04-02: FastMed Urgent Care, Professional Centers, Neighborhood Centers, Strip Centers, Office Buildings

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  1. Neighborhood Center in Gladstone, MO: 190,006 SF attractive shopping center on over 15 ac corner lot anchored by 61,990 SF Price Chopper and 51,626 SF Hobby Lobby in Kansas City suburbs. 91% leased with good tenant mix. NOI $1.389M/yr.  Best offer.
  2. Strip Center in Palm Harbor, FL: 9056 SF strip center built in 1999 on nearly 3 ac lot with excellent visibility in upper middle class Tampa suburbs. 100% NNN leased with good tenant mix including The Vitamin Shoppe. NOI $194K/yr. $2.782M. 7% cap.
  3. Shopping Center in Dallas, TX: 75,201 SF well maintained shopping center on 3.67 ac lot in high income (AHI $84K/yr in 3 miles) area. Good tenant mix: ACE Hardware, Spec’ s Liquor, Fresh Market grocery store, PetSmart, Starbucks, Digg’ s Taco Shop, and Luke’ s Locker. NNN leased. Projected NOI $1.6M.  Best offer.
  4. FastMed in Tempe, AZ: 3700 SF well maintained Urgent Care Center built in 1997 on .69 ac lot in Phoenix suburbs. Next to I-10 exit. 10 yrs NNN lease with 2 yrs left. NOI $91K/yr. $1.2M. 7.6% cap.
  5. Professional Center in Brooklyn Park, MN: 18,428 SF Class-B multitenant medical & professional building constructed in 1998 on 2.45 ac lot in high income Minneapolis suburbs with an AHI of $89K/yr in 1 mile. Anchored by Children’ s Hospitals and Clinics of Minnesota.  88% leased. NOI/Cap N/A.
  6. Retail Center in Louisville, KY: 23,408 SF attractive retail center built in 2005 on 3.40 ac lot in growing and high income area. 100% NNN leased to Papa Murphy’s, Liberty Tax, Sola Salon Studio, Langsford Learning Center, University of Louisville Physicians, Kenney Orthopedics, and Tipton & Unroe foot and ankle care. NOI $461K/yr. $6.125M. 7.53% cap.
  7. Retail Center in Spring, TX: 20,888 SF newly renovated retail center on nearly 2 ac lot at a signalized intersection in Houston suburbs. Good demographics: 285% pop growth since 2000 and AHI of $90K/yr in 1 mile. 92% leased. NOI $224K/yr. $2.8M. 8% cap.
  8. Shopping Center in Houston, TX: 30,000 SF recently renovated shopping center on 2.43 ac lot along main corridor & in densely populated area with over 500,000 residents in a 5-mile ring. Excellent visibility.  83% leased. NOI $258K/yr. $3.225M. 8% cap.
  9. Office Building in Glen Rock, NJ: 20,000 SF Class-B office building on .45 ac lot in affluent New York metro with an AHI of $149K/yr in 1 mile. 95% leased to multiple tenants. Actual NOI $192K/yr. $2.4M. 8% cap. Upside potential when fully leased.
  10. Strip Center in Gilbert, AZ: 8616 SF attractive strip center in high growth and high income (AHI $92K/yr in 3 miles) Phoenix suburbs. Near Hwy-202. 100% NNN leased. NOI $124K/yr. $1.665M. 7.50% cap.

(c) Transmercial 2015

04-01: AutoZone, Retail Centers, Shopping Centers, Strip Centers

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Welcome new investors.  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.

 

  1. Shopping Center in Granite Bay, CA: 86,039 SF well maintained shopping center on over 10 ac lot in affluent Sacramento suburbs with an AHI of $123K/yr in 3 miles. Notable tenants include: Ace Hardware, Ripped Fitness and Dutch Bros. 67% NNN leased. Actual NOI $680K/yr. $10.295M. 6.61% cap. Upside potential when fully leased.
  2. Retail Center in West Haven, CT: 37,050 SF retail center close to I-95. NNN leased to Tutor Time Daycare, Laundry Capital Laundromat, Big Bargain C Discount Store and RVP Recording Studios. NOI $325K/yr. $3.515M. 9.25% cap.
  3. Retail Center in Mundelein, IL: 16,803 SF attractive retail center on 1½ ac lot along busy retail corridor and in high income (AHI $110K/yr in 3 miles) Chicago suburbs. 100% leased by six tenants. NOI $238K/yr. $2.8M. 8.50% cap.
  4. Strip Center in Littleton, CO: 10,000 SF strip center built in 204 on 1.40 ac lot in affluent Denver metro with an AHI of $108K/yr in 1 mile. Near Hwy-470. 100% NNN leased. NOI $208K/yr. $3.05M. 6.85% cap.
  5. Retail Center in Hendersonville, TN: 20,038 SF L-shaped newly constructed retail center in growing Nashville suburbs. Adjacent to Home Depot and close to Walmart Supercenter. 80% leased to seven tenants. Actual NOI $460K/yr. $6.345M. 7.25% actual cap. Upside potential.
  6. AutoZone in San Bernardino, CA: 10,500 SF AutoZone on 1 ac outparcel to Harbor Freight Tools. Near Inland Center Mall with easy access to I-215.  100% leased.  NOI $120K/yr. $2.275M. 5.27%cap.
  7. Retail Center in Phoenix, AZ: 18,952 SF attractive retail center in high income neighborhood with an AHI of $89K/yr in 1 mile. Property is surrounded by Walgreens,  Trader Joe’s, Safeway and Fry’s Grocery centers. 90% NNN leased. Proforma NOI $327K/yr.  $3.6M. 9.1% pro forma cap.
  8. Shopping Center in Cape Coral, FL: 16,000 SF like-new retail center on 1.6 ac lot on a major artery.  87% leased.  NOI $135K/yr. $1.875M. 7.2% cap.

 

(c) Transmercial 2015

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