12-09: Wendy's, Jack in the Box, Taco Bell, Family Dollar, Big Lots, Tire Kingdom, MOB

Welcome new investors.  Transmercial is the only company that offers this list of best properties between $700K to $20M in 50 states.  These properties are selected from 300-400 daily listings on CBRE, M&M, SVN, and various other sources.   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 for selection criteria.  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. 

Below are the most commonly used acronyms:

• AHI: Avg. Household Income.  National average is about $55+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. Wendy’s in Cincinnati, OH: 2887 SF well maintained fast food restaurant on 1.30 ac lot at a signalized intersection of major thoroughfares. Excellent ingress/egress. Close to Tri County Mall and I-275. 100% NNN corp lease with 10+ yrs left. NOI $42K/yr. $763K. 5.50% cap.
2. Jack in the Box in Porterville, CA: 3055 SF attractive franchised Jack in the Box completed in 2001 along main retail corridor in San Joaquin Valley. On an off/on ramp of Hwy-65. 100% NNN ground leased. NOI $69K/yr. $1.25M. 5.57% cap.
3. Short-sale Retail Center in Bakersfield, CA: 22,257 SF 10-unit well kept retail center on 1.78 ac lot at a signalized intersection in Downtown area. Close to 414-bed Bakersfield Memorial Hospital and Golden State Mall. 50% leased to 6 tenants.  Pro forma NOI $201K/yr. $2.2M. 9.15% cap.
4. Shopping Center in Redding, CA: 44.246 SF attractive shopping center remodeled in 1997 on 3+ ac lot at a major intersection in a growing middle class city in Northern California. 88% leased. NOI $344K/yr. $3.88M. 8.80% cap. Buyer to assume $2.661M loan at 6.375% interest rate.
5. Taco Bell in Huntsville, AL: 2460 SF franchised drive-thru fast food restaurant built in 2002 on 1 ac lot next to Hwy-1. Across form Walmart. 20 yrs absolute NNN lease with 12 yrs left to strong franchisee with 130+ units. NOI $97K/yr with 1% annual rent increases. $1.465M. 6.65% cap.
6. Family Dollar (S&P BBB-) in Indian Orchard, MA: 9180 SF brand new Family Dollar store in Springfield suburbs. New 10 yrs NNN- lease. NOI $139K/yr. $1.994M. 7% cap.
7. Big Lots in Chico, CA: 24,370 SF retail building in growing area Northern California. Close to Hwy-99. Shadow-anchored by Target, Toys R Us and BevMo. Across from Chico Mall and near Costco and Walmart. 100% NNN lease with 5 yrs left. NOI $178K/yr. $2.75M. 6.50% cap.
8. Tire Kingdom in Tampa, FL: 5904 SF well kept Tire Kingdom on .64 ac corner lot along major retail artery. Tenant has been at this location since 1984. 100% absolute NNN lease with 5 yrs left. NOI $91K/yr. $1.31M. 7% cap.
9. MOB in Orlando, FL: 6550 Class-A medical office building completed in 2005 on 1+ ac corner lot in fast growing area. Across from Gatorland, a 110-acre theme park. NOI $144K/yr. $2.063M. 7% cap.

