04-23: Starbucks Coffee, Arby's, Club One Fitness, MOB

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. 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. Starbucks in Springfield, MO: 2157 Starbucks Coffee built in 2003 along main retail corridor. Close to University of Springfield and Missouri State University. 100% NNN- lease with 5 yrs left. NOI $104K/yr with 10% rent bumps every 5 yrs. $1.343M. 7.75% cap.
2. Retail Center in Pasco, WA: 14,803 SF retail center built in 1998 on 1.33 ac loot anchored by Aaron’s in growing neighborhood. Adjacent to Hwy-395. 91% leased to 3 tenants: Aaron’s, Quiznos, Liquor store. NOI $174K/yr. $2.32M. 7.50% cap.
3. MOB in Columbus, OH: 32,558 SF Class B medical office buildings along main road. Close to Mt Carmel East Hospital and I-270. 93% NNN leased to strong physician practices. NOI $490K/yr. $6.134M. 8% cap.
4. Retail Center in Houston, TX: 18,288 SF attractive retail center built in 2010 on nearly 2 ac lot in fast growing area. 100% NNN leased. NOI $238K/yr. $2.79M. 8.53% cap.
5. Arby’s in San Angelo, TX: 2400 SF established Arby’s restaurant on .43 ac lot at major thoroughfare. Near 162-bed San Angelo community Medical Center and Hwy-306. 100% absolute NNN corp lease with 5+ yrs left. NOI $64K/yr with 2% annual rent increases. $825K. 7.78% cap.
6. Club One Fitness in San Jose, CA: 21,942 SF 2-story upscale fitness center renovated in 2006 on 1.80 ac lot across from Westfield Oakridge Mall in high income area (AHI of $105K/yr in 3 miles). Next to Hwy-85. 20 yrs NNN- corp lease with 6 yrs left.  NOI $451K/yr with 3% annual rent increases. $6.3M. 7.16% cap.
7. Office Building in South Ogden, UT: 17,512 SF Class-B office building constructed in 1993 in high income (AHI $87K/yr) Salt Lake suburbs. 100% absolute NNN lease with 9 yrs left to Ogden Clinic, a well-respected corporation with over 85 heath care providers in 18 specialties. NOI $228K/yr. with 3% annual rent bumps.  $3.268M. 7% cap.
8. Retail Center in West Jordan, UT: 2001 SF well maintained retail center on .72 ac lot in fast growing and high income Salt Lake City suburbs. Across from Home Depot and Kmart. 100% leased to Starbucks and Al Sabor Restaurant. NOI $120K/yr. $1.609M. 7.5% cap.

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