02-21: Wyndham hotel, Cancer center, Advance auto, Davita, Medical Office, shopping 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.

1.      Wyndham Hotel in Grapevine, TX: 101 unit hotel on 2 acres lot near Dallas-Fort Worth Airport with highway visibility $\Income not avail.  $3.95M.

2.      Cancer Center in El Centro, CA: 8492 SF medical office building on 1 acres lot.  100% NNN lease to Valley Oncology with 40 radiation oncology center in 13 states.  NOI $230K/yr. $2.884M. 8% cap.

3.      Medical Office building in Houston, TX: 26,988 SF class-B medical office building on 1.46 acres lot close to Houston Northwest Medical center.  90% leased.  NOI not avail.  $2.5M.   Just $92/SF.

4.      Advance Auto Parts in North Ridgeview, OH: 6000 SF AAP on 1.2 acres lot in growing middle-class Cleveland suburbs.  NNN lease till 2024.  NOI $136K/yr. $1.693M. 8.2% cap.

5.      Apartments in Katy, TX: 291-unit 10-yrs old class A 10-foot ceiling apartments on 13.3 acres in high growth (45% since 2000), high income (AHI $85K/yr) Houston suburbs.  95% occupied.  Income & Price N/A.

6.      Davita Dialysis Center in Sellersville, PA: 6370 SF dialysis center in a newly commercial condo project in middle class area North of Philadelphia.  15 yrs absolute NNN lease with Davita Corp guaranty.  NOI $272K/yr with 2% annual rent bump.  $3.625M.  7.5% cap.

7.      Shopping Center in Gurnee, IL: 19,864 SF retail center built in 1988 on 1.38 acres lot at the entrance to Six Flags near tollway 94. 100% NNN leased to 3 tenants.  NOI $313K/yr. $2.89M. 10.85% cap.

© Transmercial 2011.