01-17: Office Buildings, Jack in the Box, 7-Eleven, Apartments, Kragen Auto for sale

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.
 
AHI: Avg. Household Income.  National average is about $50+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.      Office Building in Shiloh, IL: 7975 SF office building in middle class Saint Louis suburbs with easy access to I-64.  100% NNN leased to 3 good tenants: Morgan Stanley, Sylvan Learning Center, and Carrolton Bank.  NOI $134K/yr. $1.31M. 10.25% cap.
2.      Retail Center in Bend, OR: 10,992 SF retail center on 1.92 acres lot in growing and high income city.  100% leased to 2 tenants.  NOI $152K/yr. $1.6M. 9.5% cap.
3.      Office Building in Atlanta, GA: 13,800 SF 2-story 7-unit retail/office building next to Home Depot in high income North Atlanta. 93% NNN leased.  NOI $197K/yr.  all leases have 3% annual rent bump.  $2.45M. 8% cap.
4.      Apartments in Inglewood, CA: 10-unit apartments near Centinela Medical Center in densely-populated area in Los Angeles (no rent control area). 100% occupied.  NOI $69K/yr. $949K. 7.4% cap.
5.      Jack in the Box in Mesquite, TX: 2467 SF fast food restaurant on .46 acre lot in middle class Dallas metro.  100% NNN corp lease with 10 yrs remaining.  NOI $77K/yr with 8% rent bump every 5 yrs.  $1.187M. 6.5% cap.
6.      Apartments in Fort Lauderdale, FL: 94-unit 3-story apartments on 2.67 acres lot in a wealthy area (AHI $84K/yr).  95% occupied.  NOI $576K/yr. $7.9M. 7.5% cap
7.      7 Eleven Plaza in Clifton, NJ: 3900 SF retail plaza on 1/3 acres lot in densely populated area (over 625K residents in 5 miles ring).  100% leased to 7-Eleven and another tenant.  NOI $105K/yr. $1.45M. 7.25% cap.
8.      Kragen Auto Parts in Clovis, CA: 7002 SF Kragen Auto parts (owned by O’Reilly) built in 2006 on an outparcel to a 100,000+ SF shopping center in a growing city.  15 yrs NNN lease with 10+ yrs remaining.  NOI $130K/yr with 10% rent bump every 5 yrs ($144K in Oct 2011).  $1.869M.  7% cap now and 7.7% cap in Oct 2011.

01-14: Apartments, Rite Aid, Holiday Inn, Office Buildings, Strip Center for sale

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.

AHI: Avg. Household Income.  National average is about $50+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.      Condos in Stockton, CA: 60-unit condos upper end construction built in 2003 on 3 acres lot.  95% occupied.  Gross income $360K/yr. $2.4M.

2.      Rite Aid in Ann Arbor, MI: 14,564 SF drug store on 1.77 acres in a stable city where the University of MI is located.  20 yrs NNN lease with 18 yrs remaining.  NOI $400K/yr with rare rent bump every 5 yrs.  $4.705M. 8.5% cap.

3.      Apartments in Cathedral City, CA: 20 3-BR/2BA apartments built in 1988 on 1.68 acres lot in Palm Springs.  Title roof and swimming pool.   Across from Desert Princess country club.  100% occupied.  NOI $130K/yr. $1.48M. 8.8% cap.

4.      Pizza Hut in Vancouver, WA: 2191 SF restaurant on ½ acre lot on Hwy 99 in a stable city.  10 yrs NNN leased to the largest Pizza Hut franchisee.  Store with strong sales $1.225M.  NOI $60K/yr. with 10% rent bump each 5 yrs plus potential percentage rent.  $960K.  6.25% cap.

5.      Holiday Inn Express in Bakersfield, CA: 108-unit hotel on 2 acres lot with pool, guest laundry, meeting space and free breakfast bar.  Avg occupancy of 74% at $65/unit.  NOI $574K/yr.  Price reduced from $7M to $6M. 9.58% cap.

6.      Fairmont Hotel Annex Retail in San Jose, CA: 17,501 SF retail center next to the prestigious Fairmont Hotel in downtown San Jose.  60% NNN leased to 2 tenants.  NOI $269K/yr.  sealed bid offer before Jan 31, 2011.

7.      Office Buildings in Los Gatos, CA: 2 office buildings: 5288 SF and 4074 SF on Los Gatos Blvd. near Good Samaritan hospital in wealthy Silicon Valley town (AHI $151K/yr in 1 mile). $2.115M and $1.629M.

8.      Strip Center in Oakdale, CA: 4290 SF strip center on .87 acre lot in Northern CA.  100% NNN leased to 3 national/regional tenants: Starbucks, Mr. Pickles Sandwiches, and Supercuts.  NOI $130K/yr. $1.775M. 7.25% cap.

© Transmercial 2011.

01-13: Church Chicken, Wendy's, La Petite Academy, Jack In the box, Retail center for sale

1.      Church Chicken in Los Angeles, CA: 1320 SF restaurant built in 2004 on .37 ac infill lot in densely-populated area (1.2M residents within 5 miles).  100% NNN corp lease with 17 yrs remaining.  NOI $43K/yr with 1.5% annual rent bump.  $850K.  5.15% cap.

2.      Wendy’s in Cypress, TX: 3397 SF restaurant built in 1997 on .97 ac outparcel to Kroger Supermarket in middle upper class NE Houston suburbs.  Store with strong sales of over  $1.44M.  New 20 yrs NNN lease.  NOI $112K/yr with 7% rent bump every 5 yrs. $1.425M. 7.88% cap.

