08-27: Texas Roadhouse, Taco Bell & Long John Silver's, MOB, Mixed-use

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. Strip Center in Chesapeake, VA: 6000 SF strip center built in 2002 in high income Norfolk metro (AHI $102K/yr) and outparcel to Chesapeake Crossing anchored by K-mart, Michaels and Petsmart. Adjacent to Chesapeake Square Mall. 100% NNN leased to Sprint, Allstate and TitleMax. NOI $105K/yr. $1.167M. 9% cap.
2. Texas Roadhouse in Cedar Falls, IA: 7138 SF steakhouse restaurant built in 2007 on 2+ ac lot along major corridor.  Next to College Square Regional Mall and close to University of Northern Iowa and Hwy-27/58. 15 yrs absolute NNN corp ground lease with 10+ yrs left (land is for sale). NOI 107K/yr with 10% rent increases every 5 yrs. $1.787M. 6% cap.
3. Shopping Center in Missouri City, TX: 19,156 SF high-quality constructed shopping center built in 2010 on 1.97ac lot along Hwy-6 in affluent Houston suburbs. 100% NNN leased. NOI $234K/yr. $4.328M. 7.50% cap.
4. MOB in Houston, TX: 21,600 SF Class-B medical office complex built in 2006 on 2.77 ac lot anchored by Texas Children Pediatrics. 100% NNN leased to medical & dental tenants. NOI $338K/yr. $3.375M. 10.04% cap.
5. Retail Pad in Concord, CA: 2894 SF attractive retail pad built in 2005 on .32 ac lot in high income San Francisco Bay area (AHI $90K/yr). 100% NNN leased to Starbucks Coffee (corp lease) & Kumon Learning Center. NOI $100K/yr. $1.825M. 5.51% cap.
6. Office/Retail Center in Parkville, MD: 22,777 SF mixed-use high-quality constructed center in growing Baltimore suburbs. 90% NNN leased. $6.5M. NOI/Cap not provided.
7. Taco Bell & Long John Silver’s in Bradenton, FL: 2808 SF dual-branded Taco Bell and Long John Silver’s fast food restaurant built in 2008 on a major artery in middle-class Tampa metro. 15 yrs NNN lease. NOI $116K/yr with 1.75% annual rent increases. $1.863M. 6.25% cap.

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