03-23: DaVita, Rite Aid, Johnny Carino’s Italian Restaurant, Walgreens, MOB, Retail Buildings

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  1. DaVita in Concord, CA: 17,267 SF brand new DaVita Dialysis Center on 1.52 ac lot in high income Contra Costa County with an AHI of $102K/yr. in a 3-mile radius. With easy access to I-680 and Hwy-242. New 15-year corp lease. NOI $897K/yr. with rent increases every 5 years. $19.309M. 4.65% cap.
  2. Rite Aid in Kettering, OH: 11,335 SF attractive drive-thru drug store built in 1997 on 1.24 ac lot at a signalized corner location in upper middle-class Dayton suburbs. Tenant has been at this location since 1997. 100% absolute NNN corp lease till 2030. NOI $227K/yr. $3.255M. 7% cap.
  3. Johnny Carino’s in Oklahoma City, OK: 6297 SF single tenant Italian restaurant completed in 2004 on 1.6 ac corner lot. Tenant has been at this location since 2003. 100% NNN- lease till 2029 to an experience franchisee. NOI $185K/yr. with scheduled rent increases. $2.312M. 8% cap.
  4. Retail Building in Wichita, KS: 30,000 SF newly constructed two tenant attractive retail building on 2.68 ac outparcel to Greenwich Place center with HomeGoods, Ross Dress for Less, World Market, REI, Bed Bath & Beyond and many more. In fast growing and affluent neighborhood with an AHI of $151K/yr. in a 1-mile ring. 100% NNN leased to Marshalls and Skechers with over 3,770 locations. NOI $379K/yr. $5.84M. 6.50% cap.
  5. Walgreens in Las Vegas, NV: 14,747 SF well maintained drive-thru pharmacy built in 1998 at a hard corner location. Across from College of Southern Nevada Charleston. 20-year NNN- corp lease with 6 years remaining. NOI $279K/yr. $4.536M. 6.15% cap.
  6. MOB in Livonia, MI: 6240 SF well-kept single tenant medical office building on .88 ac lot in high income Detroit suburbs.  New 5-year lease with Ascension Medical Group Michigan. NOI $109K/yr. $1.37M. 8% cap.
  7. Walgreens in Marion, IN: 14,729 SF drive-thru Walgreens pharmacy built in 2004 on 1.81 ac lot at a signalized corner location. 25-year absolute NNN lease with 9 years left. NOI $251K/yr. $3.99M. 6.3% cap.
  8. MOB in Muncie, IN: 9362 SF single tenant medical office building and surgical center completed in 1994 on over 1 ac lot. This is a sale leaseback investment. New 10-year NNN lease to Makris Vision Center. NOI $180K/yr. with 2% annual rent increases. $2.483M. 7.25% 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.