08-08: CVS, Family Dollar, Retail Centers, KFC, Office Building, Centennial Wine & Spirits

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 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.  CVS in Largo, FL: 11,200 SF CVs drugstore built in 1998 on 1.76 ac lot at a hard corner in high income Tampa metro.  25 yrs absolute NNN lease with 12 yrs remaining.  NOI $314K/yr. $4.19M. 7.5% cap. 
2. Family Dollar store in Saint Louis, MO: 8000 SF new Dollar store.  New 10 yrs lease from Feb 2012.  NOI $119K/yr. $1.408M. 8.5% cap.  Recession resistant tenant. 
3. Retail Center in Woodbridge, NJ: 16,872 SF retail center on 1.28 acres lot in high income area.  100% leased to 10 tenants.  NOI $435K/yr. $5.8M. 7.5% cap. 
4. KFC in New Haven, CT: 2 KFC restaurants.  20 yrs NNN lease with 15 yrs remaining to a multi-unit franchisee.  NOI $108K/yr. $1.44M. 7.5% cap. (note: not clear if this is the price of 1 or 2 KFCs). 
5. Shopping Center in Fort Pierce, FL: 53,000 SF well-maintained mature shopping center on 5.5 acres lot with 3 entrances/exits on 3 different roads.  New landscape, paint, and resealed parking lot.  80% NNN leases.  NOI $244K/yr. $2.45M. 10% cap.             
6. Strip Mall in Hanford, CA: 5705 SF strip center on .77 ac outparcel to a shopping center in a growing town in San Joaquin Valley.  100% leased to 3 national tenants: 7-11 9with gas station), Check N Go, and Papa Pizza.  NOI $132K/yr. $1.65M. 8% cap. 
7. Office Building in Oklahoma City, OK: 35,862 SF class-A build-to-suit office building completed in 1998 on 4.23 acres lot.  New renewal 6 yrs NN corp leased to William Sonoma, a publicly traded company with net worth of $1.2B.  NOI $457K/yr. $4.572M. 10% cap. 
8. Retail Center in Menomonee, WI: 63,884 SF retail center on 3 acres lot in Milwaukee metro.  98% leased.  NOI $402K/yr. $3.6M. 11.19% cap. 
9. Centennial Fine Wine & Spirits in Addison, TX: 12,500 SF liquor store on 1.18 acres lot in Dallas metro.  20 yrs absolute NNN corp lease with 15 yrs remaining to Centennial Fine wine & Spirits with 67 stores in Dallas area. NOI $235K/yr. with 10% rent bump every 5 yrs. $3.137M. 7.5% cap. 
10. Medical Office Building in San Antonio, TX: 34,000 SF multi-tenant medical office building on a major artery in affluent part area (AHI $95K/yr in 1 mile radius).  87% leased.  NOI $382K/yr. $4.25M. 9% cap.

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