03-27: TJ-Maxx, Advance Auto Parts, Fast Auto & Payday Loans, VCA Animal Hospital, O’Reilly, Tire Rama, Mulligan’s Bar and Grill

  1. Shopping Center in Katy, TX: 32,387 SF attractive retail center built in 2005 on 4.58 ac outlet to Walmart Supercenter in a fast growing and high income (AHI $107K/yr in 3 miles) Houston MSA. Good tenant mix include: Pizza Hut, State Farm, Subway and Payless Shoe Source, Dentist, Tutoring Center, China Buffet, Hair Salon and Nail Salon and more. 89% NNN leased. $585K/yr. Price: Best Offer, expected to trade at $8+M or 7.25% cap.
  2. TJ-Maxx in Spark, NV: 24,647 SF American Department Store constructed in 2012 on over 2 ac lot next to Target. Across from The Outlets Sparks. Near Wild Island Family Adventure Park and I-80.  100% NNN- lease with over 7-yrs left. NOI $245K/yr with 5% rent bumps. $3.8M. 6.5% cap.
  3. Advance Auto Parts in Richmond, VA: 6750 SF automotive center built in 1995 on nearly 1 ac lot in a growing & middle class area. Across from Food Lion & Rite Aid center. 100% NNN lease with 5-yrs let. NOI $89K/yr. $1.238M. 7.25% cap.
  4. Fast Auto and Payday Loans in Hayward, CA: 1,200 SF completely remodeled retail building on .34 ac corner lot at a signalized intersection in Alameda County. Across from Big Lots and 99 Centers Only Store shopping center. Close to Kaiser Permanente Post Acute Hospital and I-238. New 7-yrs NNN lease. NOI $75K/yr. $1.26M. 6% cap.
  5. VCA Animal Hospital in Las Vegas, NV: 5551 SF animal hospital in growing and upper middle class area. 100% NNN lease to publically traded VCA Animal Hospitals (NASDAG: WOOF) with 2-yrs left.  NOI $118K/yr. $1.45M. 8.16% cap.
  6. O’Reilly Auto Parts in Phoenix, AZ: 7000 SF well maintained auto parts store built in 1998 on .83 ac lot at a hard corner location. Recently extended absolute NNN lease with over 8-yrs left. NOI $91K/yr. $1.516M. 6% cap.
  7. Retail Center in Mount Laurel, NJ: 39,182 SF attractive retail center on over 4 ac lot in high income Philadelphia suburbs with an AHI of $105K/yr in a 3-mile ring. 90% NNN lease with excellent tenant mix including: Bank of America, Saladworks, AtlantiCare Urgent Care Center among other national, regional and local tenants. NOI $623K/yr. $8.9M. 7% cap.
  8. Tire Rama in Spokane, WA: 10,754 SF L-shaped auto center at a corner location and along main retail artery. Close to Northtown Mall and Providence Holy Family Hospital. 100% NNN lease with 8-yrs left to a regional tenant with over 40-units. NOI $119K/yr with annual CPI rent bumps. $1.768M. 6.75% cap.
  9. 7-Eleven Retail Building in Lombard, IL: 4850 SF attractive retail building on .53 ac corner lot in high income (AHI $87K/yr in 3 miles) Chicago suburbs. 100% NNN lease to three tenants including 7-Eleven. NOI $84K/yr. $1.125M. 7.50% cap.
  10. Mulligan’s Bar and Grill in Las Vegas, NV: 3500 SF highly rated on Yelp restaurant built in 2001 on .63 ac corner lot in growing and upper middle class area with an AHI of $80K/yr in 3-miles. 16-yrs absolute NNN lease with over 12-yrs left. NOI $150K/yr. $2M. 7.50% cap.

(C) Transmercial 2015