3.      Shopping Center in San Mateo, CA: 13,639 SF 5-unit retail center on 1 acre lot in a wealthy city in south of San Fran (AHI $129K/yr).  86% NNN leased to 4 national tenants: Fed-Ex Kinkos, Scott Trade, Massage Envy, and Little Caesars Pizza.  Pro forma NOI $403K/yr. $4.995M. 8.07% cap.

4.      La Petite Academy in Las Vegas, NV: 7793 SF childcare center built in 1996 on .88 acres lot in area with strong demographics.  100% NNN corp lease till 2016 by La Petite Academy, a national childcare provider with over 1000 locations.  NOI $128K/yr. with CPI-based rent bump. $1.4M. 9.2% cap.

5.      Jack in the Box in San Leandro, CA: 2165 SF restaurant built in 2005 on ½ acre lot near 820,000 SF Bay Fair Mall.  20 yrs NNN lease with 18 yrs remaining to an operator with 180 restaurants.  NOI $125K/yr with 10% rent bump every 5 yrs.  $1.99M. 6.28% cap.

© Transmercial 2011.

01-12: Cash America, Pep Boys, Medical Office Buildings, Walgreens, Childtime For Sale

1.      Cash America Pawn in San Antonio, TX: 5000 SF brand new retail center on .53 ac lot.  New 10 yrs NNN corp lease to Cash America.  NOI $87K/yr with 10% rent bump every 5 yrs.  $1.164M. 7.5% cap.

2.      Pep Boys Auto in Las Vegas, NV: 18,196 SF auto parts and service center in high income area (AHI $86K/yr).  15 yrs NNN lease with 12 yrs remaining.  NOI 337K/yr.  $4.499M. 7.5% cap.

3.      Medical Office Building in Flower Mound, TX: 7235 SF medical office building constructed in 1995 in affluent Dallas suburbs (AHI $117/yr in 1 mile).  100% leased to 4 tenants.  NOI $92K/yr. $940K. 9.8% cap.

4.      Taco Bell in Kansas City, MO: 2699 SF newly-rebuilt restaurant on 2/3 acre outparcel in front of Costco and Home Depot.  20 yrs absolute NNN lease to a 40-unit operator.  NOI $150K/yr with 8% rent bump every 5 yrs.  $1.875M. 8% cap.

5.      Walgreens in Montebello, CA: 14,775 SF drug store on 1 ac lot in a densely-populated city in Los Angeles.  25 yrs NNN lease with 20 yrs remaining.  NOI $437K/yr. $6.242M. 7% cap.

6.      Medical Office Building in flower Mound, TX: 11,013 SF medical office building just North of the Flower Mound Emergency Center and Imaging Center and across the street from the new Texas Health Presbyterian Hospital. 100% leased 5 tenants. NOI $221K/yr. $2.6M. 7.9% cap.    

7.      Childtime Learning Center in Yorktown, VA: 7893 SF childcare center on 1.32 acres lot with easy access to I-64 in upper middle class area.  10 yrs NNN corp lease.  NOI $158K/yr. $1.7M. 9.31% cap.

01-11: Shopping Centers, Urgent Care center, T-Mobile, Rite Aid, Advance Auto For Sale

1.      Shopping Center in Jacksonville, FL: 68,575 SF Kohl’s anchored power center built in 2007 on 9.67 acres lot in affluent outskirts of Jacksonville (AHI $94K/yr).  96% NNN leased to 6 tenants including: Michaels, Shoes Carnival, Dollar Tree, and Petco.  Nearby retails include: Target, Wal-mart, Home Depot, Walgreens, CVS, and Winn Dixie Supermarket.  NOI $969K/yr. $11M. 8.82% cap.

2.      Shopping Center in Las Vegas, NV: 29,974 SF shopping center built in 1987 on 3.03 acres corner lot in well-off area (AHI $82K/yr in 1 mile).  100% leased to 13 tenants plus a bill board. NOI $561K/yr. Price reduced from $5.6M to $4.65M. 12.1% cap.

3.      Neighborhood Shopping Center in Lisle, IL: 40,650 SF retail center on 3.5 acres hard corner lot in affluent Chicago suburbs (AHI $103K/yr).  100% leased.  NOI $380K/yr. $4M. 9.5% cap.

4.      Urgent Care Center in Clayton, NC: 3604 SF urgent care center in Raleigh suburbs.  100% NNN leased till 2020.  NOI $79K/yr. with 3% annual rent bump. $931K.  8.5% cap.

5.      Medical Building in Port Charlotte, FL: 7134 SF 5-yrs old medical office building on 1.1 acres lot.  100% NNN leased to Panther Hollow Dental Lodge till 2020.  NOI $124K/yr with CPI-based annual rent bump. $1.425M. 8.75% cap.

6.      Shopping Center in Tucson, AZ: 37,540 SF shopping center on 4.22 acres lot in middle class area.  100% NNN leased to 2 national tenants: Michaels, and Ace Hardware.  NOI $354K/yr with rent bumps.  $4.435M. 8% cap.

7.      T-Mobile in Austin, TX: 2761 SF Retail building on .6 acre outparcel.  New 7 yrs NNN- corp lease.  NOI $91K/yr with 10% rent bump every 5 yrs.  $1.175M. 7.75% cap.

8.      Rite Aid in Roseville, CA: 17,700 SF drug store on 2 acres lot in middle class Sacramento metro.  100% NNN corp lease till 2026.  NOI $476K/yr. $5.96M. 8% cap.

9.      Advance Auto Parts in Brownsville, TX: 7000 SF Advance Auto built in 2004 on 2/3 ac lot.  15 yrs NNN- with 9 yrs remaining.  NOI $86K/yr. $1.041M. 8.25% cap.

© Transmercial 2011.

01-10: LA Fitness, Shopping centers, DaVita Dialysis, Goddard Schools, AutoZone for sale

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.

