08-03: shopping centers, Office building, Hardees, Dennys, Advance Auto, Incredible Pizza

Welcome new investors from the WSJ.  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 names 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. Shopping center in Fayetteville, GA: 72,277 SF shopping center built in 1999 on 8.5 acres lot with hwy-85 frontage in upper middle class Atlanta suburbs.  Anchored by Goodwill and Harbor Freight Tools. Across from Fayette Pavilion power center anchored by Home Depot, Target, Walmart, TJ Maxx, Ross, Sports Authority, Best Buy, Old Navy, Publix Supermarket, Marshalls.    77% NNN leased.  Pro forma NOI $565K/yr. $4.9M. 11.54% cap. 
2. Medical Office Building in Warner Robin, GA: 7232 SF class–A medical office building on 1.7 acres lot in growing middle class area.  100% leased to 2 medical tenants: Lakeview Surgery Center and The Nexus Pain Center, both leased till 2021.  NOI $223K/yr. $2.239M. 10% cap.
3.  Office Building in Deerfield Beach, FL: 28,726 SF 3-story class-A office building on 1.5 acres lot in high income Fort Lauderdale suburbs.  Marble floors & with separate HVAC’s and electrical meters.  100% NNN leased to 17 tenants with low avg rent of $13.6/SF/yr.  (this means stable investment and upside potential).  NOI $395K/yr.  $4.4M. 9% cap. 
4. Shopping Center in Palm Desert, CA: 44,044 SF shopping center built in 1998 on 3 ac lot in affluent city (AHI $126K/yr in 3 miles).  Across the street from Palm Desert Westfield Mall.  Anchored by Staples and Fresh & Easy Neighborhood Market.  100% leased to 5 tenants plus AT&T cell tower.  NOI $670K/yr. $8.7M. 7.71% cap. 
5. Hardee’s in Ocoee, FL: 3934 SF fast food restaurant on 1 ac lot in growing & high income Orlando suburbs.  20 yrs absolute NNN corp lease.  NOI $99.8K/yr.  $1.33M. 7.5% cap. 
6. Denny’s in Melbourne, FL: 4675 SF family restaurant on .9 ac lot next to I-95 exit in growing middle class city.  100% absolute NNN leased till 2027 to the 2^nd largest Dennys franchisee with 52 units.  NOI $99K/yr with 4% rent bump in 2013 and 10% every 5 yrs thereafter.  $1.327M. 7.5% cap. 
7. Office Building in Mesa, AZ: 26.348 SF 10-yrs old office building on 2.53 acres corner lot in affluent (AHI $98K/yr in 1 mile) Phoenix metro.  100% NNN leased to 6 tenants.  NOI $294K/yr. $3.5M. 8.43% cap. 
8. Walgreens in Hammond, IN: 14,490 SF drug store built in 2003 on 2.1 acres corner lot in Chicago metro.  100% NNN- leased till 2023.  NOI $290K/yr. $3.766M. 7.7% cap. 
9. Advance Auto in Arnold, MO: 7000 SF auto parts store built in 2000 on 1 ac lot in high income St Louis suburbs.  10 yrs NNN- corp lease with 6 yrs remaining.  NOI $99K/yr.  $1.176M. 8.5% cap. 
10. Single-tenant Retail Center in Tulsa, OK: 95,502 SF Incredible Pizza built in 2001 on 8.14 acres site across from Woodland Hills Mall.  28 yrs absolute NNN lease with 18 yrs remaining.  NOI $636K/yr. $6.7M. 9.5% cap.

© Transmercial 2011.