02-29: Goodwill, Shopping centers, Learning Experience

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.  Goodwill in Temecula, CA: 11,284 SF beautiful single-tenant 2-yrs old retail center on 1.31 ac lot on a major retail corridor in affluent Southern CA area (AHI $101K/yr in 1 mile).  10 yrs corp lease to Goodwill Industries with 65 locations. NOI $177K/yr. with generous 3% annual rent bumps. $2.245M. 7.89% cap. 
2. Retail & Office Building in Glen Cove, NY: 7500 SF well-kept 2-story building on .31 ac lot with excellent visibility in New York metro. Affluent neighborhood with AHI of $124K/yr in 3 mile. 100% leased to 3 retail tenants on the 1^st floor and 4 office tenants on the 2^nd floor. NOI $102K/yr. $1.2M. 8.5% cap.  
3. Shopping Center in San Diego, CA: 29,718 SF newly renovated 15-unit  shopping center including a free-standing Taco Bell on 1.70 ac lot adjacent to Target, Ralph’s, The Home Depot and Dick’s Sporting Goods in  high income (AHI $86K/yr) area. 92% leased. NOI $481K/yr. $6.125M. 7.86% cap.  
4. Shopping Center in Phoenix, AZ: 71,773 SF shopping center built in 2007 on 8.77 acres lot. Anchored by Dollar Tree and Aaron Rent. Shadow-anchored by Walgreen’s, O’Reilly and across from Wal-mart. 81% leased. NOI $814K/yr. $8.74M. 9.32% cap.  Note: list price reflects 60% of replacement cost. 
5. Strip Center in Grand Rapids, MI: 9647 SF Class-A strip center built in 2006 on a hard corner lot.  Anchored by Starbucks Coffee. Across from Centerpointe Mall and next to the Woodland Shopping Mall. 100% NNN leased to 6 good tenants. $277K/yr. $3.95M. 8.96% cap. 
6. Retail Building in Pflugerville, TX: 8066 SF newly constructed retail building across from Wal-Mart Supercenter. Tenants include: AT&T, Pacific Dental and Cottonwood Financial. In fast growing & upper middle-class Austin suburbs. NOI $207K/yr. $2.6M. 8% cap. 
7. The Learning Experience in Sterling Heights, MI: 11,025 SF corporate-managed  daycare center on 2+ ac lot in Detroit suburbs. 10+yrs NNN- lease to a national childcare provider. NOI $264K/yr. with 12% rent bump in year 11.  $2.575M. 10.29% cap. 
8. Retail Building in Charleston, SC: 10,161 SF recently remodeled retail center on 1.10 ac lot with excellent tenant mix: Verizon Wireless, Little Caesars Pizza & Forsberg’s Fine Wine and Spirits. 100% NNN leased. NOI $190K/yr. $2.327M. 8.18% cap.  
9. Retail Center in Camarillo, CA: 8797 SF retail center on 1.90 ac lot next to Camarillo Springs Golf Course. In growing and affluent (AHI $111K/yr in 3 mile) Southern California City.  100% NNN leased. NOI $266K/yr. $3.5M. 8.8% cap. 

© Transmercial 2012.