AHI: Avg. Household Income.  National average is about $50+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.      LA Fitness Center in Arlington, TX: 45,044 SF trophy fitness center built in 2007 on 4.65 acres lot with I-30 visibility. 15 yrs NNN corp lease with 11 yrs remaining.  NOI $697K/yr with CPI-based rent bump every 5 yrs.  $7.75M. 9% cap.

2.      Shopping Plaza in Orlando, FL: 52,381 SF shopping plaza on a hard signalized corner  in high income area.  Anchored by Winn-Dixie Supermarket with strong store sales of almost $300/SF.  Renovated in 2008-2009.  80% leased.  Current NOI $373K/yr. $4.75M. 7.85% cap.  Upside potential when fully leased.

3.      DaVita Dialysis Center in Yuma, AZ: 7600 SF dialysis center built in 2009 on .91 ac lot.  10 yrs NNN corp lease with 9 yrs remaining.  NOI $165K/yr. with 2% annual rent bump. $2.074M. 8% cap.

4.      Goddard School in McKinney, TX: 8068 SF childcare center built in 2009 on 1.44 acres lot in a fast growing (235% between 2000-2009) affluent community (AHI $113K/yr in 3 miles) in Dallas Northern suburbs.  15 yrs NNN- lease.  NOI $220K/yr. $2.316M. 9.5% cap.

5.      Shopping Center in Fresno, CA: 87,850 SF established shopping center on 8.61 acres corner lot.  Anchored by 99-Cents Store and dd’s Discounts (owned by Ross).  100% leased.  NOI $624K/yr. $7.35M. 8.5% cap.

6.      Shopping Center in Burlington, NC: 30,772 SF shopping center on 2.5 acres lot in a stable city.  Anchored by 24,772 SF Dollar Tree store.  100% leased to 4 tenants plus bank ATM.  NOI $185K/yr. $1.99M. 9.3% cap.

7.      Shopping Center in Burlington, NC: 42,500 SF mature shopping center on 3.5 acres lot.  Anchored by Maxway, Family Dollar, AutoZone.  100% leased to 4 tenants.  NOI $118K/yr. $1.29M. 9.14% cap.

8.      Shopping Center in Pearland, TX: 9000 SF retail center built in 1999 on 1 acre lot in growing middle-class Houston metro.  100% leased to 3 tenants: Sherwin William Paint, Donut/sandwich shop and a medical tenant.  NOI $126K/yr. $1.4M. 9% cap.

9.      Apartments in Oakland, CA: 12-unit apartments on 1/3 ac lot.  92% occupied.  NOI $91K/yr. $844K. 10.8% cap.

10.   AutoZone in Conyers, GA: 7380 SF auto part store built in 2006 on 1.27 acres lot in commercial corridor in high income, high growth Atlanta suburbs.  20 yrs NNN- lease.  NOI $121K/yr. $1.675M. 7.25% cap.

© Transmercial 2010.

01-07: Burger King, Advance Auto, Strip Centers, REO Apartments For Sale

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.

AHI: Avg. Household Income.  National average is about $50+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.      Burger King in Phoenix, AZ: 3600 SF fast food restaurant on .8 acre lot.  Shadow anchored by Walgreens and Albertson’s supermarket.  100% absolute NNN leased to a multi-unit operator.  NOI $90K/yr. with 5% rent bump every 5 yrs.  $1.2M. 7.5% cap.

2.      Retail Center in Los Angeles, CA: 2090 SF 2-unit retail strip in an affluent area near Beverly Hills (AHI $134K/yr).  100% NNN lease to Subway, and Yogo Frozen Yogurt.  NOI $107K/yr. $1.385M. 7.76% cap.

3.      Burger King in Avondale, AZ: 3300 SF restaurant on .87 ac lot in Phoenix metro.  100% NNN leased to a multi-unit operator.  NOI $80K/yr. with 3% rent bump every 3 yrs.  $1.066M. 7.5% cap.

4.      REO Apartments in Austin, TX: 325-unit garden-style 2-story apartments on over 16 acres lot.  Amenities include two sparking swimming pools, a fitness center, four onsite laundry facilities and a playground area.  Pro forma NOI $781K/yr. $10.4M. 7.51% cap.

5.      Retail Center in Los Angeles, CA: 9929 SF upscale retail center adjacent to University of Southern CA in densely populated area (over 1.3M residents within 5 miles).  100% NNN leased to 6 tenants.  NOI $373K/yr. $5.33M. 7% cap.

6.      Advance Auto Parts in Elizabeth, NJ: 7000 SF auto parts store built in 2007 in middle class area 45 minutes from NY city. 100% NNN- lease.  NOI $257K/yr. $3.214M. 8% cap.

7.      Business Center in Suwanee, GA: 6175 SF free-standing building on .79 acre lot in affluent Atlanta suburbs (AHI $99K/yr). 90% leased.  NOI not avail.  Just $796K.

8.      Strip Center in Carmichael, CA: 8500 SF 7-unit strip center on ¾ ac lot in upper middle class Sacramento metro.  NOI $120K/yr. $1.499M. 8% cap.

9.      Shopping Plaza  in Dallas, TX: 16,000 SF well-maintained multi-tenant shopping plaza on 1.28 acres lot.  87% leased to 7 tenants.  NOI $164K/yr. $1.65M. 9.97% cap.

01-06: Shopping Centers, Medical Office building, Pep Boy For sale

1.      Shopping Center in Lincoln, CA: 40,477 SF 3 yrs old shopping center on 3.5 acres lot in booming middle class Sacramento suburbs.  100% NNN leased to 2 national tenants: Staples and Pets mart with 7 yrs remaining.  NOI $713K/yr. $10.186M. 7% cap.

