07-31: Home Depot, Big Lots, O'Reilly Auto Parts, Old Country Buffet, Carinos Italian Grill, Jiffy Lube

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. Home Depot in Las Vegas, NV: 102,370 SF Home Depot built in 1992 on over 9 ac lot off I-515 in fast growing middle class Las Vegas metro.  Across 346,000 SF Power Center anchored by Wal-Mart, Office Depot, Party City and more.  100% NNN with 6 yrs left.  NOI $1.074M /yr.  $15.915M. 6.75% cap.
2. Strip Center in Sacramento, CA: 12,561 SF strip center built in 1990 on 1.42 ac lot at busy corridor. Across from light rail station and near Fwy-50. 71% leased to 5 tenants with 2 vacant spaces. NOI $125K/yr. $1.525M. 8.20% cap. Upside potential when fully leased.
3. Big Lots in Carpentersville, IL: 32,000 SF big box retail building in fast growing and high income (AHI $95K/yr) Chicago suburbs.  Across from Springhill Mall. 100% NNN lease with 7 yrs left. NOI $160K/yr. $2.2M. 7.30% cap.
4. Strip Center in Sebastopol, CA: 8362 SF well maintained strip center anchored by E-Eleven in Sonoma County. 100% NNN leased to long-term tenants. NOI $129K/yr. $1.78M. 7.25% cap.
5. O’Reilly Auto Parts in Ontario, CA: brand new 10,974 SF O’Reilly Auto Parts on .90 ac lot at hard corner location along main thoroughfare and with easy access to I-10 in Rancho Cucamonga suburbs. 15-yrs absolute NNN corp lease. NOI $98K/yr with 6% rent increases every 5 yrs. $1.646M. 6% cap.
6. Old Country Buffet in Mesa, AZ: 9124 SF Old Country Buffet on 1.82 ac outparcel to Superstition Springs Mall and near Fwy-60. 100% NNN lease. NOI $175K/yr. $2.15M. 8.18% cap.
7. Strip Center in Norwalk, CA: 9544 SF strip center at a signalized corner location near I-5. 100% NNN leased to City Bank, Orthopedic, Farmers insurance, Mind's Eye and Donut shop. NOI $160K/yr. $2.14M. 7.50% cap.
8. MOB in Riverside IL: 14,925 SF newly remodeled medical office building close to hospitals. Current tenants: American Cancer Society, Adventist Healthcare and two other medical practices. Only 3,400 SF vacant unit. $2.49M.  Cap/NOI not provided.
9. Carino’s Italian Grill in Longmont, CO: 6938 SF Italian restaurant built in 1999 in affluent Denver’s suburbs (AHI $104K/yr).  Across from Twin Peaks Mall.  100% absolute NNN corp lease.  NOI $152K/yr with annual rent increases. $2.028M. 7.5% cap.
10. Jiffy Lube in Colorado Springs, CO: 3020 SF recently renovated Jiffy Lube on .41 ac lot at a hard corner location and close to I-25 in Colorado Springs metro. 15 yrs absolute NNN lease. NOI $111K/yr. $1.388M. 8% cap.  

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