08-06: Rite Aid, American Renal Associates, MOB, Professional Buildings, Shopping Centers

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  1. Shopping Center in Fort Worth, TX: 25,335 SF well-kept retail center on 1.87 ac lot. Adjacent to I-30. 100% NNN leased with great tenant mix. NOI $268K/yr. $3.352M. 8% cap.
  2. Professional Buildings in Lutz, FL: 10,000 SF consisting of two brick office buildings on 1.10 ac lot in high-income Tampa suburbs with a MHI of $92K/yr. in a 1-mile radius. With frontage along US Hwy-41. 100% leased to multiple professional tenants. NOI $111K/yr. $1.4M. 7.95% cap.
  3. American Renal Associates in Lakewood, CO: 7,768 SF freestanding dialysis clinic renovated in 2007 on 1.53 ac lot in Denver metro. Along six-lane busy corridor. 15-year NNNN- lease till 2023 to a strong operator with 249 locations. NOI $ 315K/yr. $4.193M. 7.50% cap.
  4. Retail Center in Stockton, CA: 17,244 SF attractive retail center renovated in 2018 on 1.70 lot in growing San Joaquin County. At a hard corner location. 100% NNN leased to retail, medical and professional tenants. NOI $326K/yr. $4.395M. 7.4% cap.
  5. Shopping Center in Bartlesville, OK: 44,187 SF attractive neighborhood plaza built in 1997 on 4.56 ac lot along main corridor. Major tenants include Walgreens, FedEx Office and Print Service, Papa John’s and OneMain Financial. 96% NNN leased. NOI $483K/yr. $6.673M. 7.25% cap.
  6. Rite Aid in Harrisburg, PA: 10,250 SF Rite Aid pharmacy constructed in 1995 on .88 ac corner lot. 100% absolute NNN corp lease with 10+ years left. NOI 168K/yr. $2.407M. 7% cap.
  7. MOB in Altamonte Springs, FL: 28,411 SF well maintained 2-story multitenant medical office building developed in 1976 on 1.59 ac lot in Orlando MSA. Adjacent to Advent Health. 86% leased. NOI $349K/yr. $5.25M. 6.65% actual cap. Upside potential when fully occupied.
  8. Retail Center in Springfield, MO: 9,000 SF attractive 6-units retail center built in 2002 on 1.26 ac lot. Leased to five solid tenants. NOI $97K/yr. $1.399M. 7% cap.
  9. Strip Center in Southgate, MI: 14,146 SF attractive retail center renovated in 2017 on 1.02 ac corner lot along busy retail artery in Detroit metro. 90% leased to four tenants. NOI $105K/yr. $1.3M. 8.11% cap.
  10. Strip Center in Waite Park, MN: 6120 SF well-kept retail center on .41 ac corner lot in St. Cloud suburbs. Across from Crossroads Center Mall. 100% leased to multiple tenants. NOI $89K/yr. $1.2M. 7.46% 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.