2.      Medical Office Building in San Bernardino, CA: 15,049 SF single-tenant surgery and MRI center on 1.37 acres lot with easy access to I-10, and I-210.  Seller will lease back the property at close of escrow.  $4.89M.

3.      Pep Boys in Albuquerque, NM: 17,925 SF auto parts and service center on a major artery.  15 yrs NNN lease.  NOI $198K/yr. $2.647M. 7.5% cap.

4.      Retail Center in Anaheim, CA: 8100 SF multi-tenant retail center on .92 ac lot with easy access to I-5.  100% leased.  NOI $160K/yr. $2.195M. 7.3% cap.

5.      Strip Mall in Federal Way, WA: 8667 SF strip center on ½ ac lot in Seattle metro.  100% leased.  NOI $175K/yr. $2.35M. 7.48% cap.

6.      Shopping Center in Powell, OH: 8198 SF shopping center built in 2003 in wealthy Columbus suburbs (AHI $139K/yr in 1 mile).  100% NNN leased.  NOI not avail.  $1.35M.

01-05: Strip center, Stables, Family Dollar, Apartments, Meineke For sale

1.      Bank-owned Shopping Strip in Morrow, GA: 24,178  SF strip center built in 2000 on 2.21 acres lot in Atlanta suburbs. Anchored by 15,470 SF Social Security Admin.  85% leased.  Current NOI $257K/yr. $1.525M. 16.88% cap.

2.      Office Building in Jonesboro, GA: 20,340 SF multi-unit office building completed in 2002 on 3.8 acres lot in Atlanta suburbs.  60% occupied.  Current NOI $137K/yr. $1.425M. 9.64% cap.

3.      Staples in Auburn, CA: 23,170 SF single-tenant retail center on 1.5 acres lot in middle class Sacramento suburbs.  Next to Sears and across from Rite Aid with easy access to I-80. 100% NNN corp lease till 2017.  NOI $268K/yr. $3.527M. 7.6% cap.

4.      Family Dollar in Houston, TX: 8324 SF Family Dollar store under construction on 1 ac lot in good NW of Houston.  New 10 yrs NNN- lease.  NOI $88K/yr. $1.075M. 8.24% cap.  Recession insensitive tenant.

5.      Shopping Center in Greenville, SC: 31,000 SF established and well-maintained shopping center on 2.45 acres corner lot across from TJ Maxx in middle class area.  Anchored by 8630 SF Outback Steakhouse and 5000 SF Dollar Mart. 88% NNN leased to 10 good tenants with 2 available units.  Pro forma NOI $320K/yr. $3.4M. 9.42% cap.

6.      REO Apartments in Austin, TX: 54-unit apartments on 2.35 acres lot with gated swimming pool, a management/leasing office and an on-site clothes care facility.  $1.3M.

7.      Vacant Supermarket in Antioch, CA: 31,795 SF vacant recently built supermarket just off of Hwy 4 in a high income San Fran East Bay suburbs (AHI $88K/yr in 1 mile). $3M.

8.      Lone Star Steakhouse in Hodgkins, IL: 5055 SF restaurant built in 1997 on an outparcel to a 443,000 SF Power center anchored by Target, Wal-mart, Sam’s Club, Kohl’s, and Office Max in Chicago suburbs.  100% NNN corp lease to Lone Star Steakhouse with 110 units till 2022.  NOI $207K/yr with 2% annual rent bump.  $2.178M. 9.5% cap.

9.      Apartments in Van Nuys, CA: 22-unit apartments in a quiet middle class area in Los Angeles. 100% occupied with waiting list.  NOI $114K/yr. $1.495M. 7.67% cap.

10.   Meineke Car care Center in Sacramento, CA: 3200 SF Meineke on .35 ac lot in middle class area.  Tenant has been here since 1991.  100% NNN corp lease with 6 yrs remaining.  NOI $73K/yr. $825K.  8.9% cap.

01-04: El Torito, Rite Aid, Wendy's, Medical office buildings, Comfort Suites for sale

1.      El Torito in Fresno, CA: 7790 SF restaurant on .95 acre lot.  100% NNN corp lease with 8 yrs remaining.   Store with strong sales of over $1.66M/yr.  NOI $126K/yr. $2.1M. 6% cap.

2.      Office Building in West Sacramento, CA: 66,200 SF office building on 4.3 acres lot.  100% NNN lease to Test America Labs, a leading company in environment testing (including shale, oil and gas exploration). 100% NNN lease with 16 yrs remaining.  NOI $887K/yr. with annual rent bump.  $11.095M. 8% cap.

3.      Rite Aid in Jewett City, CT: 20,954 SF drug store.  New 20 yrs NNN lease.  NOI $268K/yr with 10% rent bump every 10 yrs.  $3.085M. 8.7% cap.

4.      Medical Office Building in Arlington Heights, IL: 18,154 SF medical office building developed in 1991 on 1.38 acres lot in affluent Chicago suburbs (AHI $95K/yr).  100% NNN leased.  NOI $412K/yr. $4.25M. 9.7% cap.

5.      Wendy’s in Clermont, FL: 3045 SF restaurant on 2/3 ac parcel near the intersection of Hwy 27 & Hwy 50 in Orlando suburbs.  New 20 yrs NNN lease.  NOI $106K/yr with 8% rent bump every 5 yrs.  $1.332M. 8% cap.

6.      Comfort Suites in San Jose, CA: 31,000 SF/51 suites full-serviced hotel built in 2001 on First Street.  NOI not avail.  $4.35M.

7.      Medical Office Building in West Covina, CA: 25,836 SF class-A medical office building rehabbed in 2006.  Near Westfield West Covina Mall and Easy access to I-10.  100% NNN leased till 2026 to a tenant with $70M in net worth.  NOI $785K/yr with 3% annual rent bump starting in 2012.  $10M.  7.85% cap.

