12-09: Professional Building, Portfolio of Retail Centers, Jiffy Lube, Walgreens, Shopping Centers

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Daily Best 10 Commercial Properties
 

1.     Retail Center in Jones Creek, GA: 16,340 SF attractive strip center built in 1997 on 1.87 ac lot in growing and affluent Atlanta suburbs with an AHI of $120K/yr. Shadow anchored by Home Depot & Target and across from Wholefoods Market. 100% leased to five tenants. NOI $223K/yr. $3.005M. 7.44% cap.

2.     Shopping Center in West Palm Beach, FL: 41,711 SF well maintained shopping center on 4.32 ac lot along major artery. Adjacent to Publix Super Market shopping center. 88% leased. Actual NOI $490K/yr. $5.7M. 8.60% cap. Upside potential.

3.     Shopping Center in Lake Worth, FL: 38,530 SF well kept shopping center on 3.38 ac lot. Adjacent to two major shopping centers with Walmart Neighborhood Market and Marshalls.  95% leased. Actual NOI $397K/yr. $5.45M. 7.30% actual cap.

4.     Walgreens in Lake Charles, LA: 14,490 SF well maintained drive-thru drug store constructed in 2001 on over 1 ac corner lot in high income area. 100% NNN- corp lease with 5 yrs left. NOI $288K/yr. $3.84M. 7.50% cap.

5.     Retail Building in Kokomo, IN: 5500 SF newly constructed retail building on .60 ac outparcel to Kokomo Mall. 100% NNN leased. NOI $81K/yr. $1.05M. 7.75% cap.

6.     Jiffy Lube in Mesa, AZ: 1589 SF three-bay single-tenant auto center on .27 ac lot along major retail corridor in growing Phoenix suburbs. Close to major shopping centers with Costco, Walmart Supercenter, Fry’s Supermarket. With easy access to Hwy-60. 100% NNN leased with over 7 yrs left to a strong operator with over 50 units. NOI $91K/yr with 10% rent increases every 5 yrs. $1.361M. 6.75% cap.

7.     Retail Center in Winston Salem, NC: 22,936 SF well maintained retail center on nearly 2 ac lot in high income neighborhood with AHI of $88K/yr. 100% leased to Dollar General, Wyatt & Dad Shoe Repair, KC Hair Salon, L.U.V. Nails, CrossFit Amplitude and South Fork Electric. NOI $142K/yr. $1.781M. 8% cap.

8.     Shopping Centers Portfolio in McDonough, GA: a portfolio of three retail centers with 20,050 combined SF in growing Atlanta suburbs. 100% leased to seventeen tenants. NOI $226K/yr. $2.385M. 9.50% cap.

9.     Professional Building in Lambertville, MI: 22,676 SF Class-B professional building completed in 2004 on 6.54 ac lot in growing and upper middle-class Toledo MSA. Major tenants: Aspen Urgent Care, and Directions Credit Union. 88% leased to professional and medical tenants. Proforma NOI $288K/yr. $3.2M. 9% cap.

10.  Retail Center in Bolingbrook, IL: 9851 SF retail center built in 2004 on 1.62 ac lot in Chicago suburbs. Good demographics: fast growing (128% pop growth) and affluent (AHI $136K/yr) neighborhood. Adjacent to CVS Pharmacy. 88% NNN leased to Papa John’s, Eye Level, Serene Dental, J&J Nails and Sesame Chinese. Actual NOI $170K/yr. $2.1M. 8.13% actual cap. Upside potential.

 
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: Avg. 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.