08-13: REO'ed Center, MOB, Shopping Centers, Retail Centers

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. Retail Center in Brown Deer, WI: 16,412 SF retail center consisting of two buildings constructed in 2007 on 1+ ac lot at a signalized corner location in fast growing Milwaukee suburbs. Tenants include: Barber, Zimmeman Printing, State Farm, Snap Fitness, The Beanery, Forward Dental, Shops on Sherman and Papa Johns Pizza. 100% NNN leased. NOI $189K/yr. $2.2M. $8.62% cap.
2. Office Building in Stone Mountain, GA: 6792 SF office building renovated in 2009 on .75 ac lot close to Hwy-10/78 in Atlanta metro. 100% NNN leased to long term tenants. NOI $77K/yr. $920K. 8.46% cap.
3. REO’ed Shopping Center in McDonough, GA: 19,200 bank-owned high quality constructed shopping center built in 2007 on Hwy-155 & close to I-75 in fast growing (172.73% pop growth since 2000) Atlanta metro. 75% leased. NOI $170K/yr. $1.5M. 11.36% proforma cap.
4. Strip Center in Kissimmee, FL: 7,700 SF strip center outparcel to shopping center and next to Valencia Community College in Orlando suburbs. All units are facing Hwy-192. 100% leased. NOI $81K/yr. $900K. 9% cap.
5. MOB in Half Moon Bay, CA: 15,335 SF 2-story medical office building in an affluent coastal town (AHI over $133K/yr) South of San Fran. Tenant is making $1M in improvements. 100% leased to the County of San Mateo with 9+ yrs left. 4% annual rent increases. $6.45M. NOI/Cap not provided.
6. Retail Center in Phoenix, AZ: 7534 SF retail center built in 2005 on 1 ac lot shadow-anchored by Walgreen’s and Auto Zone. 100% NNN leased. NOI $162K/yr. $1.599M. 10.19% cap.
7. Shopping Center in Lawrenceville, NJ: 28,964 SF shopping center on 1.76 ac lot at high traffic location in affluent Philadelphia suburbs with an AHI of $96K/yr within 1 mile. Close to I-95/295 and the New Jersey Turnpike. 85% NNN leased. NOI $276K/yr. $3.455M. 8.01% cap.
8. Shopping Center in Mesa, AZ: 55,076 SF shopping center remodeled in 2010 on 5.17 acres of land in Phoenix metro. Near Superstition Springs Center and Hwy-60. 100% leased to two tenants: Goodwill and 99 Cents Only.  NOI $429K/yr. $5.37M. 8% cap.