© 2010 Transmercial.

01-03: Arbys, DaVita Dialysis, Medical Building, Apartments, Retail center for sale

AHI: Avg. Household Income.  National average is about $50+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.

2011 Market Outlook: Transmercial expects the commercial real estate market to be stronger in 2011 than 2010.  This is a result of various factors: improved economy, lower employment, recent renewal of low capital gain taxes, more positive consumer confidence, stronger retail sales, and improving credit market.  This means the cap rate will go down further, e.g. cap rate will be in the 6%-6.5% for new Walgreens.  There will be more multiple offers for properties at good locations.

1.      Arby’s in Indianapolis, IN: 3382 SF fast food restaurant in fast growing middle-class area in South Indianapolis near I-65.  Close to Target, Kohl’s, Meijer supermarket. 20 yrs absolute NNN lease with 9 yrs remaining.  NOI $135K/yr. $1.693M. 8% cap.

2.      Carbone’s Pizzaria in Rosemount, WI: 5461 SF pizza restaurant on .73 acre lot in high growth, high income Saint Paul suburbs.  10 yrs NNN lease to Carbone’s with 37 locations.  NOI $98K/yr with 2% annual rent bump. $970K. 10% cap.

3.      Davita Dialysis Center in Lake Wales, FL: 4152 SF dialysis center built in 1996 on .4 acre lot close to Lake Wales Medical Center.  100% NNN corp lease with 9 yrs remaining.  NOI $68K/yr. Just $800K. 8.49% cap.

4.      Medical building in Watsonville, CA: 4332 SF class-A 5 yrs old medical office building on 1/3 ac corner lot in middle-class town.  100% leased to 2 medical tenants.  NOI $113K/yr.  $1.465M. 7.75% cap.

5.      Apartments in Warner Robins, GA: 32-unit 2&3 BR apartments on 3.5 acres lot renovated in 2008.  NOI $96K/yr.  $1.065M. 9% cap.

6.      Retail center in Knoxville, TX: 9800 SF retail center on a corner lot in middle-class area.  100% NNN leased to 7 good national & local tenants.  NOI $150K/yr. $1.668M. 9% cap.

© Transmercial 2011.

12-30: Shopping Centers for sale

It’s a boy!

For those who know my assistant Maria, she just gave birth to a baby boy at 6:20AM today. 

Name: Obadiah Martinez.  It’s biblical name.

Weight: 7 lbs 9 oz

Length: 20 inches

Mom, dad, baby all are doing fine.

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.

AHI: Avg. Household Income.  National average is about $50+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 Cumming, GA: 14,837 SF shopping center built in 2008 on 1.3 acres lot high affluent Atlanta suburbs.  Anchored by Sears Hardware store.  Across from Kohl’s, Target and Ross.  33% NNN leased with 7 small vacant units. NOI not avai.  Just $1.1M.  Just $74/Sf.  Strong upside potential when fully leased.

2.      Shopping Center in Appleton, WI: 29,000 SF shopping center on 1.71 acres corner lot.  Anchored by Dollar General.  90% leased.  NOI 99K/yr.  Just $1M.  9.9% cap.

12-29: Walgreens, CVS, Retail center, Office building for sale

1.      Walgreens in Louisville, KY: 10,578 SF drug store on a corner lot.  100% NNN lease with 20 yrs remaining.  NOI $77K/yr.  $1.185M. 6.5% cap.  Note: this is the least expensive Walgreens Transmercial is aware of.  The price is primarily based on net income.

2.      Retail center in Sacramento, CA: 26,720 SF retail center with easy access to Hwy 50.  Remodeled in 2006 with new roof, HVAC, electrical, & plumbing. 100% leased to 3 tenants: Kelly Moore Paints, A&A Appliances, A&A Lighting.  NOI $275K/yr. $3M. 9.17% cap.

3.      Walgreens in Avondale, PA: 12,000 SF drug store built in 2003 on 2.7 acres corner lot in affluent Philadelphia suburbs.  15 yrs NNN- lease with 8 yrs remaining.  NOI $213K/yr. $2.558M. 8.35% cap.

4.      CVS in Baltimore, MD: 12,608 SF drug store built in 1998 on .91 ac corner lot in a busy artery in densely-populated area.  100% NNN lease with 8 yrs remaining.  NOI $235K/yr. (increased to $249K in 2013).  $2.85M. 8.25% cap.

5.      Shopping Center in Morrisville, PA: 68,179 SF 17-unit shopping center on 8.5 acres corner lot in upper middle class Philadelphia suburbs.  Anchored by 28,000 SF Sears Appliances and Hardware.  Shadow anchored by Giant Supermarket.  88% leased.  NOI $590K/yr. $5.9M. 10% cap.

6.      Shopping Center in Wynantskill, NY: 22,800 SF shopping center anchored by Family Dollar store with a new 10 yrs lease.  NOI $212K/yr. $2.5M. 8.5% cap.

7.      Walgreens in Orlando, FL: 15,930 SF drug store built in 1996 on 1.4 acres corner lot.  100% NNN lease.  NOI $273K/yr. $3.643M. 7.5% cap.

8.      Single Retail Center in  San Dimas, CA: 15,120 SF single-tenant retail center as part of a larger neighborhood center in a middle class area.  100% leased to Pacific Kitchen & Bath, a regional tenant with 41 locations in 3 states.  100% NNN lease with very low rent of $.55/SF.  NOI $95K/yr. $1.483M.  6% cap. Just over $100/SF.  Upside potential as tenant has option at (believed to be higher) fair market rent.

