06-08: Walgreen's, REO's, Valvoline, Round Table Pizza, Rite Aid

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. Walgreens (S&P A) in Jacksonville, FL: 15,070 SF Walgreens built in 1999 on 1.72 ac lot at a signalized intersection close to Jacksonville University. 100% NNN- leased with 7 yrs left. NOI $302K/yr. Price reduced to $3.595M. 8.40% cap.
2. Retail Center in Rockford, IL: 9000 SF high quality constructed retail center built in 2008 on 1+ ac pad site in front of Wal-Mart.  100% NNN leased by 2 tenants: Kochi Japan and Aspen Dental.  NOI $227K/yr. $2.65M. 8.60% cap.
3. REO’ed in Houston, TX: 92,749 SF shopping center built in 2004 on 7.34 acres of land in high income area close to Memorial Hermann Katy Hospital and I-10 exit. 94% NNN leased. NOI $812K/yr. $8.128M. 10% cap.
4. Walgreens in Fresno, CA: 15,120 SF drive-thru Walgreen’s on 1.35 ac lot at a signalized intersection & across from Save Mart Grocery. Near to Kaiser Permanente Fresno Medical Center, Fresno Heart & Surgical Hospital and hwy-41. 100% NNN lease with 9 yrs left. NOI $359K/yr with rare rent increases. $5.536M. 6.50% cap.
5. REO’ed Strip Center in Snellville, GA: 14,450 SF strip center built in 2006 on 1.32 ac lot in fast growing area in high income Atlanta suburbs. At a hard corner signalized intersection and along Hwy-124. Tenant include: Pizza Hut, Golden Krust, Nail Shop, AC Jewelers, Tax office, Nationwide, Sleek Styles and Minutement Press.  78% leased. NOI $181K/yr. $1.89M. 9.58% cap.
6. Valvoline in Costa Mesa, CA: 1189 SF 3-bay Valvoline Instant Oil Change, auto service center built in 1996 on .33 ac lot at signalized corner in high income coastal city in Southern, CA. High barriers to entry area. 100% absolute NNN ground lease with 4 yrs left to strong franchisee with 196 units. NOI $117K/yr.  $1.575M. 7.47% cap.
7. Round Table Pizza in Redding, CA: 2800 SF freestanding retail building on .60 ac lot across from Raley’s anchored center. 100% NNN leased with 7 yrs left. NOI $59K/yr. $827K. 7.25% cap.
8. Rite Aid in Ramona, CA: 20,127 SF Rite Aid Pharmacy on 2.30 ac lot next to Stater Bros Grocery  in San Diego County. 100% NNN long lease. NOI $361K/yr. $4.33M. 8.34% cap.
9. Strip Center in Inglewood, CA: 5416 SF strip center on .18 ac lot in densely populated city (788K people in 5 miles radius) in Los Angeles with easy access to I-405. NNN leased. NOI $111K/yr. $1.549M. 7.20% cap.

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