03-31: Walgreens, Tuffy Auto, Retail Centers, Shopping Centers

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  1. Retail Center in Edinburg, TX: 12,025 SF retail center built in 2007 on over 1 ac lot in fast growing McAllen suburbs. Across from Walmart Supercenter. 92% NNN leased with good tenant mix including: Subway, Metro PCS and SuperCuts. NOI $236K/yr. $3.29M. 7.20% cap.
  2. Shopping Center in Crowley, TX: 26,158 SF brick & Stone construction shopping center built in 2003 on 2.54 ac lot in growing and high income Fort Worth suburbs. Tenants include: Vixen Vapors, Integrated Spinal Solutions, Dental Office, Edward Jones, Nail Salon, Stacy Nicole, Advance America, Planet Beach and Italian Restaurant. 61% NNN leased. Actual NOI $175K/yr. $2.815M. 6.25% actual cap. Upside potential.
  3. Strip Center in Fort Worth, TX: 9730 SF strip center completed in 2006 on 1 ac lot along main corridor in growing and high income area with an AHI of $94K/yr in 1 mile. 66% NNN leased with only two vacancies. Actual NOI $87K/yr. $$1.455M. 6% actual cap. Upside potential.
  4. Neighborhood Center in Pearland, TX: 42,719 SF eye-catching shopping center built in 2007 on over 20 acres of land in growing (274% pop growth since 2000) and affluent (AHI $101K/yr in 1 mile) Houston suburbs. Shadow anchored by 100,000 SF Kroger Grocery. On off/on ramp of Fwy-288. 91% leased. Pro forma NOI $989K/yr. $13.2M. 7.5% cap.
  5. Retail Center in Urbandale, IA: 22,771 SF retail center built in 2001 on 3 ac lot in high income (AHI $99K/yr in 3 miles) Des Moines suburbs. Outparcel to Super Target and Home Depot. Next to I-80. 86% NNN leased. NOI $239K/yr. $3.189M. 7.50% cap.
  6. Shopping Center in Midlothian, IL: 62,684 SF shopping center renovated in 2008 on 9 ac lot at a signalized corner location in upper middle class Chicago suburbs. Notable tenants include: Charter Fitness, White Castle, Subway, H&R Block and State Farm. 75% NNN leased. Actual NOI $489K/yr. $6.12M. 8% actual cap.
  7. Walgreens in McDonough, GA: 15,120 SF Walgreens Pharmacy constructed in 2001 on nearly 2 ac lot at a hard corner location in fast growing Atlanta suburbs. 100% NNN- corp lease with 6-yrs left. NOI $347K/yr. $4.968M. 7% cap.
  8. Strip Center in Lithia Springs, GA: 4747 SF attractive strip center constructed in 2010 on .72 ac lot in Atlanta metro. All tenants face main corridor. Adjacent to Walgreens and across from Kroger Center. 100% NNN leased to 3 brand name tenants: AT&T, Church’s Chicken and Liberty Tax. NOI $84K/yr. $1.12M. 7.53% cap.
  9. Tuffy Auto in Port Saint Lucie, FL: 3960 SF auto service center built in 2004 along major retail artery in fast growing city. 100% NNN lease with 4-yrs left. NOI $113K/yr. $1.6M. 7.09% cap.