9.      Office Building in Houston, TX: 23,065 SF 2-story office building on a major road in upper middle class area.  94% leased by 13 tenants.  NOI $161K/yr. $1.78M. 9.04% cap.

© Transmercial 2010. 

12-28: Rite Aid, Office Building, DaVita Dialysis, CVS Pharmacy for sale

AHI: Avg. Household Income.  National average is about $50K/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. Rite Aid Pharmacy in Douglasville, GA: 11,275 SF newly-constructed single-story retail building along Hwy-5 in fast growing Atlanta metro. Store with very strong sales of over $900/SF which means highly profitable location and landlord highly likely to receive the rent checks.  New 20-year absolute NNN corp lease with scheduled 10% increases. $2.950M. 8.65% Cap.
2. Office Building in Corona, CA: 7415 SF Class-B two-story multi-tenant office building constructed in 2008 on .48 acre lot close to I-91/15. 89% leased by seven tenants. NOI $107K/yr. $1.295M. 8.28% Cap.
3. DaVita Dialysis Center in Manteca, CA: 7168 SF DaVita Dialysis Center conveniently located across from Kaiser Permanente Manteca Medical Center. 100% NNN corp lease with 7-years remaining on original lease. 3% annual rent increases. NOI $196K/yr.  $2.91M.  6.75% Cap.
4. Shopping Center in Gainesville, FL: 13,129 SF L-shaped shopping center built in 2006 on over 2 acres of parcel with good tenant mix: Chipotle Mexican Grill, Bento Café, Pita Pit, Sprint, Pazzo Bistro and Mochi Frozen Yogurt across from Miacle Mile Butler Plaza near I-75. 100% NNN leased. NOI $359K/yr. $4.4M. 8.20% Cap.
5. Office Building in Houston, TX: 23,065 SF well-kept Class-C multi-tenant office building on .88 acre lot. 94% leased by 13 tenants. NOI $160K/yr. $1.780M. 9.04% Cap. Upside potential when fully leased.
6. CVS Pharmacy in Daytona Beach, FL: 10,981 SF CVS Pharmacy built in 1998 on 1.61 acres of land located at corner busy intersection. 100% NNN corp lease. NOI $292K/yr. $3.542M. 8.25% Cap.        

© Transmercial 2010.  All rights reserved.

12-27: Shopping Center, CVS, Apartments for sale

1.      Shopping center in Jacksonville, FL: 68,575 SF 3-yrs old shopping center in an area with excellent demographics: high growth (68% since 2000) and high income (AHI $94K/yr).  Shadow anchored by Kohl’s.  97% NNN leased by national credit tenants.  NOI $969K/yr. $11M. 8.82% cap.

2.      CVS Pharmacy in Daytona Beach, FL: 10,981 SF drug store built in 1998 at an intersection of 2 major arteries.  100% NNN lease with 8 yrs remaining.  NOI $292K/yr. $3.542M. 8.25% cap.

3.      Shopping Center in Owensboro, KY: 62,924 SF shopping center anchored by Sav-A-Lot Grocery.  Shadow anchored by K-mart. NOI $315K/yr.  $3.15M. 10% cap.

4.      Apartments in Hanover Park, IL: 24-unit apartments in middle class Chicago suburbs.  95% occupied.  NOI $132K/yr. $1.55M. 9% cap.  Seller will finance with 15% down at 5.5% interest.

© Transmercial 2010.  All rights reserved.

12-23: Walgreens, Shopping Centers, Fresenius, Taco Bell for sale

1.      Walgreens in Kennesaw, GA: 13,600 SF drug store built in 2004 on 1.5 acres corner lot in wealthy Atlanta suburbs (AHI $111K/yr in 1 mile).  100% NNN leased till 2029.  NOI $314K/yr.  $4.55M.  6.9% cap.  Buyer to assume $3.51M non-recourse loan at 5.68% fixed rate till 2017.

2.      Shopping center in Orlando, FL: 50,200 SF 1-yr old shopping center on 5.4 acres lot in a fast growing area.  Anchored by 30,000 SF Gregg Appliances (NYSE: HGG), a regional appliance & electronics retailer with 139 stores in 15 states.  Shadow anchored by Wal-mart and Sam’s Club.  72% leased.  NOI $794K/yr.  $9.35M. 8.5% cap.

3.      Retail Center in Duluth, GA: 18,820 SF retail center built in 2004 on 1.8 acres corner lot next to I-85 exit.  High income North East Atlanta suburbs.  100% NNN leased to 10 tenants.  NOI $277K/yr.  $2.766M. 10% cap.

4.      Fresenius Dialysis Center in Chicago, IL: 7540 SF dialysis center built in 2009 on .42 acre lot in densely-populated area.  100% NNN- corp lease with 8 yrs remaining.  NOI $174K/yr. $2.411M. 7.25% cap.

5.      Taco Bell in Fort Pierce, FL: 2163 SF restaurant built in 1990 on .9 acre.  20 yrs NNN lease with 15 yrs remaining.  NOI $126K/yr. with 8% rent bump every 5 yrs.  $1.535M.  8.25% cap.

6.      Strip Center in Las Vegas, NV: 6000 SF strip center on .96 acre lot on busy Las Vegas Blvd.  75% leased.  NOI $89K/yr. $999K.  8% cap.

12-22: CVS, Jiffy Lube, Office Depot, Walgreens, Davita, Rite Aid For sale

1.      CVS in Roanoke, VA: 10,125 SF drug store on 1.19 acres corner lot.  100% NNN- till 2018. Store with strong sales of $6.789M, i.e. highly profitable and highly likely to renew lease.  NOI $231K/yr ($250K in 2013). $2.81M. 8.25% cap.

