05-08: Boston’s Pizza, Citibank, MOB, Perkins, Retail Centers

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  1. Boston’s Pizza in Fontana, CA: 6878 SF Boston’s Pizza restaurant built in 2013 on almost 1 ac lot in high income area with AHI of $96K/yr.  Easy access to a good visibility from hwy 210. 15 yrs NNN lease.  NOI $292K/yr with 10% rent bumps every 5 yrs.  $4.3M. 6.8% cap.
  2. CitiBank in Hanford, CA: 4816 SF bank on .42 ac corner lot.  100% absolute NNN lease till 2024 to Citibank with “A” S&P credit rating.  NOI $132K/yr with 1.5% annual rent bumps. $2.6M. 5.07% cap.
  3. Shopping Plaza in Memphis, TN: 104,365 SF shopping center on over 10 ac corner lot close to I-240.  Anchored by Aldi supermarket, Dollar Tree and Holliday’s Fashions. 87% leased.  NOI $528K/yr.  $6.6M. 8% cap.
  4. High Desert Plaza in Lancaster, CA: 62,011 SF retail center on 5.1 ac parcel with easy access to Hwy 14.  Anchored by High Desert Medical Center. 98% leased.  NOI $521K/yr. $7.4M. 7.04% cap.  Just less than #$120/SF!
  5. Medical Plaza in El Paso, TX: 14,274 SF class-A multi-tenant medical center right across from Providence Memorial Hospital. NOI $318K/yr.  $4.25M. 7.5% cap.
  6. Perkins Restaurant & Bakery in Independence, MO: 5500 SF Perkins restaurant built in 2011 on 1.36 ac lot near I-70 in Kansas City metro.  100% NNN leased with 17 yrs left to an operator with 13 units.  NOI $139K/yr. $2.1421M. 6.5% cap.
  7. Strip Mall in Phoenix, AZ: 7844 SF strip mall on over 1 ac lot on a major artery.  100% long-term NNN leased to Panda Express and Title Boxing Club Fitness center (a franchise with locations in 32 states).  NOI $122K/yr. $1.8M.  6.81% cap.
  8. Office Building in Oaks, PA: 14,528 SF 2-story office building constructed in 2004 on 2 ac lot in affluent (AHI $128?yr) Philadelphia suburbs.  Leased to 4 tenants.  NOI $152K/yr. $1.85M. 8.26% cap.
  9. Medical Office Building in Garden Grove, CA: 6400 SF MOB in densely populated city in Southern CA with over 700K residents in 5 miles radius. 100% leased to a medical doctor, an Ophthalmologist, and Insurance agent.  NOI $112K/yr. $2.247M. 5% cap.
(c) Transmercial 2015
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 on major commercial real estate companies, and various other sources.   Each property has a brief description and a flyer (attached).  Previous lists are posted on Transmercial’s blog after 2 weeks delay. 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.