(c) Transmercial 2015

03-30: Lonestar Steakhouse, MOB, Office Buildings, Shopping Centers

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  1. Shopping Center in Ocala, FL: 90,440 SF attractive shopping center built in 1993 on 15.76 ac lot anchored by Save-A-Lot grocery and Beall’s Outlet. Between Walmart Supercenter and Winn-Dixie Plaza. NNN lease with excellent tenant mix. NOI $756K/yr. $8.975M. 8.43% cap.
  2. Medical Office Building in Sicklerville, NJ: 12,665 SF recently renovated multitenant office building in growing and middle class Philadelphia suburbs. 100% leased. $2.1M. NOI N/A.
  3. Strip Center in Sanford, FL: 8436 SF strip center built in 2004 on nearly 1 ac lot at a signalized intersection.  Adjacent to Walmart Supercenter, close to Seminole Towne Center and I-4. 95% leased to national, regional and local tenants. NOI $223K/yr. $3.195M. 7% cap.
  4. Retail Center in Machesney Park, IL: 10,580 SF retail center on 1 ac outlot to Kohl’s in upper middle class Rockford suburbs. Close to Home Depot and Target. 100% NNN leased to H&R Block, Subway and other stable tenants. NOI $156K/yr. $1.734M. 9% cap.
  5. MOB in Spring Hill, FL: 25,435 SF Class-A consisting of three buildings on 2.89 ac lot in Tampa suburbs. Tenants include: DaVita Dialysis, Renal Hypertension, Bright Beginnings and Horizon Home Health Care. 100% NNN leased. NOI $520K/yr. $8M. 6.50% cap.
  6. MOB in Bryan, TX: 11,960 SF Class-A medical office building constructed in 1997 on 1 ac lot across from St. Joseph Regional Health Center. 100% NNN lease with 5-yrs left to St. Joseph Health Systems. NOI $206K/yr. $2.498M. 8.25% cap.
  7. Lonestar Steakhouse in Cedar Rapids, IA: 8052 SF Steakhouse Restaurant on over 1 ac outparcel to Home Depot and along major retail artery. Across from Lindale Mall. 100% absolute NNN corp lease with 7-yrs left. NOI $156K/yr. $1.96M. 8% cap.
  8. Office Building & Restaurant in Poughkeepsie, NY: 35,000 SF consisting of three story multitenant office building anchored by Bank of America and restaurant on 1.40 ac lot in New York MSA. 80% leased. Actual NOI $760K/yr. $9.5M. 8% actual cap. Upside potential.

(c) Transmercial 2015

03-27: TJ-Maxx, Advance Auto Parts, Fast Auto & Payday Loans, VCA Animal Hospital, O’Reilly, Tire Rama, Mulligan’s Bar and Grill

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  1. Shopping Center in Katy, TX: 32,387 SF attractive retail center built in 2005 on 4.58 ac outlet to Walmart Supercenter in a fast growing and high income (AHI $107K/yr in 3 miles) Houston MSA. Good tenant mix include: Pizza Hut, State Farm, Subway and Payless Shoe Source, Dentist, Tutoring Center, China Buffet, Hair Salon and Nail Salon and more. 89% NNN leased. $585K/yr. Price: Best Offer, expected to trade at $8+M or 7.25% cap.
  2. TJ-Maxx in Spark, NV: 24,647 SF American Department Store constructed in 2012 on over 2 ac lot next to Target. Across from The Outlets Sparks. Near Wild Island Family Adventure Park and I-80.  100% NNN- lease with over 7-yrs left. NOI $245K/yr with 5% rent bumps. $3.8M. 6.5% cap.
  3. Advance Auto Parts in Richmond, VA: 6750 SF automotive center built in 1995 on nearly 1 ac lot in a growing & middle class area. Across from Food Lion & Rite Aid center. 100% NNN lease with 5-yrs let. NOI $89K/yr. $1.238M. 7.25% cap.
  4. Fast Auto and Payday Loans in Hayward, CA: 1,200 SF completely remodeled retail building on .34 ac corner lot at a signalized intersection in Alameda County. Across from Big Lots and 99 Centers Only Store shopping center. Close to Kaiser Permanente Post Acute Hospital and I-238. New 7-yrs NNN lease. NOI $75K/yr. $1.26M. 6% cap.
  5. VCA Animal Hospital in Las Vegas, NV: 5551 SF animal hospital in growing and upper middle class area. 100% NNN lease to publically traded VCA Animal Hospitals (NASDAG: WOOF) with 2-yrs left.  NOI $118K/yr. $1.45M. 8.16% cap.
  6. O’Reilly Auto Parts in Phoenix, AZ: 7000 SF well maintained auto parts store built in 1998 on .83 ac lot at a hard corner location. Recently extended absolute NNN lease with over 8-yrs left. NOI $91K/yr. $1.516M. 6% cap.
  7. Retail Center in Mount Laurel, NJ: 39,182 SF attractive retail center on over 4 ac lot in high income Philadelphia suburbs with an AHI of $105K/yr in a 3-mile ring. 90% NNN lease with excellent tenant mix including: Bank of America, Saladworks, AtlantiCare Urgent Care Center among other national, regional and local tenants. NOI $623K/yr. $8.9M. 7% cap.
  8. Tire Rama in Spokane, WA: 10,754 SF L-shaped auto center at a corner location and along main retail artery. Close to Northtown Mall and Providence Holy Family Hospital. 100% NNN lease with 8-yrs left to a regional tenant with over 40-units. NOI $119K/yr with annual CPI rent bumps. $1.768M. 6.75% cap.
  9. 7-Eleven Retail Building in Lombard, IL: 4850 SF attractive retail building on .53 ac corner lot in high income (AHI $87K/yr in 3 miles) Chicago suburbs. 100% NNN lease to three tenants including 7-Eleven. NOI $84K/yr. $1.125M. 7.50% cap.
  10. Mulligan’s Bar and Grill in Las Vegas, NV: 3500 SF highly rated on Yelp restaurant built in 2001 on .63 ac corner lot in growing and upper middle class area with an AHI of $80K/yr in 3-miles. 16-yrs absolute NNN lease with over 12-yrs left. NOI $150K/yr. $2M. 7.50% cap.

