10-19: Super 8 Hotel, Burlington Coat Factory, Tuffy Auto, Jiffy Lube, Self Storage

• 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.  Super 8 in Kissimmee, FL: 127-room 2-story hotel along US-17 near Airport, Osceola Regional Medical Center and Walt Disney World in Orlando metro.  NOI $400K/yr. $4M. 10% cap.  
2. Burlington Coat Factory in Santa Ana, CA: 58,450 SF single-tenant retail building on 5.32 ac lot close to the prestigious South Coast Plaza and I-405. 100% NNN corp lease with 8 yrs left. NOI $1.66M/yr. with a 2.7% increase in 2012. $14.222M. 7.50% cap.  
3. Arby’s in Springfield, IL: 2742 SF well-performing restaurant built in 2000 on a hard corner location and next to I-55.  Brand new 20-yrs absolute NNN lease to an operator with 36 units. NOI $102K/yr with 10% rent bumps every 5-yrs. $1.316M. 7.75% cap. 
4. Tuffy Auto in Omaha, NE: 3900 SF auto repair and service center built in 2007 on .63 ac lot next to Super Target, Office Max, Hobby Lobby & Sport Authority and across from Wal-Mart Supercenter. In growing (195.41%) and affluent (AHI $102K/yr within 1-mile) area. New 20-yr corp lease. NOI $111K/yr with 7.3% rent bump in 2013. $1.369M. 8.15% cap.  
5. Jiffy Lube in Las Vegas, NV: 3960 SF auto center in fast growing area and close to Beltway-215. Long NNN leased to an operator with 450+ locations. NOI $122K/yr with 2% annual rent increases. $1.742M. 7% cap.  
6. Apartments in Smyrna, GA: 152-units newly renovated multifamily buildings on 12.49 ac lots in Atlanta suburbs. 88% occupied. Proforma NOI $490K/yr. $5.5M. 8.91% cap.  
7. Office Building in Carrollton, TX: 68,699 SF two-story single-tenant office building on 6.87 acres in well-off (AHI $87K/yr within 3 mile radius) Dallas metro. 100% NNN corp lease till 2019 to Certified Payment Processing, a leading provider of electronic payment processing products and services with over $3B in transactions. NOI $576K/yr. with very generous $1/SF (11.82%!) rent escalations every 2 years. $6.3M. 9.20% cap.  
8. Hillsdale Self Storage in San Jose, CA: 53,120 SF 3-story storage facility between Guadalupe Pkwy and Capitol Expr. In high income and high barriers to entry area.  Video surveillance throughout the facility and electronic gate. 92% occupied. NOI $379K/yr. $5.25M. 7.20% cap.    
9. Outlet Center in Pomona, CA: 49,685 SF shopping center on 3.10 ac lot next to Fwy-60 in densely populated Los Angeles suburbs. 100% leased to 3 retail tenants. Proforma NOI $443K/yr. $5.5M. 8.06% cap.

© Transmercial 2011