen suburbs. 100% NNN leased. NOI $337K/yr. $4.828M. 7% cap.

9. Retail Center in Missouri City, TX: 9,920 SF attractive multitenant retail building developed in 2009. Along Hwy-6 with 43,351 CPD. In the growing Houston MSA. 80% NNN occupied by Urgent Care and Sunbelt Pawn. 2,000 SF will be master-leased for 3 years. NOI $247K/yr. $3.5M. 7.08% cap.

10. Strip Center in Spokane Valley, WA: 13,419 SF well-kept retail center constructed in 1985 on a .98-acre lot. With easy access from I-90. 100% occupied with seven tenants. All but one tenant operating under NNN leases. NOI $168K/yr. $2.4M. 7% 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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