Tuesday, March 5, 2013

02-18: Strip centers, apartments


  1. Strip Mall in Fresno, CA: 4800 SF strip center on a outparcel to Manchester Shopping center next to Hwy 41 exit.  100% leased to Starbucks, Panda Express and Deli Delicious. NOI $133K/yr. $2.2M. 6.04% cap. 
  2. Multifamily in Downey, CA: 8-unit multi-family on .37 ac lot in Los Angeles county.  Close to Fwy 5, 105, and 710.  Remodel within a year with new granite counter tops in kitchen, bathrooms, tile,  carpet floors, dishwasher, stove, paint, blinds. 100% occupied with gross income of $159K/yr. $1.8M. 7.32% cap. 
  3. Apartments in Richmond, VA: 40-unit apartments.  Recent improvements include new roof, hot water heaters, forced air gas heater with central air and heat pumps.  NOI $127K/yr. $1.6M. 7.94% cap. 
  4. Apartments in Houston, TX: 64-unit apartments on 1.54 ac lot in high income area in Houston (AHI $88K/yr in 1 mile).  Totally renovated in 2010-2011.  100% occupied. $NOI $259K/yr. $2.875M. 9% cap. 
  5. Shopping Center in Reno, NV: 7300 SF retail center built in 2005 on 1.5 ac outparcel to a shopping center anchored by Savemart supermarket, Walgreens, Staples, and Dollar Tree. Growing & high income area.  100% NNN leased to 5 national/regional tenants - Qdoba Mexican Grill, Subway, Go Wireless, Supercuts and Paycheck Advance.  NOI $217K/yr. $2.899M. 7.5% cap.


© Transmercial 2013

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