06-19: Surgery Center, Walgreens, Buter Market Shadow Anchored Center, Childtime, Mixed-use, Neighborhood Centers

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1. Shopping Plaza in West Palm Beach, FL: 49,451 SF shopping center built in 1973 on a 2.60-acre lot. Shadow anchored by Ross Dress for Less, Ollie’s Bargain Outlet, Citi Trends, and Conn’s HomePlus. Adjacent to a main intersection. 100% NNN leased to dd’s DISCOUNTS, Foot Locker, K&G Fashion Superstore, and Dunkin’ Donuts. NOI $836K/yr. Price reduced from $11.95M to $10.46M. 8% cap.

2. Walgreens in Milwaukee, WI: 13,500 SF well-maintained drive-thru pharmacy at a signalized corner location. In a densely populated area with approximately 240,000 residents within a 3-mile radius. 100% NNN corporate lease with 3.5 years remaining. NOI $190K/yr. $2.305M. 8.25% cap.

3. Retail Center in Atlanta, GA: 15,600 SF attractive retail center on a 2-acre lot along a busy road with 31,785 VPD. 100% occupied by multiple tenants. NOI $313K/yr. $3.9M. 8.03% cap.

4. Butera Market Shadow Anchored Center in Elgin, IL: 10,950 SF retail center built in 1984 on a 0.91-acre lot in a high-income Chicago MSA. Shadow anchored by Butera Market with 10 locations. 78% occupied by Rosati’s, Ramiro’s Restaurant, Lina’s Filipino Restaurant, and Wingstop. NOI $162K/yr. $2.2M. 7.40% cap.

5. Childtime in Arlington, TX: 8,200 SF daycare center developed in 1997 on a 1.81-acre lot in high-income Fort Worth/Dallas suburbs with an AHI of $118K/yr within a 3-mile radius. 100% absolute NNN corporate lease until 2029 to an operator with 200+ locations. NOI $146K/yr. $2.093M. 7% cap.

6. Walgreens in Baton Rouge, LA: 13,620 SF well-kept Walgreens pharmacy constructed in 1993 on a 1.67-acre lot at a signalized intersection with 49,300 VPD in combined daily traffic. Fully occupied until 2028. NNN lease with minimal landlord responsibilities. NOI $288K/yr. $3.395M. 8.5% cap.

7. Childcare Network in Jamestown, NC: 7,844 SF highly rated daycare center completed in 1989 on a 1.10-acre lot in high-income Greensboro suburbs. 100% absolute NNN corporate lease until 2029 to an operator with 230+ childcare centers. NOI $130K/yr. $1.862M. 7% cap.

8. Surgery Center in Palm Springs, FL: 18,342 SF multistory medical building developed in 1997 on a 1.01-acre lot along a major artery with 34,116 VPD. 100% NNN leased to four tenants including 7,432 SF Blue Cloud Pediatric Surgery Centers. NOI $453K/yr. $7M. 6.47% cap.

9. Mixed-use Center in Summerfield, FL: 25,805 SF consisting of four multitenant buildings completed in 1995 on a 3.26-acre lot. Close to UF Health The Villages Hospital and Walmart Supercenter in Orlando suburbs. 89% occupied by medical and professional tenants. NOI $397K/yr. $5.75M. 6.90% cap.

10. Shopping Center in Summerfield, FL: 42,220 SF attractive shopping plaza developed in 1998 on a 6.82-acre lot. Close to UF Health The Villages Hospital and Walmart Supercenter in Orlando suburbs. 100% leased to multiple tenants including Pizza Hut, Jimmy John’s, and H&R Block. NOI $814K/yr. $12.25M. 6.64% 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.