08-07: Kroger Shadow Plaza, MOB, TJ Maxx Anchored Center, Strip Center, InterDent, Shopping Plazas, Planet Fitness Anchored Center

 

1. MOB in Toledo, OH: 18,711 SF attractive two-story medical office building completed in 1994 on a 1.58-acre lot. Located in an affluent neighborhood with an AHI of $155K/year in a 1-mile radius. Along a major retail corridor with 52,500 CPD. With easy access to I-475. Fully occupied by four tenants, including Nationwide Children’s and ProMedica. NOI $245K/year. $3.385M. 7.25% cap.

2. Strip Center in Milford, OH: 9,016 SF well-maintained retail center built in 2001 on a .81-acre lot. At a signalized corner location. Shadow anchored by The Home Depot and adjacent to Meijer. In high-income Cincinnati MSA. 100% NNN leased to MyEyeDr., Dickey’s BBQ Pit, Great Clips, No. 1 Kitchen, and A&B Nails Spa. NOI $184K/year. $2.54M. 7.25% cap.

3. Strip Center in Carpentersville, IL: 13,820 SF multitenant retail center on a .86-acre lot. At a hard corner location. In affluent Chicago metro with an AHI of $112K/year in a 3-mile radius. 100% leased to five long-term tenants. NOI $231K/year. $3.197M. 7.25% cap.

4. TJ Maxx Anchored Center in Madison, AL: 60,767 SF eye-catching retail center developed in 2008 on an 8.1-acre lot. Adjacent to Hwy-72 with 51,669 VPD. In Huntsville suburbs. 100% occupied. NOI $717K/year. $9.375M. 7.65% cap.

5. Planet Fitness Anchored Center in Cincinnati, OH: 67,246 SF shopping mall built in 1990 on a 7.86-acre lot. At a major retail hub. Affluent area with an AHI of $157K/year in a 3-mile radius. Next to Waterstone Center with Costco Wholesale, Target, Ross, Old Navy, Best Buy, and Michaels. With easy access from I-71. Key tenants include Planet Fitness, Salon Lofts, H&R Block, Play it Again Sports, and LensCrafters. NOI $784K/year. Price/cap N/A. Attractive assumable debt: $5.3M loan at 4.04% interest rate.

6. Strip Center in Canton, OH: 20,751 SF well-kept retail center constructed in 1999 in Cleveland metro. All tenants face a busy corridor with 24,590 VPD. Near I-77. NOI $227K/year. $2.845M. 8% cap.

7. InterDent in Rocklin, CA: 3,442 SF single-tenant medical office building completed in 2003. In fast-growing Sacramento suburbs. 100% leased till 2028 to InterDent with 175 practices across eight states. NOI $90K/year. $1.28M. 7% cap.

8. Retail Center in Decatur, IL: 11,000 SF multitenant retail center renovated in 2023 on a 1.67-acre lot. Close to Decatur Memorial Hospital. Next to Hwy-48. Fully occupied by nine tenants. NOI $109K/year. $1.25M. 8.75% cap.

9. Shopping Plaza in Fort Wayne, IN: 80,119 SF well-maintained neighborhood plaza renovated in 2015. With multiple points of ingress/egress. Key tenants: Anytime Fitness, O’Reilly Auto Parts, Dollar Tree, Sola Salons, and Five Guys. 87% occupied. NOI $688K/year. $8.6M. 8% cap. Upside potential when fully occupied.

10. Kroger Shadow Anchored Centers in Louisville, KY: 55,814 SF attractive retail plaza built in 1986 on an 8.82-acre lot. Shadow anchored by a 123,000 SF Kroger. At a high-traffic corridor. 86% occupied by retail, medical, and professional tenants. Mostly NNN leased. NOI $565K/year. $7.293M. 7.75% cap. Upside potential. Note: brochure not avail, full brochure upon request.

 

 

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.

 

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