03-09: Gold's Gym, Wyndham hotel, Office Depot, Lone Star Steakhouse, Garden center, Mini storage

Welcome new investors.  Each property has a brief description and a 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.  Underlined phrases if any indicate (safe) hyperlink that you can click for more info.   

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. Gold’s Gym in Monterey, CA: 21,198 SF fitness center on 1.78 acres lot in an affluent coast city (AHI $123K/yr) with extremely high barriers to entry.  Easy access to Hwy 68.  Established gym for 30 yrs.  New 15 yrs NNN absolute lease.  NOI $312K/yr with 1.25% annual rent bump. $3.67M. 8.5% cap. 
2. Wyndham Hotel in Grapevine, TX: 101-room hotel on 2 acres lot near DFW airport in high income Dallas suburbs. $4.75M. 
3. Office Depot in Greensboro, NC: 27,416 SF Office Depot built in 1994 in upper middle class (AHI $87K/yr in 1 mile) area.  100% NNN lease with over 13 yrs remaining.  NOI $328K/yr with 10% rent bump in 3.5 yrs.  $4.112M. 8% cap. 
4. Lone Star Steakhouse in Dayton, OH: 5611 SF steakhouse built in 1994 on 1.23 acres lot in commercial corridor near Dayton Mall.  Surrounded by Home Depot and Lowes, Aldi Foods, TJ Maxx, Aarons, HH Gregg, Dicks Sporting Goods, Showcase Cinemas, Ashley Furniture, Best Buy, La-Z-Boy, and Toys R Us. Applebee' s, Mr. D' s and Burger King.  15 yrs NNN lease with 11+ yrs remaining.  NOI $149K/yr with 2% annual rent bump.  $1.357M. 11% cap. 
5. Garden Center in Saratoga Springs, NY: 20,500 SF single-tenant garden center on 6 acres lot in a growing area.  100% absolute NNN lease with 14 yrs remaining.  NOI $131K/yr. $1.5M. 8.73% cap. 
6. Mini storage in Sacramento, CA: 31,420 SF mini-storage facility built in 1996 by the executive airport. 76% occupied.  NOI $192K/yr.  Price reduced from $2.7+M to $2.075M. 8.1% cap.

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