07-02: Jiffy Lube, Logan's Roadhouse, Denny's, MOB's

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.

For a full marketing brochure, please reply and specify the property number.  We may ask you for feedback later for the listing brokers.  If so, please help.

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. Jiffy Lube in Avondale, AZ: 2134 SF Jiffy Lube built in 1995 on .46 ac lot close to I-10 in Phoenix metro. 15 yrs absolute NNN lease with 10 yrs left to strong franchisee with 50+ units. NOI $108K/yr with 10% rent increases every 5 yrs. $1.309M. 8.25% cap.
2. Retail Center in Boise, ID: 15,000 SF retail center on 1.35 ac outparcel to Wal-Mart and Lowe’s. Next to I-84 exit.  Tenants include: Verizon, GameStop, U-Swirl, Papa John’s, Payless ShoeSource, T-Mobile and Sprint. 100% leased. NOI $331K/yr. $4.731M. 7% cap.
3. Logan’s Roadhouse in Orlando, FL: 8000 SF steakhouse restaurant built in 1999 on 1.64 ac outparcel to Wal-Mart Supercenter and Lowe’s. Next to Florida’s Tpke and close to Florida Mall. 100% NNN lease with 14 yrs remaining. NOI $234K/yr with annual rent increases. $3.133M. 7.50% cap.
4. MOB in Morgan Hill, CA: 29,210 SF two-story high quality medical office building constructed in 2002 in affluent Silicon Valley suburbs (AHI $120K/yr). Easy access to Hwy-101. 100% leased. NOI $522K/yr. $7.25M. 7.20% cap.
5. MOB in Canyon Country, CA: 5466 SF Class-B medical office building on .84 ac lot in high income Santa Clarita suburbs. Next to Fwy-14 and close to Facey Medical Facility.  90% leased. NOI $110K/yr. $1.575M. 7% cap.
6. Denny’s in Melbourne, FL: 5420 SF Denny’s on 2+ ac lot in affluent (AHI $104K/yr) & fast growing coastal town. Close to new Viera Hospital and I-95 exit/entrance. 100% NNN lease with 4 yrs left. NOI $102K/yr. $1.25M. 8.16% cap.

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