08-28: Burger King, MOB, 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. Shopping Center in Buford, GA: 48,470 SF eye-catching shopping center built in 2006 on 5.83 ac lot in fast growing and high income Atlanta suburbs. Anchored by a 10,400 SF Dollar Tree. Across from Walmart Supercenter and close to I-85. 92% NNN leased with excellent tenant mix. Actual NOI $571K/yr. $7.625M. 7.50% cap. Upside potential. NOTE: flyer not available, full brochure upon request.
2. Shopping Center in Frankfort, IL: 28,433 SF well maintained shopping center constructed in 1996 in growing and in an affluent (AHI $139K/yr in 1 mile) neighborhood in Chicago metro (in low Will county taxes). 93% leased with stable tenants. NOI $322K/yr. $3.995M. 8.06% cap.
3. Retail Center in Las Vegas, NV: 5529 SF newly constructed retail center on .68 ac lot across from 171-bed Centennial Hills Hospital. 100% NNN leased to Dunkin Donuts and Molly’s Gaming. NOI $159K/yr. $2.36M. 6.75% cap.
4. Retail Center in Newnan, GA: 12,600 SF well kept retail center built in 2000 on nearly 2 ac lot in fast growing and high income Atlanta metro. 100% leased to Advance Auto Parts, Sherwin Williams and Snap Fitness. 8.75% cap. NOI/Price Not Disclosed. 
5. Retail Center in Houston, TX: 10,425 SF attractive strip center built in 2008 on 1.20 ac lot in high income area with an AHI of $107K/yr in 1 mile. 100% NNN leased to Starbucks, Edible Arrangements, Mathnasium, Hair Salon, Edward Jones, Alama Tamales and CherryBerry Yogurt Bar. NOI $246K/yr. $3.185M. 7.75% cap.
6. Burger King in Palatine, IL: 2250 SF drive-thru fast food restaurant on .69 ac lot in Chicago suburbs. Across from Arlington Park Race Track and near Hwy-53. 20 yrs absolute NNN lease with 4 yrs left. NOI $76K/yr. $931K. 8.25% cap.
7. MOB in Whittier, CA: 19,702 SF Class-B medical office building on nearly 2 ac lot in densely populated Los Angeles area. Across from Presbyterian Intercommunity Hospital. NOI $279K/yr. $3.578M. 7.81% cap.
8. Shopping Center in Colorado Springs, CO: 23,110 SF upscale shopping center built in 2003 in growing middle-class area. Adjacent Walmart Supercenter. 100% leased with regional/national tenants. $6.95M. NOI/Cap Not Provided.
9. Apartments in Greenville, SC: 90-unit attractive apartment complex on almost 4 ac lot close to schools & shopping centers. 100% occupied. NOI $239K/yr. $2.925M. 8.18% cap.
10. Apartments in Tucson, AZ: 52-unit multifamily complex on 2.59 ac lot in upper middle-class area. NOI $163K/yr. $2.2M. 7.42% cap.

© Transmercial 2013