Wednesday, May 4, 2011

4-20: Romano's Macaroni Grill, Spectrum Health, Wendy's, Medical Building for sale


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. Shopping Center in Doral, FL: 57,556 SF shopping center built in 2002 on 5.31 ac lot in fast growing Miami suburbs. 94% NNN leased to long term tenants. NOI $1.3M. $15.5M. 8.39% Cap.

  1. Shopping Center in Kentwood, MI: 31,002 SF shopping center on 3.97 ac lot shadow-anchored by Horrocks Farm Market in stable Grand Rapids metro. 76% leased to great tenant mix: Family Dollar, Asian Market, Laundromat and more. NOI $162K/yr. $1.551M. 10.50% Current Cap. Upside Potential.

  1. Romano’s Macaroni Grill in Hoffman Estates, IL: 8458 SF restaurant constructed in 1996 close to Alexian Brothers Medical Center in affluent (AHI $97K/yr.) Chicago suburbs off of I-72. Store with strong $2.3M in annual sales. 17½-yrs remaining on original absolute NNN corp. lease.  NOI $170K/yr. with 2% annual rent bump.  $2.345M. 7.25% Cap.  

  1. Spectrum Health in Grand Rapids, MI: 15,360 SF medical office bldg constructed in 1999 on 3.56 ac lot along main corridor. 100% leased to Spectrum Health, a top 10 health system tenant with Aaa Moody credit rating. Absolute NNN lease till 2019 with annual CPI rent bumps. NOI $317K/yr. $3.904M. 8.12% Cap.

  1. Neighborhood Center in Redding, CA: 102,375 SF shopping center anchored by Rite Aid and Sav-More Foods at highly visible location off of I-273 about 90 minutes  North of Sacramento. 87% leased. NOI $1.024M. $13.25M. 7.7% actual cap. Upside potential when fully leased.

  1. Retail Center in Leander, TX: 9600 SF retail center built in 2006 on 1.5 ac lot in fast growing (390.55%) Austin suburbs. 100% NNN leased. NOI $158K/yr. $1.750M. 9.05% Cap.

  1. Wendy’s in Clermont, FL: 3048 SF fast food restaurant built in 1985 at the intersection of hwy 50 & Hwy 27 West of Orlando. New 20-yrs NNN lease with 8% rent increases every 5 yrs. NOI $107K/yr. $1.307M. 8.19% Cap.

  1. Medical Building in Houston, TX: 33,000 SF multi-tenant medical bldg built in 2005 on 3 ac lot near Houston Northwest Medical Center. 90% leased to 2 tenants. NOI not avail.  $4.9M.


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