05-13: WellMed, One Community Health, Medical Plazas, Appebee’s, MOB, Shopping Plazas

1. MOB in Baytown, TX: 18,582 SF attractive medical office building completed in 2003 on 12.5 ac lot in fast growing Houston MSA. Across from Houston Methodist Baytown Hospital. 90% leased to PARS MRI, Family Medicine, BP Med Spa, PARS Neurological and First Family Medicine. NOI $241K/yr. with 1-year master lease on a 1,945 SF vacancy. $3.4M. 7.1% cap.

2. Shopping Plaza in Omaha, NE: 178,686 SF neighborhood center built in 2006 on 28.10 acres of land anchored by Ross Dress for Less, Marshalls and Big Lots. Shadow anchored by Target. Close to 232-bed CHI Health Immanuel Hospital. 73% leased to retail, medical and professional tenants. Actual NOI $723K/yr. $9.05M. 8% actual cap. Upside potential when fully leased.

3. One Community Health in Sacramento, CA: 9770 SF single tenant medical office building completed in 2003 on .35 ac lot in a fast-growing area. Adjacent to Hwy-80. Tenant has been at this location since 2016 and recently signed a 5-year renewal beginning in Sept 2021. NOI $142K/yr. with 3% annual rent increases. $2.038M. 7% cap.

4. WellMed in San Antonio, TX: 8,400 SF single tenant medical office building remodeled in 2015 on 2.19 ac lot at a signalized intersection. Visible from Hwy-151. Tenant has been at this location since 2004. New 10 year NNN- corp lease to WellMed with 344 locations. NOI $137K/yr. $2.35M. 5.85% cap.

5. Applebee’s in Chesapeake, VA: 5,156 SF Applebee’s Restaurant built in 1993 on 1.26 ac outparcel to Chesapeake Square Mall in high income Norfolk suburbs. 100% absolute NNN lease till 2028 to a successful and experienced franchisee with 70 restaurants. NOI $225K/yr. with a 10% rent bump in 2023. $2.81M. 8% cap.

6. WellMed in Plant City, FL: 13,754 SF freestanding single tenant medical building renovated in 2017 on 1.84 ac lot in Tampa metro. WellMed has 344 location throughout FL, NM and TX. 100% NNN- corp lease till 2030. NOI $238K/yr. $3.813M. 6.25% cap.

7. Retail Center in Arlington, TX: 16,352 SF well maintained retail center constructed in 2003 on 1.75 ac lot in high income & fast-growing Dallas/Fort Worth suburbs. 100% NNN leased with excellent tenant mix including Kumon, Sushi Go, Kidzania Dentistry, Nail Salon, Great Oaks Dental and more. NOI $256K/yr. $3.665M. 7% cap.

8. WellMed in El Paso, TX: 13,087 SF single tenant medical building renovated in 2018 on 1.37 ac lot along busy corridor. 100% NNN- corp lease to a strong operator with 344 locations. NOI $245K/yr. with 1% annual rent increases. $4.085M. 6% cap.

9. Strip Center in Sparks, NV: 16,138 SF 5-untis well maintained retail center renovated in 2006 on 1.39 ac lot in a fast-growing area. 100% NNN leased to Pizza Plus, Carniceria Mi Rancho, B&B Mini Mart, Sun Loan Company and H&R Block. NOI $382K/yr. $5.32M. 7.20% cap.

10.  MOB in Decatur, AL: 52,772 SF well-kept medical plaza on over 13 ac lot along major corridor. 85% leased with excellent tenant mix including Outpatient Surgery Center, Diagnostic Clinic, Diagnostic Lab and freestanding Pharmacy. NOI $616K/yr. $8.221M. 7.50% 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.