01-10: Family Dollar, Starbucks, Burger King, CarZ, MOB, Fatburger

 

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 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.  Family Dollar in St Petersburg, FL: 9900 SF Family Dollar store built in 2008 on 3/4 ac lot with high-quality block construction (center was not built with FD in mind originally). 10 yrs NNN- lease till 2018 (landlord responsible for roof & structure).  NOI $150K/yr with rent bumps during options.  Price reduced from $1.622M to $1.5M.  10% cap. 
2. Starbucks in Madison, AL: 2458 SF Starbucks in affluent (AHI $128K/yr) Huntsville metro.  100% NNN lease.  NOI $87K/yr.  $1.37M.  6.35% cap.
3. Burger King in Tucson, AZ: 2643 SF Burger King restaurant built in 2007 on 1.08 ac parcel in a growing area.  New 20 yrs NNN lease. NOI 92K/yr with 1% rent from yr 11.  $1.533M. 6% cap.
4. Shopping Center in Houston, TX: 34,730 SF upscale shopping center with Hwy 249 frontage and strong demographics (high growth, & AHI $91K/r in 1 mile).  Shadow anchored by Kroger supermarket.  95% NNN leased. Major tenants include Memorial Hermann Healthcare System, Burger King, Chase Bank, Subway, Great Clips, Wing Stop, Smoothie King, and Willie' s Grill.  NOI N/A.  $10.5M.
5. Shopping Plaza in Tomball, TX: 16,800 SF shopping center built in 2006 on 1.9 ac lot in upper middle-class Houston suburbs.  100% NNN leased to 8 tenants.  NOI $268M. $3.25M. 8.25% cap.  buyer to assume $1.85M loan at 5.75% fixed till 2021. 
6. CarX Auto in Knoxville, TN: 5160 SF CarX Tire and Auto service center built in 2008 on .87 ac lot in high income area.  20 yrs absolute NNN lease till 2028 to Tuffy Auto with 350 locations.  NOI $133K/yr with 10% rent bumps every 5 yrs.  $1.89M. 7.04% cap.
7. Strip Mall in Las Vegas, NV: 12,000 SF retail center on .92 ac lot in booming (170% growth since 2000) with AHI of $81K/yr in 1 mile.  100% NNN leased to 9 tenants. NOI $120K/yr. $1.55M. 7.75% cap.
8. Shopping Center in Plainfield, IL: 29,292 SF shopping center built in 2002 on 3.87 ac lot with easy access to I-55.  High income (AHI $89K/yr in 1 mile) Chicago suburbs.  94% leased to 10 tenants with 1 avail unit.  NOI$216K/yr. $2.692M. 8.04% cap.  Just $92/SF! 
9. Fatburger in Los Angeles, CA: 2016 SF dual-branded Fatburger & Buffalo's Cafe renovated in 2013 and on 1/3 ac lot across from a center anchored by Ralph supermarket and Rite Aid with over 1M residents within 5 miles.  100% NNN leased till Nov 2023 to a restaurant chain with 125 locations.  NOI $63K/yr. with generous 12% rent bumps every 5 yrs.  $1.075M. 5.85% cap.
10. Medical Office Building in Montclair, NJ: 17,000 SF MOB on 1 ac lot near 365-bed Mountainside Hospital in wealthy Newark metro.  100% leased to 11 tenant.  NOI and price n/a.  8.8% cap.

(c) Transmercial 2014