(C) Transmercial 2015

03-26: Hooters, Family Dollar, Fresenius, Shopping Centers

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  1. Hooters in Columbia, SC: 5793 SF Sports Bar & Grill Restaurant built in 1998 on 1.31 ac lot on an off/on ramp of I-27. Adjacent to Columbiana Centre, Walmart Supercenter, Home Depot, and Lowes.  20-yrs absolute NNN corp lease with 10-yrs left. NOI $212K/yr with rent bumps every 5-yrs. $2.599M. 8.20% cap.
  2. Strip Center in Atlanta, GA: 6000 SF attractive strip center constructed in 2009 on .80 ac lot. 1010% NNN leased to Dunkin’ Donuts, Jimmy John’s and Gourmet Sandwiches. NOI $130K/yr. $1.828M. 7.13% cap.
  3. Retail Building in Myrtle Beach, SC: 8058 SF retail building across from Walmart Supercenter and Costco. Close to Coastal Grand Mall with Dillard’s, Belk and JCPenney. 100% NNN leased to Vitamin Shoppe and Men’s Wearhouse. NOI $240K/yr. $3M. 8% cap.
  4. Shopping Center in Henderson, NV: 64,599 SF well maintained shopping center completed in 2003 on 5.74 ac outparcel to Galleria at Sunset. Surrounded by major power centers with Walmart, Target, Bed Bath & Beyond and more. With easy access to Hwy-95. Major tenants include: Walgreens, Buffalo Wild Wings, Panera Bread and Sports Clips. 94% leased. NOI $1.383M/yr. $19.275M. 7.18% cap.
  5. Neighborhood Center in Indianapolis, IN: 102,678 SF well kept shopping center on 11½ ac lot anchored by Big Lots and HHGregg in a fast growing area. Across from Washington Square Mall. 85% leased. NOI $483K/yr.  $6.45M. 7.50% cap.
  6. Retail Center in Houston, TX: 18,864 SF retail center on 1.69 ac lot with excellent visibility. Close to New Forest Crossing and The Shops at Stone Park major power centers. 100% leased with medical and retail tenants including Dow Emergency Care. 8% cap. NOI/Price N/A.
  7. Retail Building in Mesa, AZ: 4900 SF attractive retail building at a signalized intersection. Outparcel to Bashas’ grocery, Big 5 Sporting, Dollar General, Big Lots, Harbor Freight Tools and Goodwill. 100% leased to Filiberto’s Mexican Food & T-Mobile. NOI $137K/yr. $1.82M. 7.54% cap.
  8. Office Building in Charlotte, NC: 24,870 SF Class-B single tenant office building in growing and upper middle class area. New 10-yrs NNN lease to Integra Employer Health. NOI $372K/yr. $4.5M. 8.29% cap.
  9. Office building in Vancouver, WA: 32,000 SF Class-B office building renovated in 2012-2014 on 2 ac lot in Portland suburbs. Near I-5. 95% leased to multiple tenants. Pro forma NOI $245K/yr. $3.65M. 6.70% cap.
  10. Family Dollar & Fresenius in Memphis, TN: 16,269 SF two-tenant retail building in a fast growing area. 100% NNN leased to Family Dollar and Fresenius Dialysis. NOI $226K/yr. $3.55M. 6.38% cap.