2.      Jiffy Lube in Florissant, MO: 2800 SF Jiffy Lube on .56 acre corner lot in St Louis suburbs.  $140,000 renovation in 2009. 100% NNN lease.  NOI 74K/yr with 1.25% annual rent bump. $873K. 8.5% cap.

3.      Office Depot in Madison, MS: 20,000 single-tenant retail center on 4.13 acres pad in front of Lowe’s and across from Wal-mart supercenter in affluent & growing Jackson suburbs.  Right off of I-55 exit. 100% NNN leased till 2020.  NOI $207K/yr.$2.3M. 10% cap.

4.      Walgreens in Saint Johns, FL: 14,560 SF drug store developed in 2004 at an intersection in affluent Jacksonville suburbs.  100% NNN lease.  NOI $382K/yr. $5.55M. 6.9% cap.

5.      Single-tenant Office Building in Carrollton, TX: 68,699 SF 2-story class-B office building on 6.87 acres lot in high income Dallas suburbs.  8 yrs lease to Certified Payment Processing, a leading payment processing company with over $3B in transactions.  NOI $551K/yr. generous $68K rent bump every 2 yrs (over 10%!).  $6.3M. 8.75% cap.

6.      Rite Aid in Raleigh, NC: 11,529 SF drug store on 2.73 acres corner lot in high growth, high income area.  New 15 yrs NNN lease.  NOI $261K/yr.  $2.905M. 9% cap.

7.      Davita Dialysis in Kenner, LA: 6000 SF dialysis center built in 2002 on 1 acre lot in the high income area North of New Orleans International Airport. 100% NNN lease with 5 yrs remaining.  NOI $119K/yr with 3% annual rent bump. $1.35M. 8.87% cap.

8.      Shopping Center in Houston, TX: 44,738 SF shopping center on 5.72 acres lot just off of I-45 and across from 1.5M SF Greenspoint Mall.  92% leased to 15 tenants with 2 small vacant units.  NOI $535K/yr. $6.3M. 8.5% cap.

© Transmercial.  All rights reserved. 

12-21: Strip Center, Tuffy Auto, Shopping Centers for sale

AHI: Avg. Household Income.  National average is about $50K/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. Strip Center in Anaheim, CA: 4532 SF mature multi-tenant strip center along busy retail corridor with excellent visibility in densely populated city in Orange county. Easy access to I-5 and Fwy 91. 100% NNN leased by four established local tenants. NOI $71K/yr. $1.1M. 6.48% Cap.
2. Tuffy & Sprint Retail Building in Altoona, IA: 5220 retail center built in 2005 on 1.09 acres corner lot in middle-class Des Moines. Across from Wal-Mart & Lowe’s. 100% NNN leased by national tenants. NO $117K/yr. $1.446M. 8.10% Cap.
3. Shopping Center in City of Industry, CA: 20,174 SF shopping center built in 2009 on 2.52 acres lot next to Puente Hills Mall in stable & high income area.  92% NNN leased to Chipotle (950+ Locations), Panera Bread (1,400+ Locations), Jamba Juice (740+ Locations), Vitamin Shoppe (400+ Locations), Wing Stop (600+ Locations), & T Mobile.  NOI $942K/yr.  $13.47M. 7% cap.
4. Shopping Center in Spring, TX: 12,600 SF recently constructed shopping center with excellent visibility to I-45 in fast growing middle-class Houston metro. 100% leased. NOI $262K/yr. $3.075M. 8.55% Cap.
5. Neighborhood Center in Houston, TX: 17,400 SF well-maintained neighborhood center built in 2003-2007 with I-45 frontage in high growth & high income Houston suburbs. 100% NNN leased to 8 tenants. NOI $247K/yr. $2.5M. 9.91% Cap.
6. Shopping Center in Lacey, WA: 23,145 SF shopping center consisting of three building in growing (28.06%) middle-class (AHI $70K/yr) city just South West of Tacoma. 94% leased. NOI $408K/yr. $4.990M. 8.20% Cap.  

© Transmercial 2010.  All rights reserved.

10-17: Cash America, Family Dollar, Rite Aid, Best Buy For Sale

1.      Single-tenant Retail in San Antonio, TX: 5000 SF single tenant retail center on .53 ac lot to be completed in 2/2011.  10 yrs NNN lease to Cash America. NOI $87K/yr. $1.164M. 7.5% cap.

2.      Family Dollar in Philadelphia, PA: 9500 SF Family Dollar store in a densely-populated area with 800K residents in 5 miles ring. 10 yrs NN lease with 5 yrs remaining.  NOI $75K/yr. $795K. 9.5% cap.  Recession resistant tenant.

3.      REO Office Building in Indianapolis, IN: 31,055 SF modern class-A office building on a major artery close to I-465 in high income area.  Short distance to 130-store Castleton Square Mall, the largest mall in Indiana.  72% leased.  Current NOI $214K/yr.  $3M.  7.12% cap. Less than $100/SF!  Strong upside potential.

4.      Office Building in Sunrise, FL: 9180 SF class-A office building in a wealthy For Lauderdale metro.  100% leased to a national tenant.  NOI $148K/yr. $1.65M. 9% cap.

5.      Rite Aid in Methuen, MA: 13,227 SF drug store on 2.63 acre just off the Fwy.  High income (AHI $81K/yr) Boston suburbs.  Store with strong sales of over $8.25M, i.e. very profitable.  New 20 yrs NNN lease.  NOI $324K/yr with 10% rent bump every 10 yrs. $3.797M. 8.55% cap.

