04-15: Best Western Hotel. Apartments, Shopping Centers

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. Retail Center in Fort Myers, FL: 16,992 SF attractive retail center built in 2007 on 1.71 ac lot at a signalized corner location. Close to Edison Mall. 92% NNN leased. NOI $104K/yr. $1.227M. 8.50% cap.
2. Shopping Center in Katy, TX: 68,865 SF shopping center built in 2005 on 6+ ac lot in high income Houston suburbs. Near 146-bed Memorial Hermann Hospital and I-10. 78% NNN leased. NOI $547K/yr. $6.75M. 8.12% cap.
3. Retail Center in Kingman, AZ: 49,208 SF retail center renovated in 2008 on 4+ ac outparcel to Walmart, PETCO, Big Lots, Big 5 and BEALLS. Across from 235-bed Kingman Regional Medical Center. Off/on I-40 ramp. 100% NNN leased to Ross Dress For Less and PETSMART. NOI $436K/yr. $5.46M. 8% cap.
4. Strip Center in Mission, TX: 16,500 SF 9-units strip center in growing McAllen suburbs. All units face main road. Close to Hwy-83. 100% NNN leased. NOI $168K/yr. $2.099M. 8.03% cap.
5. Retail Center in Spring, TX: 13,176 SF retail center on 1.33 ac lot in fast growing and affluent (AHI $147K/yr in 1 mile) Houston suburbs. 100% leased with 2/3 spaces occupied by Heath Care providers. NOI $221K/yr. $2.95M. 7.50% cap.
6. Best Western Hotel in San Antonio, TX: 78-room well maintained hotel on 2+ ac lot. Close to Ingram Park Mall and next to I-410. Amenities include a breakfast bar, outdoor swimming pool, a fitness center and meeting space. 80% avg occupancy rate. NOI $486K/yr. $4.8M. 10.13% cap.
7. Shopping Center in Omaha, NE: 40,419 SF well-maintained shopping center in high income (AHI $107K/yr) area. Across from Hy-Vee Grocery center. 99% leased. NOI $515K/yr. $5.55M. 9.28% cap.
8. Shopping Center in Lake Worth, FL: 81,722 SF shopping center on 8+ act lot anchored by Publix grocery. Near I-95. 100% leased. NOI $522K/yr. $5.8M. 9% cap.
9. Shopping Center in Palatine, IL: 55,000 SF shopping center on 5 ac lot at a major retail corridor in Chicago suburbs. Anchored by a 16,000 grocery store. 100% NNN leased to 19 tenants. 8% cap. NOI/Price not disclosed.
10. Apartments in Fresno, CA: 29-units gated multifamily complex built in 2008 on nearly 2 ac lot. Across from Quigley Park & Williams Elementary School. NOI $201K/yr. $2.9M. 6.96% cap.

© Transmercial 2013