10-05: Chase Bank, LA Fitness, 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.  Shopping Center in Ridgeland, MS: 16,075 SF shopping center on busy Hwy-51 and near I-55 in well-off (AHI $84K/yr) Jackson suburbs. NOI $160K/yr. $1.65M. 9.7% cap.  
2. Strip Center in San Diego, CA: 5000 SF strip center anchored by 7-Eleven in densely populated area. 100% NN leased. NOI $121K/yr. $1.715M. 7% cap.  
3. Chase Bank in Altamonte Springs, FL: 3578 SF single-tenant building on .58 ac lot at a signalized intersection and with multiple points of access in Orlando suburbs.  Shadow anchored by a Publix supermarket. NNN corp lease till 2022. NOI $196K/yr with a 9.65% increase in 2013. $3M. 6.56% cap. 
4. Shopping Center in Pensacola, FL: 49,768 SF 4-yrs old shopping center on 9.20 acres of land across from The Home Depot/Wal-Mart. 100% NNN leased with 3 national tenants: Office Depot, Ross and Chili’s (Chili’s Restaurant is on Ground Lease). NOI $434K/yr. $5.83M. 7.45% cap. 
5. Retail Center in Leander, TX: 9600 SF retail center built in 2006 on 1.50 ac lot in Austin metro. Excellent tenant mix: Subway, Super Donuts, Z’s Hair Salon, Marco’s Pizza and Anytime Fitness. 100% NNN leased. NOI $158K/yr. $1.75M. 9.05% cap. 
6. Shopping Center in Covington, WA: 73,169 SF neighborhood center on 7.92 ac lot anchored by Big 5 Sporting Goods and Big Lots.  In a retail corridor across from Wal-Mart. 97% leased. 7% cap. Price not disclosed.  
7. LA Fitness in Covington, WA: 45,000 SF fitness center on 3.99 ac lot at retail thoroughfare and near Hwy-18 in Tacoma metro. 100% leased. $7.6% Cap. Price not disclosed.  
8. Shopping Center in Tucson, AZ: 59,494 SF shopping center on 4.84 ac lot at a busy retail corridor and near I-10. Major renovation in 2003. 100% NNN leased. NOI $695K/yr. $7.85M. 8.86% cap. Buyer to assume  $5.901M loan at 5.85% rate.  
9. Shopping Center in Schaumburg, IL: 21,964 SF renovated shopping center as a corner location. 100% NNN leased with strong mix of local/stable tenants. NOI $337K/yr. $4.1M. 8.22% cap.

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