03-21: Retail Centers, Office Depot, Apartments 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. Retail Center in Pittsburg, CA: 9600 SF attractive retail center shadow-anchored by fast growing Mi Pueblo grocery store. Adjacent to proposed B.A.R.T Station next to Hwy-4. 100% NNN leased by credit tenant: Panda Express, Pittsburg Employees Federal Credit Union, Cartridge World, UPS Store and Western Dental. NOI $335K/yr. $4.470M. 7.5% Cap.
2. Apartment Complex in Houston, TX: 72-units well maintained multifamily complex on 5 acres of land with spacious 2-3 bedroom apartments near Hwy-90. 94% occupied. NOI $262K/yr. $2.850M. 9.20% Cap.
3. Retail Center in Cookeville, TN: 7020 SF multi-tenant retail center shadow-anchored by Wal-Mart with great tenant mix: US Cellular, Oreck, Papa Murphy’s Pizza and Fast Signs. 100% NNN leased. NOI $ 148K/yr. $1.714M. 8.70% Cap.
4. Strip Center in South Gate, CA: 8710 SF strip center on .43 acre lot at busy corner location along main corridor near I-710 in densely populated Los Angeles area. 100% NNN leased. NOI $120K/yr. $1.5M. 8.03% Cap.
5. Retail Center in Lancaster, CA: 13,436 SF well-kept multi-tenant retail center on .39 acre lot at busy corner location. 100% leased. NOI $133K/yr. $1.990M. 6.7% Cap.
6. Shopping Center in Placerville, CA: 18,130 SF shopping center consisting of two-retail building constructed in 2006 across from Wal-Mart at highly visible location. 90% leased. NOI $455K/yr. $6.950M. 6.55% Cap.
7. Office Depot in Tyler, TX: 25,000 SF single-tenant retail building on 2.54 acres of land conveniently located across from Broadway Square Mall. 100% NNN leased. NOI $274K/yr. $3.330M. 8.25% Cap.
8. Shopping Center in Gainesville, GA: 13,400 SF shopping center constructed in 2002 on 1.64 acres of parcel in fast growing Atlanta metro. NOI $69K/yr. $900K. 7.72% Cap.

© Transmercial 2010.