6.      Strip Center in Lakewood, CO: 10,200 SF strip mall built in 2006 on 1.93 acres lot at the signalized intersection in Denver metro. Strong retail trade area with Super WalMart, PetsMart, Whole Foods, King Soopers, Dick' s Sporting Goods, Target and Nordstrom Rack.  100% NNN leased to 4 good national/regional tenants: FedEx Office, Pizza Hut, Quizno's and Brothers BBQ.  NOI $224K/yr. Price reduced from $2.99M to $2.75M. 8.25% cap.

7.      Best Buy in Roanoke, VA: 45,000 SF big box retail center next to 800,000 SF Valley View Mall.  20 yrs NNN corp lease with 10 yrs remaining.  NOI $519K/yr. $6.487M. 8% cap.  Buyer to assume non-recourse loan.

© Transmercial 2010.  All rights reserved.

12-16: Rite Aid Pharmacy; Texaco Xpress Lube; Dollar General, Med building For Sale

AHI: Avg. Household Income.  National average is about $50K/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. Rite Aid in Alpharetta, GA: 10,908 SF Rite Aid Pharmacy on 1.38 acres of land outparcel to Lowe’s at a signalized intersection in growing & wealthy North Atlanta metro. 100% absolute NNN lease till 2019. NOI $217K/yr. $2.350M. 9.25% Cap.
2. Texaco Xpress Lube in Tampa, FL: 1633 SF single-tenant retail building shadow-anchored by Big Lots along Hwy-587. 100% absolute NNN lease till 2020. NOI $60K/yr. $800K. 7.5% Cap.
3. Retail Center in Northglenn, CO: 7048 SF retail center with excellent visibility along main corridor in middle class (AHI $71K/yr within 1-mile radius) Denver metro. 100% NNN leased by two tenants: MedExpress Urgent Care and Dazbog Coffee. NOI $172K/yr. $2.150M. 8% Cap.
4. Ambulatory Surgical Center in Casa Grande, AZ: 6,000 SF free-standing medical office constructed in 2002 adjacent to Casa Grande Regional Medical Center in growing area just South of Phoenix at intersection of I-8/I-10. Long NNN lease till 2022. NOI $204K/yr. $2.4M. 8.5% Cap.
5. Rite Aid in Sumter, SC: 12,728 SF Rite Aid with double drive-thru outparcel to Piggly Wiggly anchored shopping center at active intersection approximately 45-miles from Columbia. Location with high store sales. 100% NNN corp lease till 2021. $2.950M. 10.48% Cap. Assumable financing in place: buyer to assume $2.250M loan at 6.20% interest rate.  
6. Texas Land & Cattle Steak House in Killeen, TX: 7470 SF steakhouse built in 2006 on 2 acres of land. 15 years NNN lease with 12-years remaining. NOI $287K/yr with 2% annual rent increases. $2.803M. 10.25% Cap.
7. Applebee’s Restaurant in Lees Summit, MO: 4,560 SF recently remodeled single-tenant restaurant on 1.22 acres at hard corner location in growing middle-class Kansas City metro.  100% NNN corp lease till 2028. NOI $136K/yr. $1.610M. 8.5% Cap.
8. Dollar General in Garland, TX: 9,014 SF single-tenant retail building constructed in 2006 on 1.20 acres of land with excellent visibility along main thoroughfare. 100% NN corp lease with 6-years remaining. NOI $59K/yr. $725K. 8.20% Cap.
9. Medical Building in West Jordan, UT: 12,305 SF attractive Class-B multi-tenant medial building close to Hwy-154 in fast growing Salt Lake City metro. .  Excellent tenant mix. 100% leased. NOI $197K/yr. $2.327M. 8.5% Cap.
10. Office Building in Stockton, CA: 12,003 SF recently constructed beautiful office building located at corner location. 100% leased by strong tenant mix. NOI $217K/yr. $2.997M. 7.25% Cap.

© Transmercial 2010.  All rights reserved.

12-15: Shopping Center, Goodyear Tire, Multifamily, Red Robin For Sale

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.

AHI: Avg. Household Income.  National average is about $50K/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 Henderson, NV: 34,707 SF shopping center consisting of five separate building with excellent tenant mix located at signalized high-traffic corner location in Las Vegas metro.  60% leased. Current NOI $349K/yr. $3.850M. 9.10% Actual Cap. Upside potential when fully leased.
2. Strip Center in Duluth, GA: 14,975 SF upscale multi-tenant strip center constructed in 2003 with local/national tenants: Moe’s Southwest Grille, Quizno’s, SportClips and State Farms in fast growing & affluent Atlanta metro (AHI $132K/yr in 1 mile). Across from Arena at Gwinnett Center.  100% leased. $3.270M.
3. Goodyear Tire in Ellisville, MO: 6232 SF single-tenant retail building outparcel to Home Depot along dominant retail corridor in affluent (AHI $125K/yr within 5-mile radius) St. Louis suburbs. Long NNN lease. NOI $75K/yr. $1.030M. 8.85% Cap.
4. Multifamily Buildings in Dallas, TX: 30-units well-maintained multifamily buildings surrounded by newer residential development with recent renovations totaling over $200K. 90% leased. NOI $128K/yr. $1.3M. 10% Proforma Cap.
5. Red Robin Restaurant in Kent, WA: 7541 SF beautifully maintained free-standing retail building constructed in 1993 on 2.13 acres of land in growing northeast of Tacoma. 100% NNN rare corp leased. NOI $174K/yr. $3.835M. 8.5% Cap.
6. Strip Center in Santa Ana, CA: 8395 SF well-maintained strip center on .62 acre lot at signalized hard corner location with excellent tenant mix. 100% NNN leased to 5 tenants. NOI $270K/yr. $3.533M. 7.65% Cap.
7. Retail Center in Houston, TX: 7630 SF retail center on .69 acre pad with excellent visibility in fast growing area. $1.750M. 8.5% Cap.

© Transmercial 2010.  All rights reserved.