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09-24: DaVita Dialysis, Wells Fargo, MOB, Walgreens, Advance Auto Parts, Medical Plaza, Concentra Urgent Care, Family Dollar

1.   DaVita in Rockford, IL: 9,920 SF build-to-suit attractive dialysis center completed in 2004 on 1.57 ac lot. Adjacent to 254-bed OSF Saint Anthony Medical Center. IL is a Certificate of Need State (CON). 100% NNN- corp lease with over 13 years left. NOI $200K/yr with 2% annual rent increases. $3.338M. 6% cap.

2.   Wells Fargo Bank in San Francisco, CA: 7,574 SF well maintained single tenant retail building on .13 ac corner lot. Near Golden Gate Park. 100% NNN lease to a national credit tenant. NOI $280K/yr with 2% annual rent increases. $6.6M. 4.25% cap.

3.   Walgreens in Meridian, ID: 15,120 SF well kept drive-thru pharmacy completed in 2000 at a hard corner location in high income (AHI $89K/yr in a 5 mile radius) Boise suburbs. 100% NNN- corp lease till 2025. NOI $399K/yr. $5.5M. 7.25% cap.

4.   Professional Office in Loves Park, IL: 10,494 SF attractive multitenant office building completed in 2006 on 1 ac lot in affluent Rockford suburbs. 100% NNN leased to JWW Dental and Broadcast Raymond James. NOI $167K/yr. $1.98M. 8.47% cap.

5.   MOB in San Antonio, TX: 11,995 SF Class-B attractive medical office building built in 2017 on over 1.5 ac lot in affluent neighborhood with an AHI of $123K/yr in a 3 mile ring. Conveniently located between Methodist Hospital Stone Oak and Baptist Children’s Hospital at North Central. 85% NNN leased with good tenant mix including Tenet Healthcare, Airrosti Rehabilitation, North Hills Family Medicine and Veteran Evaluation Services. NOI $323K/yr. $4.9M. 6.60% cap. Upside potential when fully leased.

6.   Advance Auto Parts in Waterloo, IA: 6965 SF well kept single tenant auto center on .83 ac lot at a signalized corner location. 100% NNN- corp lease till 2035. NOI $70K/yr. $1.014M. 6.90% cap.

7.   MOB in Derby, KS: 17,463 SF multitenant medical office building renovated in 1995 on 1.79 ac lot at a signalized corner location in Wichita MSA. 100% NNN leased to three medical tenants. NOI $271K/yr. $3.2M. 8.50% cap.

8.   Medical Plaza in Ocala, FL: 42,763 SF consisting of seven multitenant medical office buildings renovated in 2018 on 5.58 ac lot. Close to West Marion Community Hospital. With easy access to I-75. 75% leased to eleven tenants. Mostly NNN leases. NOI $352K/yr. $4.65M. 7.58% actual cap. Upside potential when fully leased.

9.   Concentra Urgent Care in New Berlin, WI: 7,769 SF well maintained single tenant medical building on .90 ac lot in affluent (AHI $117K/yr in 1 mile radius) Milwaukee metro. 100% NNN- corp lease till 2023 to a strong credit tenant with over 520 urgent care centers in 44 states. NOI $145K/yr with annual CPI rent bumps. $1.25M. 11.62% cap.

10.Family Dollar in Westland, MI: 8329 SF build-to-suit single tenant retail building completed in 2014 on .74 ac lot in Detroit metro. 100% NNN- corp lease till 2023. NOI $133K/yr. $1.667M. 8% 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.