09-19: Rite Aid, Walgreens, 7-Eleven, Shopping centers

Welcome new investors.  Each property has a brief description and a flyer (attached).  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.

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• 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. Rite Aid in Reading, MA: 13,611 SF drug store built in 1997 on 1.5 acres corner lot with convenient 4 points of access in affluent (AHI $99K/yr in 1 mile) Boston suburbs. 20 yrs absolute NNN lease till 2028.  NOI $301K/yr with 10% rent bump every 10 yrs.  $3.469M. 8.7% cap. 
2. Neighborhood center in Arlington, TX: 118,559 SF busy neighborhood center on 13.39 acres lot next to I-20 in well off Dallas metro (AHI $88K/yr). Anchored by 44.854 SF LA Fitness Center with 20 yrs lease till 2021. 95% NNN leased to 20 tenants with 2 avail units.  NOI $1.327M. $16.587M. 8% cap. 
3. 7-Eleven Strip Center in San Bernardino, CA: 6003 SF retail center built in 2009 on .59 ac corner lot across from Walgreens.  Anchored by 7-Eleven with 15 yrs NNN lease.  100% NNN leased to 3 tenants: 7-Eleven, T-Mobile and Nutrition 4 Kids (WIC program).  NOI $149K/yr. $2.22M. 6.75% cap. 
4. Walgreens in Port Saint Lucie, FL: 14,820 SF drug store built in 2009 on 2.39 acres lot in a fast growing city.  25 yrs absolute NNN lease with 23 yrs remaining.  NOI $508K/yr. $7.85M. 6.47% cap. 
5. Shopping Center in Cary, NC: 26,983 SF built in 1999 on 3.3 acres corner lot in upper middle class Raleigh-Durham suburbs.  Anchored by stable NC Dept Motor Vehicle.  100% NNN leased to 14 tenants.  NOI $304K/yr. $3.6M. 9% cap. 
6. Shopping Center in Gahanna, OH: 40,763 SF shopping center in affluent Columbus suburbs (AHI $102K/yr in 1 mile radius).  100% NNN leased to 4 tenants.  NOI $160K/yr. $1.89M.  8.5% cap.  Less than $50/SF!

© Transmercial 2011.