09-28: Perkins Restaurant & Bakery, Restore Hyper Wellness, Ollie’s Bargain Outlet Anchored Plaza, Dollar Tree Anchored Center, Steak ‘n Shake

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1. Retail Center in Cypress, TX: 10,199 SF recently renovated retail center built in 2015 on nearly 1 ac lot in affluent Houston MSA with an AHI of $170K/yr. in a 1-mile radius. 80% occupied to 6 tenants. NOI $154K/yr. with a 1-yr master lease of two small vacancies. $2.2M. 7% cap.

2. Perkins Restaurant & Bakery in Green Bay, WI: 5,560 SF franchised American casual dining restaurant renovated in 2019 on 1.27 ac lot. Shadow anchored by East Town mall with Marshalls, Hobby Lobby, KOHL’S, Planet Fitness, ALDI, and Petco. Close to Aurora BayCare Medical Center. With easy access to I-43. 100% absolute NNN till 2027 to a strong franchisee with 22 units. NOI $120K/yr. $1.714M. 7% cap.

3. Shopping Center in McMinnville, OR: 30,640 SF Class-B multitenant retail center in a fast-growing area. Next to Harbor Freight Tools, Planet Fitness, and JOANN Fabric and Crafts center. All units face Hwy-99W. 100% NNN leased. NOI $410K/yr. $6.56M. 6.25% cap.

4. Restore Hyper Wellness in Albuquerque, NM: 5289 SF single tenant building renovated in 2022 in a high-income neighborhood with an AHI of $130K/yr. Along major artery with over 32,000 VPD. 100% NNN- lease till 2032. NOI $126K/yr. with a 10% rent increases in 2026. $2.031M. 6.25% cap.

5. Shopping Center in Las Vegas, NV: 61,300 SF well maintained multitenant retail center developed in 1996 on 6.15 ac lot. Lose to Las Vegas STRIP. 100% NNN leased to Goodwill, Habitat for Humanity, and Clean-Mart. NOI $810K/yr. $13.4M. 6.05% cap.

6. Ollie’s Bargain Outlet Anchored Plaza in Orange Park, FL: 100,895 SF attractive shopping plaza renovated in 2008 on over 11 ac lot in growing Jacksonville MSA. 81% occupied to retail and professional tenants. Actual NOI $793K/yr. Expected price $10.584M – $9.923M. 7.5%-8% cap.

7. Retail Center in Irving, TX: 29,962 SF mature retail center on 1.69 ac lot in fast growing Dallas/Fort Worth suburbs. 85% NNN leased. NOI $326K/yr. $5.02M. 6.50% cap.

8. Dollar Tree Anchored Center in Slidell, LA: 35,574 SF well maintained retail plaza developed in 1983 on over 4 ac lot in New Orleans suburbs. Along major corridor with over 26,000 CPD. Close to Slidell Memorial Hospital. 100% NNN leased to multiple tenants including Dollar Tree, HotWorx Yoga with 300+ locations, The General Insurance with 18 locations, Advantage Resourcing with 80 locations, and freestanding Take 5 Oil Change. NOI $392K/yr. $4.902M. 8% cap.

9. Dollar General Market Anchored Center in Clovis, CA: 83,295 SF shopping center on 8.82 ac lot at a busy signalized corner location in Fresno suburbs. Close to California State University Fresno. With easy access to Hwy-168. With multiple points of ingress/egress. 94% leased with good tenant mix. NOI $790K/yr. $10.938M. 7.23% actual cap. Upside potential when fully occupied. Note: Flyer not available, full brochure upon request.   

10. Steak ‘n Shake in St. Ann, MO: 3619 SF American casual restaurant on 1.82 ac corner lot in St. Louis metro. Across from The Crossings at Northwest Mall. 100% absolute NNN corp lease till 2027 to an operator with 544 locations. NOI $78K/yr. $1.312M. 6% cap. Please note: flyer not available, 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.