04-02: FastMed Urgent Care, Professional Centers, Neighborhood Centers, Strip Centers, Office Buildings

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  1. Neighborhood Center in Gladstone, MO: 190,006 SF attractive shopping center on over 15 ac corner lot anchored by 61,990 SF Price Chopper and 51,626 SF Hobby Lobby in Kansas City suburbs. 91% leased with good tenant mix. NOI $1.389M/yr.  Best offer.
  2. Strip Center in Palm Harbor, FL: 9056 SF strip center built in 1999 on nearly 3 ac lot with excellent visibility in upper middle class Tampa suburbs. 100% NNN leased with good tenant mix including The Vitamin Shoppe. NOI $194K/yr. $2.782M. 7% cap.
  3. Shopping Center in Dallas, TX: 75,201 SF well maintained shopping center on 3.67 ac lot in high income (AHI $84K/yr in 3 miles) area. Good tenant mix: ACE Hardware, Spec’ s Liquor, Fresh Market grocery store, PetSmart, Starbucks, Digg’ s Taco Shop, and Luke’ s Locker. NNN leased. Projected NOI $1.6M.  Best offer.
  4. FastMed in Tempe, AZ: 3700 SF well maintained Urgent Care Center built in 1997 on .69 ac lot in Phoenix suburbs. Next to I-10 exit. 10 yrs NNN lease with 2 yrs left. NOI $91K/yr. $1.2M. 7.6% cap.
  5. Professional Center in Brooklyn Park, MN: 18,428 SF Class-B multitenant medical & professional building constructed in 1998 on 2.45 ac lot in high income Minneapolis suburbs with an AHI of $89K/yr in 1 mile. Anchored by Children’ s Hospitals and Clinics of Minnesota.  88% leased. NOI/Cap N/A.
  6. Retail Center in Louisville, KY: 23,408 SF attractive retail center built in 2005 on 3.40 ac lot in growing and high income area. 100% NNN leased to Papa Murphy’s, Liberty Tax, Sola Salon Studio, Langsford Learning Center, University of Louisville Physicians, Kenney Orthopedics, and Tipton & Unroe foot and ankle care. NOI $461K/yr. $6.125M. 7.53% cap.
  7. Retail Center in Spring, TX: 20,888 SF newly renovated retail center on nearly 2 ac lot at a signalized intersection in Houston suburbs. Good demographics: 285% pop growth since 2000 and AHI of $90K/yr in 1 mile. 92% leased. NOI $224K/yr. $2.8M. 8% cap.
  8. Shopping Center in Houston, TX: 30,000 SF recently renovated shopping center on 2.43 ac lot along main corridor & in densely populated area with over 500,000 residents in a 5-mile ring. Excellent visibility.  83% leased. NOI $258K/yr. $3.225M. 8% cap.
  9. Office Building in Glen Rock, NJ: 20,000 SF Class-B office building on .45 ac lot in affluent New York metro with an AHI of $149K/yr in 1 mile. 95% leased to multiple tenants. Actual NOI $192K/yr. $2.4M. 8% cap. Upside potential when fully leased.
  10. Strip Center in Gilbert, AZ: 8616 SF attractive strip center in high growth and high income (AHI $92K/yr in 3 miles) Phoenix suburbs. Near Hwy-202. 100% NNN leased. NOI $124K/yr. $1.665M. 7.50% cap.

(c) Transmercial 2015