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11-09: Rite Aid Pharmacy, Family Dollar, DaVita Dialysis Clinic, Walgreens, NAPA Auto Parts, The Learning Experience, Burger King

1.   DaVita in Gary, IN: 13,125 SF well maintained dialysis center built in 1992 on .49 ac lot along busy retail corridor in Chicago MSA. 100% NNN- corp lease till 2025 to DaVita with 2,625 locations. NOI $271K/yr with 2% annual rent bumps. $3.879M. 7% cap.

2.   Rite Aid in Garden City, MI:11,060 SF attractive Rite Aid pharmacy completed in 2000 on 1.60 ac lot in Detroit suburbs. Close to 153-bed Garden City Hospital. 100% NNN- corp lease till 2025. NOI $248K/yr. Price reduced from $3.11M to $2.926M. 8.50% cap.

3.   Walgreens in Rock Island, IL: 13,905 SF well kept drive-thru pharmacy completed in 1997 on 1.53 ac lot at a signalized corner location in Moline suburbs. Close to 327-bed UnityPoint Health Trinity Rock Island Hospital. 100% NNN- corp lease till 2027. NOI $212K/yr. Price reduced from $3.4M to $3.269M. 6.50% cap.

4.   The Learning Experience in Antioch, CA: 10,000 SF well maintained daycare center completed in 2018 on 1.25 ac lot in high income Contra Costa County with an AHI of $130K/yr in a 3 mile radius. 15 year NNN- corp lease till 2033 to a strong operator with 450 locations. NOI $305K/yr with scheduled rent increases, $4.959M. 6.15% cap.

5.   NAPA Auto Parts in Clawson, MI: 6,000 SF well kept freestanding retail building on .45 ac lot at t signalized intersection in upper middle-class Detroit suburbs. 100% NNN- corp lease till 2024. NOI $72k/yr. $929M. 7.75% cap.

6.   99 Cents Only Stores in Bakersfield, CA: 28,848 SF big-box retail building on 2.55 ac lot along busy artery. Next to CVS Pharmacy. On an off/on ramp of Hwy-178. 100% absolute NNN lease till 2030. NOI $269K/yr. $4.494M. 6% cap.

7.   Burger in Wichita, KS: 2,600 SF drive-thru fast food restaurant built in 2006 on nearly 1 ac lot. Across from Towne East Square Mall. 20 year absolute NNN lease till 2029 to a strong franchisee with 55 units. NOI $120K/yr. $1.25M. 9.61% cap.

8.   Family Dollar in Huntington, WV: 9180 SF single tenant retail building constructed in 2010 on nearly 2 ac lot. Recent 5 year NNN- lease renewal. NOI $82K/yr. $1.037M. 7.9% cap.

9.   Family Dollar in Memphis, TN: 7842 SF well maintained freestanding retail building completed in 2011 on .64 ac lot. 100% NNN- corp lease till 2027. NOI 109K/yr. Price reduced from $1.55M to $1.3M. 8.45% cap.

10.Rite Aid in Belpre, OH: 11,180 SF drive-thru Rite Aid drug store built in 1999 on 1.88 ac lot at a signalized location. 100% NNN- corp lease with approximately 6 years left. NOI $236K/yr. $3.218M. 7.35% 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