(c) Transmercial 2015

03-25: Walgreens, Retail Centers, Strip Centers

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  1. Retail Center in Queen Creek, AZ: 16,798 SF attractive retail center on 2.68 ac lot in a fast growing (851% pop growth since 2000) and high income (AHI $94K/yr in 3 miles) Phoenix metro. 100% leased to national and local tenants. NOI $306K/yr. $4.247M. 7.21% cap.
  2. Retail Center in Chicago, IL: 12,704 SF well maintained retail center built in 2005 on .51 ac lot along main corridor. 74% leased to five tenants. Actual NOI $90K/yr. $1.2M. 7.50% cap.
  3. Strip Center in Corona, CA: 10,169 SF strip center constructed in 2005 on 1.40 ac lot at a hard corner location in high income Riverside County. 100% leased with a good tenant mix including Juice It Up and Pacific Dental Services. NOI $282K/yr. $4.915M. 5.75% cap.
  4. Office Building in Madison, WI: 19,200 SF Class-B single tenant office building completed in 2001 on 2.49 ac lot in upper middle class area. New 10-yrs NNN lease. NOI $246K/yr with 2% annual rent increases. $3.29M. 7.5% cap.
  5. Walgreens in Saint Augustine, FL: 15,525 SF Walgreens pharmacy on 1.51 ac lot. Adjacent to Ponce de Leon Mall and near 335-bed Flagler Hospital. Newly extended NNN corp lease with 5-yrs left. NOI $225K/yr. $3.601M. 6.25% cap.
  6. Retail Center in Edinburg, TX: 13,040 SF retail building constructed in 2008 in McAllen suburbs. 100% leased to First Community Bank, All Stars Club, Metro PCS, Select Staff, EZ-Loans, Mr. Press Dry Cleaners and El Meson Mexican Restaurant.. NOI $231K/yr. $2.8M. 8.25% cap.
  7. Strip Center in Houston, TX: 9600 SF attractive strip center on .86 ac outparcel to Home Depot and along Hwy-6. 100% NNN leased. Price/NOI N/A.
  8. Retail Center in Mount Pleasant, WI: 16,124 SF retail center on an outparcel to Walmart and Menards in fast growing middle-class area. 81% leased. Actual NOI $177K/yr. $2.15M. 8.25% cap.

