08-08: Burger King, Discount Tire, Jiffy Lube, KFC, MOB

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. Burger King in Auburn, WA: 3885 SF well maintained fast food restaurant built in 1994 on 1+ ac outparcel to Supermall of the Great Northwest and on/off ramp of Hwy-167 in Seattle metro. 100% NNN lease with 4 yrs left. NOI $84K/yr. $1.215M. 6.91% cap.
2. Shopping Center in Strongsville, OH: 31,100 SF high quality constructed shopping center built in 2000 and anchored by a free standing Walgreens built in 2008.Hard corner location in high income (AHI $98K/yr) Cleveland suburbs. 93% leased. NOI $397K/yr. $4.735M. 8.40% cap.
3. Discount Tire in Henderson, NV: 7000 SF car care center built in 2009 on .80 ac outparcel to 700,000 SF Power Center anchored by Target, TJ Maxx, Ross Dress For Less, PetSmart and Staples. Close to I-215/I515 in growing Las Vegas suburbs. 20 yrs absolute NNN ground lease with 17+ yrs left. NOI $90K/yr with 5% rent bumps every 5 yrs. $1.5M. 6% cap.
4. Jiffy Lube in Westerville, OH: 2500 SF auto center built in 2002 on .65 ac lot in a prime commercial corridor in a fast growing (105%) and well off (AHI $92K/yr within 3 mile radius) Columbus metro. Close to Polaris Fashion Mall and I-71. 100% absolute NNN lease with 12 yrs left to a strong franchisee with 515+ units. NOI $90K/yr with 10% rent increases every 5 yrs. $1.204M. 7.50% cap.
5. Fresenius in Olympia Fields, IL: 11925 SF dialysis center built in 2005 on over 1 acre lot on a major artery in the suburb of Chicago.  High income area.  100% NNN corp lease with 9 yrs left. NOI $225K/year with 3% rent increases every 2 yrs.  $2.916M. 7.75% cap.
6. Retail Center in Batavia, IL: 11,456 SF retail center built in 2005 on 1.16 ac outparcel to Target and Jewel Foods on a prime commercial corridor in Chicago high income (AHI $112K/yr) suburbs. 100% NNN leased to national/regional tenants. NOI $269K/yr. $3.517M. 7.65% cap.
7. KFC in Roswell, GA: 3972 SF KFC well maintained restaurant on .96 ac lot across from Roswell Town Center in fast growing Atlanta suburbs. New 20 yrs absolute NNN lease. NOI $58K/yr with 10% rent increases every 5 yrs. $860K. 6.75% cap.
8. Neighborhood Center in Tulsa, OK: 53,994 SF attractive neighborhood center on 5+ ac lot anchored by O’Reilly and All America Fitness at a hard corner location near Hwy-169. 97% leased to national & regional tenants. NOI $393K/yr. $6.035M. 9.48% cap.
9. MOB in Pomona, CA: 5773 SF medical building on .61 ac corner lot in densely populated Los Angeles area. Close to Pomona Valley Hospital Medical Center and I-10. 100% leased. This is a sale & lease back investments so lease terms are negotiable. NOI $69K/yr. $899K. 7.70% cap.

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