12-04: Advance Auto Parts, Big Lots, MOB, Shopping Centers, Multi-tenant Medical Buildings

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1.   MOB in Barnegat, NJ: 9,600 SF medical office building completed in 2009 in high income Philadelphia MSA with an AHI of $96K/yr in a 3 mile radius. 100% leased to Acenda Health (22 locations), Northeast Spine and Sport Medicine (10 locations) & Connolly Dermatology (12 locations). NOI $196K/yr. $2.45M. 8.01% cap.

2.   Shopping Center in Las Vegas, NV: 12,320 SF consisting of two well maintained retail centers constructed in 1997 on over 1 ac lot at a signalized corner location. All units face retail artery with over 26,000 CPD. 100% NNN leased to retail, medical and professional tenants. NOI $229K/yr. $2.9M. 7.91% cap.

3.   Big Lots in Bolingbrook, IL: 33,216 SF single tenant retail building built in 2001 on 3.73 ac lot in affluent Chicago metro with a MHI of $106K/yr in a 3 mile ring. Part of Country Aire Plaza with Home Depot, Goodwill, Lumber Liquidators and Casa Margarita, a Mexican restaurant. Recently extended NNN lease with over 4 years left. NOI $201K/yr. $2.7M. 7.48% cap.

4.   Strip Center in Las Cruces, NM: 6836 SF consisting of two freestanding buildings built in 2006 on 1 ac corner lot. Across from Sam’s Club. 100% NNN leased to drive-thru Starbucks Coffee, AT&T and Sushi Freak. NOI $182K/yr. $2.6M. 7% cap.

5.   Advance Auto Parts in Cypress, TX: 6,777 SF single tenant retail building constructed in 2007 on over 1 ac lot in growing Houston suburbs. Recently extended NNN lease with over 7 years left. NOI $117K/yr. $1.768M. 6.65% cap.

6.   Shopping Center in Bedford, TX: 45,240 SF well maintained retail center on nearly 4 ac lot in Dallas/Fort Worth suburbs. Fronts Hwy-183. 92% lease with mostly NNN leases. NOI $582K/yr. $7.4M. 7.87% cap. Upside potential when fully leased.

7.   Retail Center in Bethel Park, PA: 6813 SF well maintained four-tenant retail building in Pittsburgh MSA. 100% NNN leased. NOI $122K/yr. $1.55M. 7.92% cap.

8.   MOB in Fort Wayne, IN: 10,802 SF built-to-suit multitenant medical office building completed in 2017 on 1.76 ac outparcel to 200,000 SF Meijer Grocery. Close to I-69. 100% NNN leased to DirectCare, Harrison Dental Group and Carter Heating Clinics. NOI $273K/yr. $4.075M. 6.70% 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.