Announcement: if you have signed up for the “How to invest in Commercial Real Estate” webinar, you should already receive an email today for instructions how to attend the webinar. Please advise otherwise.
Advisory: there are more foreclosed (AKA bank-owned or REO’ed) properties for sale now a day. Make sure you know the risks as described in the attached article “Buyers Guide to Navigating Foreclosure Mines Field” written by an attorney.
1. Advance Auto Parts in Fontana, CA: 7183 SF retail center built in 1996 on .72 acres outparcel to a 630,000 SF power center anchored by Target, Ross, and Kaiser Permanente in densely populated area with over 300K residents within 5 miles. 100% NNN lease till 2018. NOI $129K/yr with 10% rent bump every 5 yrs (next in 2013). $1.985M. 6.5% cap.
2. Walgreens in Kalamazoo, MI: 13,000 SF drug store on 1.44 acres hard corner lot in a stable town. 100% NNN lease with 15 yrs remaining. NOI $159K/yr. $2.128M. 7.5% cap. Note: this is one of the least expensive Walgreens on the market going for several years.
3. Medical Office Condo in Oceanside, CA: 5727 SF class-A medical office condo built in 2008 in upper middle class (AHI $95K/yr within 1 mile) San Diego suburbs. 10 yrs NNN lease to Imaging Healthcare, a regional tenant with 14 locations in southern CA. NOI $158K/yr with annual rent bump. $2.264M. 7% cap.
4. Office Building in Dallas, TX: 51,043 SF 4-story office building constructed in 1984 on 2.15 acres long I-30. 92% occupied. NOI $362K/yr. $3.45M. 10.5% cap.
5. Checker Auto Parts in Mesa, AZ: 9550 SF single-tenant center built in 1990 on 1.13 acres lot as part of a shopping center anchored by Fresh & Easy Neighborhood Market, Rent-A-Center, and Family Dollar near Loop 202 exit. Completely renovated in 2007. Tenant has been here for 20 yrs and just exercised 5-yrs option. NOI $69K/yr. $956K. 7.25% cap. Jus t$100/SF. Note: Transmercial believes this is a very stable property due to i) National tenant, ii) Low rent, iii) tenant’s business, and iv) great location.
6. Shopping Center in Los Angeles, CA: 50,861 SF 2-story shopping center built in 2007 on 1.7 acres parcel in prime retail & high income area (AHI $98K/yr) just North of LAX. Anchored by Bed Bath & Beyond (15 yrs lease), Wells Fargo, and Starbucks. 100% NNN lease. NOI $1.248M. $17.84M. 7% cap.
7. La Z Boy in Yorba Linda, CA: 18,360 SF single-tenant retail center built in 2001 on 2 acres lot as part of Savi Ranch shopping center anchored by Best Buy, Kohl’s, Michaels, Bed Bath & Beyond, and Dicks Sporting Goods in a wealthy city (AHI $137K/yr). 100% NNN corp lease till 2021. NOI $318K/yr with 3.8% rent bump in 2012. $4.54M. 7% cap.
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