            (c) Transmercial 2013

12-06: Starbucks, Meineke, Walgreens, Apartments, DaVita Dialysis

1. Starbucks in Edinburg, TX: 2004 SF brand new drive-thru Starbucks on .79 ac lot at a main intersection and next to Hwy-280 in McAllen suburbs. Outparcel to power center with Burlington, TJ-maxx, JCPenney and Ross Dress For Less. Close to 76-bed Edinburg Regional Medical Center. New 10 yrs NNN- corp lease. NOI $89K/yr with 10% rent increases every 5 yrs. $1.557M. 5.75% cap.
2. Meineke in Peoria, AZ: 2550 SF auto repair center built in 2005 on .99 ac outparcel to The Home Depot in Phoenix suburbs. Close to Hwy-101. 100% NNN lease to experienced operator with 6 units. NOI $94K/yr. $1.572M. 6% cap.
3. Shopping Center in Portage, MI: 61,990 SF attractive shopping center on nearly 9 ac lot in Kalamazoo suburbs. Shadow Anchored by Stein Mart Discount Clothing and D&W Fresh Market Grocery Store. Across from The Crossroads Mall. 86% leased. NOI $568K/yr. $6.68M. 8.51% cap. Upside potential.
4. Walgreen’s in Colorado Springs, CO: 13,777 SF drive-thru pharmacy on 1.91 ac lot at a major intersection location in upper middle-class area. Near Super Target, Costco, Best Buy, Kohl’s, Dick Sporting Goods and JCPenney centers. 20 yrs NNN- lease with 2 yrs left. NOI $260K/yr. $3.466M. 7.50% cap.
5. Apartments in Austin, TX: 124-units  apartment complex renovated in 2012 on 4+ ac lot. Amenities include: swimming pool, two gazebos, perimeter fencing with access gates and an on-site leasing office. 100% occupied. NOI $382K/yr. $4.888M. 7.83% cap.
6. Shopping Plaza in Cerritos, CA: 15,568 SF attractive shopping plaza on 1.30 ac lot in Los Angeles County. Adjacent to Los Cerritos Center and near I-605. 100% NNN leased to Big 5 Sporting Goods, Subway, Castlehead Escrow and Providence Speech & Hearing. NOI $239K/yr. $4.8M. 4.98% cap.
7. DaVita in McKinney, TX: 7064 SF Class-B DaVita Dialysis center completed in 2009 in fast growing  Dallas metro. Across from 259-bed Medical Center of McKinney and close to Hwy-75. 100% NNN- lease with 6+ yrs left. NOI $142K/yr with 2% annual rent increases. $2.11M. 6.75% cap.
8. Office Building Burlingame, CA: 29,918 SF Class-B office building in high income area with an AHI of $115K/yr in 3 mile radius South of San Francisco. Across from San Francisco International Airport and next to Hwy-101. 100% NNN lease to credit tenant with 6 yrs left. 7.50% cap. NOI/Price not disclosed.

            (c) Transmercial 2013

12-05: Walgreen's, Texas Roadhouse Steakhouse, Pizza Hut

1. Shopping Center in Vancouver, WA: 29,750 SF mature shopping center on 2.41 acres lot.  Anchored by 14,400 SF Dollar Tree store.  Shadow anchored by Safeway and across from Lowe's and Fred Meyers grocery. 94% NNN leased to 10 tenants with just 1 avail unit.  Current NOI $321K/yr.  $4.28M. 7.5% cap. Note: WA has no state income tax.
2. Walgreens in Orange Park, FL: 13,905 SF Walgreens built in 1996 on 2.3 ac corner lot in high income Jacksonville suburbs.  100% NNN- lease with 3+ yrs left.  Sales revenue over $6M. NOI $248K/yr.  $3.306M. 7.50% cap.
3. Texas Roadhouse in Prescott, AZ: 7135 SF steakhouse restaurant built in 2001 outparcel to 589,854 SF Prescott Gateway Mall, with Dillards, JCPenney, Sears and More.  15 yrs absolute NNN corp ground (land is for sale) lease with 9 yrs left. NOI $99K/yr with a 10% rent bump in 2018. $1.65M. 6% cap.
4. Shopping Center in Miami Garden’s, FL: 52,711 SF shopping center built in 2004 on 6+ ac lot in densely populated Miami suburbs. Next to Hwy 826 off/on ramp. 98% leased. NOI $803K/yr. $9.075M. 8.85% cap.
5. Retail Center in Kissimmee, FL: 12,342 SF retail center built in 2007 on 2.27 ac outparcel to Lowes Home Improvement in Orlando suburbs. Across from The Loop, a Power Center with Regal Cinemas, restaurants and stores. 100% NNN leased. NOI $364K/yr. $4.56M. 8% cap.
6. Retail Center in Dublin, OH: 31,133 SF consisting of four newly constructed buildings on 4.72 ac lot in growing and affluent (AHI $106K/yr) Columbus suburbs. Close to Mall at Turtle Crossing and I-270. NNN leases. NOI $500K/yr. $5.565M. 9% cap.
7. Retail Building in Anaheim, CA: 4711 SF well-maintained retail building in densely populated area with over 500,000 residents within 5 mile radius. Close to Anaheim Town Square, a major power center. Close to Hwy-57. 100% NNN leased to Domino’s Pizza and Fred Loya Insurance. NOI $89K/yr. $1.793M. 5% cap.
8. Retail Center in Myrtle Beach, SC: 13,500 SF retail center built in 2007 on 1.60 ac lot in upper middle class coastal town. 100% leased. NOI $132K/yr. $1.385M. 9.56% cap.
9. Pizza Hut in Canton, MI: 1940 SF free standing retail building on 1 ac lot along major retail corridor in high income Detroit metro. Tenant has been at this location for over 15 yrs. 100% absolute NNN lease with 5 yrs left. NOI $84K/yr. $960K. 8.75% cap.
10. Retail Center in Norton Shores, MI: 10,500 SF attractive retail center in Muskegon suburbs. 81% NNN leased to Sprint PCS, Lux Nails & Spa, The Attic Clothing Store, Advance America, and The Attic Kids Clothing Store. Actual NOI $121K/yr. $1.517M. 8% cap.

