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 between $700K-$20M on the market today (please advise if you are interested in properties above $20M). Underlined phrases if any indicate safe hyperlinks 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. Walgreens in Tucson, AZ: 15,525 SF drug store built in 1996 on 1.96 acres lot at an intersection. 100% NNN- lease till 2016. NOI $252K/yr. Store with strong sales revenue of $7M (profitable and likely to renew lease). $2.933M. 8.5% cap.
2. Alfredo’s Mexican restaurant in Los Angeles, CA: 1584 SF highly-rated drive thru restaurant on ¼ ac corner lot in densely-populate area with over 1.1M residents in 5 miles. 10 yrs NNN lease till 2015. NOI $79K/yr. Only $899K. 8.88% cap.
3. O’Reilly Auto Part in Lynn Haven, FL: 6944 SF O’Reilly built in 2010 on .64 ac lot in Panama city metro. 20 yrs NNN corp lease to O’Reilly (NASDAG ORLY). NOI $102K/yr. with 6% rent bump in 2020. $1.307M. 7.8% cap.
4. KFC in Charlotte, NC: 2718 SF KFC on ½ ac lot in high income area. Tenant has been here since 1986. New 20 yrs NNN lease to a franchisee with 9 stores. NOI $75K/yr. $1M. 7.5% cap. Tenant will spend $300K from sales proceed to renovate the restaurant after close of escrow.
5. Wendy’s in Surprise, AZ: 2137 SF Wendy’s restaurant built in 2009 on .87 ac outparcel in front of Kohl’s in high growth (1200% since 2000), high income (AHI 94K/yr in 1 mile) Phoenix metro. 15 yrs absolute NNN ground lease till 2023 (land is for sale) to an operator with 18 stores. NOI 72K/yr with 12% rent bump every 5 yrs (next on in 11/2013). $1.074M. 6.75% cap now (7.58% in 2013).
6. Walgreens in Nashville, TN: 14,560 SF Walgreens on 1.67 acres corner lot. 100% absolute NNN lease till 2029. NOI $371K/yr. $5.122M. 7.25% cap.
7. Strip Mall in Indianapolis, IN: 5936 SF strip center built in 2007 on .86 ac corner lot next to Walgreens in high income area. 100% NNN leased to Starbucks, Subway and Verizon Wireless. NOI $157K/yr. $1.907M. 8.25% cap.
8. Office Building in Las Vegas, NV: 27,102 SF 3-story office building with attached parking garage on busy Sahara Avenue. 73% occupied. Current NOI $195K/yr. $2.3M. 8.5% cap. Just $85/SF. Upside potential when fully leased.
9. Childcare Center in South Elgin, IL: 10,000 SF childcare center built in 2009 on .91 ac corner lot in affluent (AHI $119K/yr) Chicago suburbs. 100% NNN corp leased to Children of America. NOI $238K/yr with 2.5% annual rent bump. $2.739M. 8.7% cap.
© Transmercial 2011.
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