02-27: Shopping Centers, Fresh & Easy, Apartments, Popeye's, Ganger Mountain, LaZBoy

Welcome new investors.  Transmercial is the only company that offers this list of best properties between $700K to $20M in 50 states.  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 on the market).  Underlined names, if any, indicate safe hyperlinks that you can click for more info.

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Below are the most commonly used acronyms:

·         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 Edmond, OK: 70,672 SF shopping center remodeled in 2010.  Excellent demographics: fast growing, high income suburbs of Oklahoma city. Anchored by 21,282 SF Ace Hardware, 10,000 SF Dollar General, Rent-A-Center. 89% leased to 15 tenants. Actual NOI $476K/yr. $5.6M. 8.5% cap.  Upside potential when fully leased. 
2. Fresh & Easy in Rialto, CA: 15,100 SF Fresh & Easy Neighborhood market built in 2009 on 1.36 ac lot adjacent to Walgreens and Hwy 210.  20 yrs NNN ground lease (land is for sale) with 17 yrs left to a wholly subsidiary of Tesco, the world 3^rd largest retailer.  NOI $165K/yr with 10% rent bumps every 5 yrs.  $2.75M. 6% cap. 
3. Family Dollar in Lawrenceville, GA: 8320 SF Family Dollar store built in 2011 with brick finish on 1.7 ac lot in fast growing Atlanta suburbs.  10 yrs NNN- lease.  NOI $146K/yr. $1.888M. 7.75% cap. 
4. Apartments in Phoenix, AZ: 351 unit 190,417 SF apartments complex on 8.38 ac lot in middle class area.  Easy access to I-17,  loop 101 and Hwy 51. 90% occupied.  NOI $1.159M. $15M. 7.73% cap. Just $43K/unit. 
5. Office Building in Woodridge, IL: 51,579 SF attractive lake-front office building constructed in 2000  on 3.75 ac lot with easy access to I-355. Affluent (AHI $104K/yr) Chicago suburbs. 100% NNN lease to 3 strong tenants with lease till 2017 and 2019.  NOI $598K/yr with annual rent bumps of 2.5-3% for all 3 tenants.  $7.74M. 7.73% cap.  Just $150/SF. 
6. Popeye’s in Oklahoma, OK: 2376 SF Popeye’s built in 2005 on .66 ac lot. New 10 yrs absolute NNN ground lease (land is for sale) to an operator with 200+ stores.  MOI $75K/yr. $1.111M. 6.75% cap. 
7. Gander Mountain in Fargo, ND: 66,360 SF single tenant retail center built in 2004 on 7 acres lot next to I-94. 15 yrs NNN lease with 7 yrs left to Gander Mountain, largest retailer of hunting & camping gears with 116 stores in 23 states. NOI $786K/yr with 3% rent bumps every 5yrs. $9.825M. 8% cap. 
8. Jiffy Lube in Austin, TX: 2731 SF Jiffy Lube on .31 ac lot.  20 yrs absolute NNN lease with 10 yrs left to an operator with 435 locations.  NOI $105K/yr. with 10% rent bumps every 5 yrs. $1.242M. 8.5% cap. 
9. La-Z-Boy Furniture Gallery in Las Vegas, NV: 21,610 SF single-tenant retail center built in 2006 with Hwy 95 frontage.  Part of Centennial Gateway, a 1 million SF regional power center.  15 yrs NNN lease with 8 yrs left.  NOI $300K/yr. $3M. 10% cap. 
10. Apartments in Phoenix, AZ: 248-unit 182,408 SF apartments built in 1985 on 7.87 ac lot.  Amenities include two swimming pools, two spas, laundry facilities, outdoor barbeques, clubhouse and 248 covered parking spaces, plus 96 additional open parking spaces. 93% occupied.  NOI $509K/yr. $7.3M. 7% cap. Less than $30K/unit.

© Transmercial 2012.