            (c) Transmercial 2013

12-04: Goodyear, Burger King, Chili's Restaurant, Strip Centers

1. Strip Center in Dunwoody, GA: 7949 SF attractive strip center on nearly 1 ac lot in high income (AHI $94K/yr) Atlanta metro. 100% NN leased to two stable tenants: Georgia United Credit Union & Serendipity Catering. NOI $136K/yr. $1.53M. 8.92% cap.
2. Goodyear in Clearwater, FL: 10,000 SF well-kept recently-expanded tires and service center on 1.37 ac lot in Tampa suburbs. 10 yrs NNN- lease with 9 yrs left. NOI $105K/yr. $1.354M. 7.75% cap.
3. Children’s Choice in Parker, CO: 11,080 SF highly-rated day care center built in 2008 on 1 ac lot in growing and affluent Denver suburbs with an AHI of $108K/yr in 3 miles.  15 yrs absolute NNN lease. NOI $240K/yr with rent bumps every 2 yrs. $3.3M. 7.25% cap.
4. Burger King in Elk Grove, CA: 2500 SF drive-thru fast food restaurant completed in 1994 on .94 ac outparcel to Power Center anchored by Burlington Coat Factory, Ross Dress for Less and Toys R Us in high income Sacramento suburbs. At major retail artery and close to Hwy-99. 100% absolute NNN lease with 3 yrs left. NOI $90K/yr. $1.8M. 5% cap.
5. Shopping Center in Fresno, CA: 52,950 SF eye-catching L-shaped shopping center on 5+ ac lot at a signalized corner location. Across from Fashion Fail Mall, with Macy’s, JCpenney and FOREVER 21. On a ramp of Hwy-41. 83% NNN leased. Pro forma NOI $662K/yr. $8.55M. 7.75% pro forma cap.
6. Retail Center in San Diego, CA: 9791 SF well maintained nine units retail center anchored by 7-Eleven. Near I-5. 100% NNN leased. NOI $232K/yr. $3.425M. 6.80% cap.
7. Retail Building in Pleasant Hill, CA: 5512 SF retail building in high income (AHI $98K/yr within 3 mile) Contra Costa County (28 miles SW of San Francisco). 100% leased. Pro forma NOI $124K/yr. $1.7M. 7.35% pro forma cap.
8. Retail Center in Fountain, CO: 6509 SF recently renovated retail center on .75 ac lot in growing Colorado Springs suburbs. Across from Super Walmart. 100% NNN leased to Hibbett Sports and Verizon Wireless. NOI $72K/yr. $1.032M. 7% cap.
9. Retail Center in Lawrenceville, GA: 16,300 SF attractive retail center built in 2004 on 1.50 ac lot in growing Atlanta suburbs. All units face main road. 85% NNN leased. NOI $123K/yr. $1.65M. 7.50% cap. Upside potential.
10. Chili’s in West Valley City, UT: 5600 SF built-to-suit recently remodeled Chili’s restaurant on 1.47 ac lot. Close to Zumiez Valley Fair Mall and I-215. 20 yrs NNN lease with 5 yrs left. NOI $169K/yr. $2.516M. 6.75% cap.

