09-10: McDonalds, Urgent Care, Apartments, Burger King, Greulich Automotive Center

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 Vancouver, WA: 29,750 SF well maintained shopping center on 2.41 ac lot anchored by a 14,400 SF Dollar Tree in growing Portland suburbs. Shadow anchored by Safeway grocery. 94% NNN leased. NOI $321K/yr. $4.28M. 7.5% cap.
2. Retail Center in Fairview Heights, IL: 6000 SF retail center built in 2005 on .79 ac lot in prime commercial corridor in St Louis suburbs. 100% NNN leased to stable tenants. NOI $98K/yr. $1.2M. 8.20% cap.
3. McDonald’s in Springfield, IL: 4134 SF fast food restaurant in growing middle class area. Next to I-55/72. Tenant has been at this location for nearly 40 yrs. 100% NNN ground lease (land is for sale) with 5 yrs left. NOI $38K/yr. Only $766K. 5% cap.
4. Shopping Center in Buford, GA: 48,470 SF shopping center built in 2006 on 5.83 ac lot. Anchored by Dollar General in fast growing and high income (AHI $98K/yr in 3 mile) Atlanta suburbs. Across from Super Walmart center and near I-85.  84% NNN leased. NOI $571K/yr. $7.625M. 7.50% cap.
5. Apartments in Stockton, CA: 32-unit well kept multifamily complex close to parks, shopping centers and Dameron Hospital. Easy access to I-5 and Hwy-4. NOI $101K/yr. $1.36M. 7.48% cap.
6. Urgent Care in Gahanna, OH: 6000 SF Class-A recently renovated medical office building in upper middle-class Columbus suburbs.  This is a sale lease-back investments, so lease terms may be negotiable. New 15 yrs absolute NNN lease to ExpressMed. NOI $114K/yr with 2% annual rent increases. $1.52M. 7.5% cap.
7. Apartments in Atlanta, GA: 120-unit well maintained apartments on 5.80 ac lot close to transportation, parks and schools. NOI $270K/yr. $3M. 9% cap.
8. Shopping Center in Hesperia, CA: 36,201 SF attractive shopping center built in 2007 on 4.60 ac lot at a signalized corner location in San Bernardino County. National tenants include: 99 Cents Only Stores, US Bank, Taco Bell, and AT&T. 97% leased. NOI $845K/yr. $11.858M. 7.13% cap.
9. Burger King in Arvada, CO: 3719 SF Burger King built in 2003 on .85 ac lot along major artery in affluent Denver metro with an AHI of $158K/yr in 1 mile. 100% absolute NNN lease with 10 yrs left to a strong franchisee with 25+ units. NOI $104K/yr. $1.4M. 7.45% cap.
10. Greulich’s in Mesa, AZ: 8050 SF automotive center on .87 ac lot in upper middle-class Phoenix suburbs. 100% NNN lease with 8 yrs left. NOI $140K/yr with 3% annual rent increases. $1.899M. 7.4% cap.

© Transmercial 2013