07-20: shopping centers, Carls Jr, Starbucks, Best Buy, Pizza Hut

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. Strip Mall in Milpitas, CA: 9884 SF strip center on .64 ac lot near I-680 exit in affluent city in Silicon Valley (AHI $115K/yr in 1 mile).  Shadow anchored by Lucky Supermarket, Fitness USA, Rite Aid, O'Reilly Auto Parts.  NOI $164K/yr.  $2.25M. 7.2% cap. 
2. Shopping Center in Glendale, AZ: 91,563 SF mature shopping center on 7.18 acres lot in upper middle class Phoenix metro (AHI $84K/yr).  Anchored by Big Lots!  93% NNN leased to 20 tenants with just 1 vacant unit.  NOI $769K/yr.  Price reduced from $9.5M to $8.995M. 8.52% cap. 
3. Carl’s Jr in Las Vegas, NV: 3198 SF Carl’s Jr built in 2007 on .62 ac in high growth, high traffic area in North Las Vegas.  25 yrs absolute NNN lease with 21 yrs remaining to an operator with 40 units.  NOI $147K/yr. with 12% rent bump every 5 yrs.  $2.1M. 7% cap. 
4. Starbucks in Weslaco, TX: 1750 SF Starbucks coffee built in 2008 on .54 ac outparcel to 191,000-Square Foot Ross and Bealls Anchored Center and across from Home Depot.  High growth McAllen metro.  10 yrs corp NNN lease with 8 yrs remaining.  NOI $84K/yr with 10% rent bump every 5 yrs.$1.12M 7.5% cap. 
5. Best Buy in Pueblo, CO: 20,044 SF Best Buy store built in 2007 on 3 acres lot near I-25 in high growth area.  100% NNN- corp lease till 2018.  NOI $274K/yr. with 3% rent bump every 5 yrs.  $4.076M. 6.73% cap. 
6. Shopping Center in Mason, OH: 20,150 SF multi-tenant shopping center built in 2005 on 2.5 acres outparcel to a new Walmart Supercenter in high growth (108% since 2000) high income (AHI $96K/yr in 3 miles) Cincinnati suburbs. 89% leased to 7 good tenants (AAA, GameStop, Supercuts).  NOI $326K/yr. $3.95M. 8.25% cap. 
7. Strip Center in Hiram, GA: 7488 SF strip center built in 1997 on an outparcel to Walmart supercenter and across from Big-K in fast growing Atlanta suburbs.  100% NNN leased to 2 tenants: Sears and an Orthodontist.  NOI $171K/yr. Price reduced from $2M to $1.725M. 9.92% cap. 
8. Retail Center in Sugar Land, TX: 16,800 Sf retail center built in 2004 on 1.79 acres lot on Hwy 6 in fast growing middle class Houston suburbs.  100% NNN leased.  NOI $160K/yr. $$1.725M. 9.32% cap. 
9. Pizza Hut in West Carrollton, OH: 2631 SF Pizza Hut on .55 ac lot in Dayton metro.  20 yrs NNN lease to an operator with 105 restaurants.  NOI $80K/yr with 1.5% annual rent bump. $1.006M. 8% cap.

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