           

            (c) Transmercial 2013

12-03: Chipotle, First Choice Emergency Room, BWW, Planet Fitness, Coco's Bakery Restaurant

1. Chipotle in Cincinnati, OH: 3194 SF Chipotle restaurant renovated in 2011 on .75 ac outparcel to Family Dollar center and Walgreen’s in upper middle-class area. Along main retail corridor with 18,300 CPD. 10 yrs NNN- corp lease with 8+ yrs left. NOI $65K/yr. $1.019M. 6.40% cap.
2. First Choice ER in Deer Park, TX: 6500 SF well performing freestanding emergency room renovated in 2013 on .64 ac lot in fast growing Houston suburbs. 7 yrs NNN- lease. NOI $165K/yr with a 10% rent bump in year 6. $2.456M. 6.75% cap.
3. Retail Center in North Las Vegas, NV: 11,458 SF attractive retail center at a signalized corner location shadow-anchored by Fresh & Easy grocery. Tenants include: Hungry Howie's Pizza, Miracle Hearing Aid Store, Clips & Tails Pet Groomers, and other service and medical businesses. NNN leases. NOI $239K/yr. $3.23M. 7.42% cap.
4. BWW in Calumet City, IL: 6700 SF Buffalo Wild Wing Grill & Bar restaurant renovated in 2010 on 1+ ac outparcel to Calumet Center, a 522,222 SF Power Center in Chicago metro. Across from River Oaks Center, a 1,200,000 SF Regional Mall. 10 yrs NNN lease with 9+ yrs left. NOI $126K/yr with 7.5% rent increases every 5 yrs. $1.938M. 6.50% cap.
5. Planet Fitness in La Puente, CA: 20,500 SF newly renovated fitness center on 2.29 ac lot in densely populated Los Angeles area. New 15 yrs NNN lease. NOI $307K/yr with 10% rent bumps every 5 yrs. $4.73M. 6.50% cap.
6. Office Building in Fresno, CA: 22,590 SF well maintained office buildings on 1.81 ac corner lot along main thoroughfare.  Close to Fashion Fair Mall and Hwy-41. 88% leased. NOI $148K/yr. $1.795M. 8.26% cap.
7. Retail Center in Elgin, IL: 10,609 SF attractive retail center completed in 2000 on over 1 ac lot in high income Chicago suburbs. 100% leased to national, regional and local tenants including: ATI Physical Therapy, Sport Clips, The UPS Store and Wing Stop. NOI $254K/yr. $3.3M. 7.70% cap.
8. Strip Center in Tempe, AZ: 8750 SF eye-catching strip center built in 2006 on .81 ac lot at a signalized location in high income Phoenix suburbs. Adjacent to Albertson’s center. 100% NNN leased. NOI $227K/yr. $3.036M. 7.50% cap.
9. Coco’s Bakery Restaurant in San Bernardino, CA: 5626 SF Coco’s Bakery Restaurant on .94 ac lot across from 463-bed St. Bernardine Medical Center. Tenant has been at this location for 34 yrs. 100% NNN corp lease with 5 yrs left. NOI $49K/yr. $950K. 5.20% cap.
10. Planet Fitness in San Antonio, TX: 18,00 SF Planet Fitness center on 2.26 ac lot in fast growing (139.49% pop growth since 2000) and high income (AHI $80K/yr) area. Close to Walmart, H-E-B and Kohl’s. 100% NNN lease with 8 yrs left. NOI $263K/yr. $2.8M. 9.42% cap.

            (c) Transmercial 2013