06-15: Neighborhood center, MOBs, Office Building, Burger King

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Daily Best Commercial Properties
 

  1. Neighborhood Center in Saint Petersburg, FL: 51,619 SF neighborhood center built in 1989 on 4.3 ac lot on a 6-lane artery. Anchored by Aldi Grocery, and Davita Dialysis.  97% leased with 51% of the center occupied by national tenants. NOI $373K/yr. $4.545M. 8.2% cap.
  2. Strip Center in Coral Springs, FL: 4949 SF well maintained strip center on .54 ac corner lot in a growing and high income (AHI $93K/yr in a 3 mile radius) area. 100% leased. NOI $99K/yr. $1.125M. 8.80% cap.
  3. MOB in Fort Myers, FL: 15,448 SF Class-A single tenant medical office building on 1.43 ac lot. The subject property is surrounded by leading medical centers for cardiology, surgery, intensive care, pediatrics, rehabilitation, orthopedics, and radiology for the Lee Memorial Health System, totaling over 1,200+ beds. 100% NNN lease with 5 yrs left.  NOI $362K/yr. $5M. 7.25% cap.
  4. Strip Mall in Springs, TX: 10,149 SF strip center built in 2000 on .62 ac lot in affluent Houston suburbs with AHI of $117K/yr in 1 mile. 100% leased.  NOI $99K/yr. $1.275M. 7.8% cap.
  5. Office Building in Morgan Hills, CA: 27,800 SF 2-story well-kept office building on 1.37 ac lot in a well off Silicon Valley suburbs (AHI $111K/yr in 3 miles ring).  92% occupied.  $4.25M.
  6. Retail Plaza in Lancaster, CA: 62,011 SF retail center on 5.1 ac lot in Southern CA with exposure along and easy access to Hwy 14.  Shadow anchored by 75,000 SF High Desert Medical Center. 98% leased with over 20,000 SF leased to High Desert Medical.  NOI $520K/yr. $7.2M. 7.38% cap.
  7. Burger King in Portage, MI: 3983 SF restaurant on 1.25 ac lot Kalamazoo metro.  Adjacent to 770,000 SF Crossroads Mall (770k SF), Sam’s Club, Best Buy, Target, Home Depot, & Dick’s Sporting Goods. 15 yrs NNN lease with 14 yrs left.  NOI $92K/yr with 10% rent bumps every 5 yrs.  $1.533M. 6% cap.
  8. MOB in Mesa, AZ: 8800 SF 3-tenant medical office building on .71 ac lot in Phoenix metro.   Anchored by 6760 SF Hanger Prosthetics & Orthotics, a national tenant.  89% NNN leased with 1 small vacant unit.  NOI $113K/yr. $1.51M. 7.5% cap.
  9. Medical Office Building in Lincoln, NE: 6200 SF class-A 5-yrs old office building in a high growth, high income area. 100% leased to 2 medical tenants.  NOI $99K/yr. $1.325M. 7.5% cap.
  10. Shopping Center in Antioch, TN: 68,438 SF shopping center on 5.62 ac lot across from Global Mall at the Crossings in Nashville metro.  Anchored by Carmike Theatre.  92% leased.  NOI $475K/yr. $5M. 9.5% 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 from many commercial real estate companies, and various other sources.   Each property has a brief description and a flyer.  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.