(c) Transmercial 2015

03-24: Carsmetics; MOB; Retail Centers; Strip Centers

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  • Retail Center in Houston, TX: 13,285 SF attractive retail center built in 2008 on 1.35 ac lot at a signalized corner location. On an off/on ramp of Hwy-8. 90% leased to six tenants. NOI $272K/yr. $3.4M. 8% cap.
  • Strip Center in Appleton, WI: 15,957 SF fully renovated strip center. NNN leased with long term tenants. NOI $117K/yr. $1.55M. 7.56% cap.
  • Shopping Center in Saint Petersburg, FL: 34,200 SF well maintained shopping center on 4 ac lot along busy corridor in Tampa suburbs. Close to Walmart and Bay Pines VA Healthcare Systems. 100% leased. NOI $245K/yr. $3.5M. 7% cap.
  • MOB in Round Rock, TX: 4423 SF Class-A multitenant medical office building completed in 2009 on over 2 ac lot in growing and high income (AHI $105K/yr) Austin suburbs. Adjacent to St David’s Round Rock Medical Hospital. 100% NNN leased to three physicians. NOI $120K/yr. $1.4M. 8.50% cap.
  • Retail Center in Reno, NV: 14,429 SF retail center built in 2007 in a growing and upper middle class area. Close to Meadowood Mall and I-580. 87% leased to St Mary’s Urgent Care Facility and Western Dental. Actual NOI $348K/yr. $4.8M. 7.25% actual cap. Upside potential.
  • Neighborhood Center in Lombard, IL: 131,601 SF well maintained shopping center on over 12 acres of land in high income Chicago suburbs with an AHI of $86K/yr in 1 mile. 78% leased with national, regional and local tenants. Actual NOI $449K/yr. $4.695M. 9.57% cap. Upside potential when fully leased.
  • Retail Center in Phoenix, AZ: 16,980 SF retail center built in 2009 on nearly 2 ac lot in a fast growing area. Tenants include: Family Dollar, Quick Check Tax Services, City Nails & Spa, Boost Mobile and Krispy Krunchy Chicken. 85% leased with two vacancies. Pro forma NOI $192K/yr. $2.56M. 7.50% pro forma cap.
  • Retail Building in Pearland, TX: 6600 SF well maintained retail building on 1 ac lot in growing and high income (AHI $98K/yr) Houston MSA. 100% NNN leased to Verizon and Just Brakes. NOI $120K/yr. $1.857M. 6.50% cap.
  • MOB in San Jose, CA: 9454 SF mature multitenant medical office building on .61 ac lot in growing Silicon Valley. Across from Regional Medical Center of San Jose and with easy access to I-680.  72% leased. NOI $195K/yr. $3.35M. 5.84% cap.
  • Carsmetics in Brick, NJ: 7500 SF single tenant auto body shop renovated in 2011 on .34 ac lot in growing and high income (AHI $82K/yr) coastal town. 100% NNN lease with 7-yrs left. NOI $119K/yr. $1.55M. 7.74% cap.

