05-17: Goodyear Tire & Auto, MOB, Retail Centers, Walmart Strip Centers

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 loopnet, 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. Goodyear Tire & Auto in Jacksonville, FL: 8000 SF auto center built in 2006 on 1+ ac lot at a signalized intersection. Close to I-95. 15 yrs NNN- corp lease with 8 yrs left. NOI 144K/yr. $1.995M. 7.22% cap. Buyer to assume $949,227 loan at 6.32% interest rate.
2. MOB in Lake Worth, FL: 17,143 SF mature medical office complex consisting of two well-kept medical buildings on .90 ac lot close to JFK Medical Center, North of Fort Lauderdale. NNN leased with only 2 vacant units. Actual NOI $323K/yr. $3.6M. 8.98% cap. Upside potential.
3. Retail Center in Riverview, FL: 12,920 SF attractive retail center constructed in 2006 on 4+ ac lot in Tampa suburbs. Near Sam’s Club and adjacent to 100-bed St. Joseph’s Hospital, currently under development and scheduled to be completed by 2015. Major tenants include: Amscot Financial, Lovely Nails, Wireless & More, Exotic Animals and Mi Casa. $2.515M. NOI/Cap not provided.
4. Retail Center in Sarasota, FL: 11,000 SF retail center built in 2005 on 1.35 ac lot in high income area with an AHI of $70K/yr in 1 mile. Between Walmart Supercenter and Publix anchored center. 100% NNN leased to 4 tenants. NOI $226K/yr. $3.201M. 7.07% cap.
5. Retail Center in Fort Myers, FL: 12,000 SF attractive retail center built in 2008 along main retail corridor in high income (AHI $82K/yr) area. 70% NNN leased to a national tenant. Actual NOI $150K/yr. $1.5M. 10% cap. Upside potential.
6. Strip Center in Franklin Square, NY: 10,088 SF well maintained strip center on .36 ac lot in densely populated (over 700,000 residents in 5 mile radius) and affluent New York suburbs (AHI $106K/yr in 3 mile). 100% leased. NOI $148K/yr. $2M. 7.40% cap.
7. Retail Center in Muskegon, MI: 11,855 SF retail center on 1.41 ac outparcel to Walmart Supercenter and across from Meijer grocery department store. NNN leased to AT&T, Biggby Coffee, Asian Express and America' s Best Contacts and Eyeglasses. NOI $242K/yr. $2.87M. 8.45% cap.
8. Office Building in Centennial, CO: 24,891 SF Class-A multi-tenant office building on over 4 ac lot in fast growing and wealthy (AHI $122K/yr) Denver metro. Close to Centennial Airport. NOI $360K/yr. $4.5M. 8% cap.
9. Shopping Center in San Bernardino, CA: 20,200 SF attractive shopping center completed in 2005 on 3+ ac lot at major retail corridor. Between Costco and Sam’s Club. Close to I-10. 100% NNN leased to eight tenants including Elephant Bar, Pick Up Stix, CitiFinancial, Luau Maui Hawaiian BBQ. NOI $572K/yr. $8.487M. 6.75% cap.
10. Shopping Center in Port St. Lucie, FL: 19,163 SF shopping center built in 2005 at a signalized intersection and outparcel to Walmart supercenter. Across from Sam’s Club. Tenants include: Payless ShoeSource, Metro PCS, ColorTyme, GameStop and Radio Shack. 93% NNN leased with 1 small vacant unit. NOI $291K/yr. $3.76M. 7.75% cap. Upside potential when fully leased.

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