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.
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