03-23: Famous Dave’s, Jiffy Lube, MOB, Shopping Center, Retail Centers

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  1. Shopping Center in National City, CA: 84,230 SF well kept shopping center on 6.74 ac lot anchored by Wrigley’s Supermarket at a hard corner location in Southern California. Close to Paradise Valley Hospital and I-805. 92% NNN leased. NOI $1.079M/yr. $15.5M. 6.96% cap.
  2. Neighborhood Center in Madera, CA: 134,833 SF shopping center constructed in 1992 on 13.51 ac lot anchored by Pak N Save Grocery (owned by Safeway). Shadow anchored by 118,963 SF Walmart and with easy access to Hwy-99. 91% leased with local, national and regional tenants. NOI $1.6M/yr. $21.335M. 7.50% cap.
  3. Retail Center in Santa Fe, NM: 56,368 SF well maintained shopping center on 6.70 ac lot at a major signalized intersection.  Shadow anchored by Smith’s Food & Drug.  Near Christus St Vincent Regional Medical Center. NNN leased. NOI $636K/yr. $7.95M. 8% cap.
  4. MOB in Las Vegas, NV: 43,897 SF multitenant medical office building completed in 1997 on 2.60 ac lot. Adjacent to Mountain View Hospital and near Hwy-95. 75% leased. Actual NOI $638K/yr. $9.35M. 6.83% actual cap. Upside potential.
  5. Retail Center in Northglenn, CO: 34,272 SF attractive retail center on 3.59 ac lot in growing upper middle class area. With good visibility and with easy access to I-25. 95% leased. NOI $424K/yr. $5.25M. 8.10% cap.
  6. Retail Center in Austin, TX: 12,500 SF attractive retail center at a corner location. Near Walmart Supercenter and Hwy-183. NNN leases. NOI $234K/yr. $3.6M. 6.50% cap.
  7. Famous Dave’s in Aurora, CO: 6698 SF BBQ wood smoked restaurant constructed in 2010 on 1.55 ac outparcel to Cornerstar Center with Target, DSW, Ross Dress for Less and Home Goods. Good demographics:  2,199% pop growth since 2000 and high income area with an AHI of $101K/yr in a 3 mile ring. Across from Arapahoe Crossings with AMC Theaters and Kohl’s. New 15-yrs absolute NNN lease. NOI $265K/yr with 8.5% rent bumps every 5-yrs. $3.785M. 7% cap.
  8. Shopping Center in Las Vegas, NV: 77,650 SF shopping center redeveloped in 2005 on nearly 7 ac lot anchored by Albertsons at a busy intersection. Close to Sunrise Hospital and Medical Center. 90% leased. NOI $1.694M/yr. $20M. 8.47% cap.
  9. Jiffy Lube in Mission Viejo, CA: 4138 SF auto service center along busy retail corridor in affluent Orange County with an AHI of $132K/yr in 1 mile. Adjacent to major center with Big Lots, Stein Mart, Trader Joe’s and Michaels. 100% absolute NNN lease. NOI $141K/yr with 1% annual rent increases. $2.359M. 6% cap.

(c) Transmercial 2015

03-20: Fresenius; A Good Time Out; Golden Corral; La Petite Academy; MOB

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  • 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.
  1. MOB in Debary, FL: 24,000 SF 12-suites medical office building constructed in 2009 on over 4 ac lot in Orlando suburbs. Major tenants include: Family Medicine, West Orange Nephrology, Integrative Physical Med and Kid MD Pediatrics. Close to175-bed Florida Hospital Fish Memorial and I-4. 100% leased. NOI $576K/yr. $7.68M. 7.50% cap.
  2. Fresenius Medical Care in Wyoming, MI: 14,879 SF attractive built-to-suit dialysis center constructed in 1998 on 2.60 ac lot in stable Grand Rapids suburbs. With easy access to Hwy-131. 100% absolute NNN lease with 3-yrs left to a national tenant. NOI $270K/yr. $2.92M. 9.25% cap.
  3. Mixed-use in Jacksonville, FL: 23,808 SF well maintained office/ retail center on 3.21 ac lot. Across from Kmart and adjacent to Winn-Dixie and Publix Supermarket centers. 100% leased with good tenant mix. NOI $220K/yr. $1.95M. 11.32% cap.
  4. Strip Center in Hilliard, OH: 3,832 SF eye-catching strip center completed in 2006 in high income Columbus metro. 100% NNN leased to Cuzzin’s Yogurt, Mod Salon, Jet’s Pizza and Elite Vapor. NOI $119K/yr. $1.442M. 8.25% cap.
  5. A Good Time Out in Bakersfield, CA: 5400 SF highly rated on Yelp day care center constructed in 2005 on .55 ac lot. Adjacent to Endeavour Elementary School and close to major shopping centers. 100% NNN leased. NOI $100K/yr. $1.4M. 7.17% cap.
  6. Department of Public Health in Bellwood, IL: 13,655 SF well maintained office building on .75 ac lot in Chicago suburbs. Tenant has been at this location of 20-yrs. 100% lease with over 3-yrs left to Illinois Department of Public Health with A- credit rating. NOI $122K/yr. $1.257M. 9.74% cap.
  7. MOB in Snellville, GA: 22,606 SF value-add Class-B medical office building on 2.24 ac lot in upper middle-class Atlanta suburbs. Close to Eastside Medical Center. 50% NNN leased with 5-yrs left to Northside Hospital, a Metro Atlanta Healthcare System . Actual NOI $186K/yr. $3.1M. 6% actual cap.
  8. Golden Corral in Indianapolis, IN: 10,003 SF Golden Corral buffet restaurant built in 1999 on 1.92 ac outparcel to Washington Square Mall.  100% NNN lease with 14-yrs left to a strong franchisee with 13 units.  NOI $185K/yr with 10% rent bumps every 5 yrs. Store with strong sales. $2.56M. 7.25% cap.
  9. Retail Building in Chandler, AZ: 9478 SF well maintained retail center on over 1 ac lot at a hard corner location in Phoenix suburbs. Across from Walmart and Fry’s Food center. Close to East Valley Mall. 100% NNN leased. NOI $153K/yr. $1.85M. 8.30% cap.
  10. La Petite Academy in Albuquerque, NM: 8900 SF day care center constructed in 1994 on .89 ac lot in a fast growing and affluent (AHI $95K/yr) neighborhood. 100% absolute NNN corp lease with 8-yrs left. NOI $171K/yr with annual rent bumps. $2.14M. 8% cap.

