10-02: MOB, Pep Boys, Advance Auto Parts, Jiffy Lube, Retail Centers

1.   MOB in Mesa, AZ: 20,489 SF well maintained medical office building completed in 1997 on over 2 ac lot in growing Phoenix suburbs. Close to 342-bed Banner Baywood Medical Center. 100% leased to multiple medical practices. $3.25M. NOI/Cap N/A.

2.   Advance Auto Parts in Cleveland, OH: 7,000 SF single tenant auto center built in 2005 on .82 ac corner lot. 15 year NNN- corp lease till 2024 to a strong credit tenant with 5,200 locations. NOI $83K/yr. $1.097M. 7.65% cap.

3.   Retail Centers in Sacramento, CA: 19,767 SF consisting of two well kept inline retail center at a signalized corner location in a fast growing area. Shadow anchored by Foods Co. Across from Save Mart Supermarkets and Rite Aid. 68% NNN leased with excellent tenant mix including Dominos Pizza, Subway & Boost Mobile. Actual NOI $232K/yr. $3.175M. 7.32% cap. Upside potential when fully leased.

4.   Jiffy Lube in Mesa, AZ: 3,612 SF well maintained franchised auto center on .39 ac lot along busy retail artery in high income Phoenix suburbs. 100% absolute NNN lease till 2022 to an operator with 51 locations. NOI $101K/yr. $1.421M. 7.15% cap.

5.   Jiffy Lube in Kent, WA: 2280 SF two-bay auto service center built in 1990 on .34 ac lot in Seattle suburbs. Along busy corridor with over 30,000 CPD. 100% absolute NNN corp lease till 2026. NOI $141K/yr with 3% annual rent increases. $1.945M. 7.25% cap.

6.   MOB in Foster City, CA: 43,549 SF 3-story multitenant medical building in affluent San Mateo County with an AHI of $187K/yr in a 1 mile radius. 83% leased to multiple medical and professional tenants. Actual NOI $1.093M/yr. $18.75M. 5.83% actual cap. Upside potential when fully leased.

7.   MOB in Colorado Springs, CO: 5,744 SF well kept single tenant medical office building. Near I-25. Tenant has been at this location since 1983. 100% NNN leased till 2022 to UCHealth. NOI $85K/yr. $1.115M. 7.71% cap.

8.   Jiffy Lube in Seattle, WA: 2,610 SF build-to-suit franchised auto center on along busy corridor with over 30,000 VPD. Across from Fred Meyer grocery. 100% absolute NNN corp lease till 2026. NOI $129K/yr with 3% annual rent increases. $1.99M. 6.50% cap.

9.   Retail Center in Turlock, CA: 22,398 SF well maintained retail center completed in 1989 in a fast growing area. Adjacent to Hwy-99. 63% NNN leased with good tenant mix including Subway, Little Caesars, Liberty Tax, MetroPCS, Boost Mobile and Fiesta Insurance. Actual NOI $206K/yr. $2.592M. 7.97% cap. Upside Potential.

10.Pep Boys in Tampa, FL: 4,757 SF auto center renovated in 2015 on .65 ac lot along high traffic location. 10 year absolute NNN corp lease till 2030. NOI $134K/yr with 10% rent increases every 5 years. $2.15M. 6.3% cap. Flyer not available, full brochure upon request.                                                

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.