(c) Transmercial 2015

03-19: MOB, La Petite Academy, Shopping Centers, Strip Centers

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  1. Retail Center in Richland, WA: 13,805 SF retail center built in 2007 on 1 ac lot at a signalized location in Kennewick suburbs. Close to Columbia Center Mall. 92% leased. NOI $199K/yr. $2.85M. 7.01% cap.
  2. Shopping Center in Sandy, UT: 51,914 SF well maintained in-line shopping center on over 7 ac lot at a major retail artery in high income (AHI $105K/yr) Salt Lake City MSA. Shadow anchored by Shopko and Smith’s Grocery.  Across from Home Depot and The Fresh Market Center. Near Alta Valley Hospital. Pro forma NOI $735K/yr. $9M. 8.17% cap.
  3. MOB in Valhalla, NY: 25,118 SF Class-B multitenant office building on 1.31 ac lot in affluent New York suburbs with an AHI of $128K/yr in a 3-mile ring. 75% leased with a good mix of medical & professional tenants. NOI $352K/yr. $4.4M. 8% cap.
  4. Mixed-use in Marlborough, MA: 13,245 SF Class-B office/retail center on .82 ac lot in growing and high income (AHI $93K/yr in 3 miles) Boston metro. 80% leased. NOI $163K/yr. $2M. 8.19% cap.
  5. Retail Center in Southaven, TN: 15,900 SF attractive retail center built in 2007 on 2.29 ac lot in growing Memphis suburbs. Close to Baptist Memorial Hospital-Desoto and I-55/69. 100% NNN leased to Belhaven University, Ageless Men’s Health, Firehouse Subs, Batteries Plus, AAA, Sport Clips and Swankys Taco Shop. NOI $275K/yr. $3.5M. 7.87% cap.
  6. Retail Center in Clinton, UT: 34,186 SF in-line retail center built in 1999 on nearly 3 ac lot at a hard corner location in growing and upper middle-class city North of Salt Lake City. Shadow-anchored Maceys Grocery & across from Lowe’s and Walmart. 72% leased. Pro forma NOI $494K/yr. $6.615M. 7.25% pro forma cap.
  7. Retail Center in Olathe, KS: 16,139 SF attractive retail center constructed in 2004 on an outparcel to Lowe’s, Petco and Hen House Market in Kansas City suburbs. Across from Walmart Supercenter. 100% leased to six local & national tenants including Subway and Jose Peppers. NOI $262K/yr. $3.5M. 7.50% cap.
  8. MOB in Bradenton, FL: 26,180 SF Class-A medical office building on 3.45 ac lot close to 294-bed Blake Medical Center. 90% leased to multiple tenants. NOI $323K/yr. $3.895M. 8.30% cap.
  9. Strip Center in Alsip, IL: 11,238 SF well kept strip center in upper middle class Chicago suburbs. All units face main road. Tenants include: Country Pantry, Alsip Cleaners, Hair Salon, Nexus Staffing, Bakery, Barber Shop and Poor Dog Restaurant. NOI $147K/yr. $1.55M. 9.50% cap.
  10. La Petite Academy in Albuquerque, NM: 6800 SF well maintained day care facility on .65 ac lot in growing (55% pop growth) and upper middle-class (AHI $80K/yr in 3 miles) neighborhood. Close to Cottonwood Mall.  100% absolute NNN lease with 6-yrs left. NOI $129K/yr. $1.547M. 8.35% cap.

(c) Transmercial 2015

03-18: Fresenius Dialysis Center, Famous Dave’s, Walgreens, Office Buildings

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  • Office Building in Sacramento, CA: 14,333 SF Class-B multitenant office building on over 1 ac corner lot along major artery in growing and upper middle-class area. Close to Country Club Plaza and Kaiser Permanente. 93% leased. Actual NOI $122K/yr. $1.75M. 7% cap.
  • Retail Center in Irving, TX: 30,512 SF retail center built in 1994 on nearly 2 ac lot in fast growing Dallas suburbs. Across from Irving Mall. On an off/on ramp of Hwy-183. Anchored by Fallas Discount Store. 100% NNN leased. NOI $269K/yr. $3.1M. 8.70% cap.
  • Office Building in Spring, TX: 42,000 SF Class-B office building constructed in 2002 on nearly 3 ac lot in growing and upper middle class (AHI $85K/yr in 3 miles) Houston suburbs. 89% leased. NOI $392K/yr. $5.2M. 7.55% cap.
  • Fresenius in Fort Mills, SC: 10,125 SF Class-A dialysis center built in 2005 on 1.95 ac lot in a fast growing Charlotte suburb. On an off/on ramp of I-77. 100% NNN lease with 9-yrs left. NOI $189K/yr. $2.7M. 7% cap.
  • Office Building in Wilton Manors, FL: 29,468 SF well maintained office building in Fort Lauderdale metro. Close to Coral Ridge Mall and Holy Cross Hospital. Leased with a diverse mix of  seasoned local, national and International tenants. NOI $381K/yr. $4.65M. 8.20% cap.
  • Neighborhood Center in Lakeway, TX: 101,121 SF attractive shopping center on over 11 ac lot in growing (118% pop growth since 2000) and affluent (AHI $130K/yr in 1 mile) Austin MSA. Major tenants include: Chair King and Tuesday Morning. 98% leased. NOI $1.313M/yr. $18.114M. 7.25% cap.
  • Retail Center in Austell, GA: 18,340 SF retail center built in 2007 on nearly 2 ac outparcel to Regal Pavilion Cinemas and Gold’s Gym in growing Atlanta suburbs. Major tenants include: Firehouse Subs, Oriental Café, Courtesy Finance of GA and AJA DUI School. 90% NNN leased with only one vacancy. NOI $329K/yr. $4.2M. 7.83% cap.
  • Famous Dave’s in Kennewick, WA: 7396 SF pit-smoked BBQ restaurant constructed in 2008 on 1.47 ac outparcel to Columbia Center Mall. Across from Costco. 100% absolute NNN lease with 13-yrs left. NOI $314K/yr. $4.65M. 6.76% cap.
  • Walgreen’s in Fort Worth, TX: 15,120 SF well maintained pharmacy on 1.60 ac lot at a hard corner location. 20-yrs NNN lease with over 4-yrs left. NOI $296K/yr. $4.228M. 7% cap. Strong sales of over $6M per year.
  • Retail Center in Washington, NJ: 10,227 SF attractive retail center on .62 ac lot at a signalized intersection in high income New York metro. 100% leased to stable tenants. NOI $98K/yr. $1.4M. 7.02% cap.