01-15: K1 SPEED, REO'ed, Jack in the Box, Godfather's Pizza, Office Building

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. K1 SPEED in San Antonio, TX: 42,417 SF Electric Indoor Go Kart Racing built in 1995 on 3+ ac lot along Hwy-410 in fast growing area. Close to Ingram Park Mall. 10 yrs NNN lease to a fast growing business with 19 locations. NOI $296K/yr with rent increases. $4.25M. 7% cap.
2. REO’ed Center in Orem, UT: 19,843 SF bank owned well kept retail center on 1.81 ac corner lot in growing upper middle class Provo suburbs. Next to Macey’s grocery store. 58% leased. NOI $176K/yr. $2.425M. 6% cap.
3. Jack in the Box in Gilbert, AZ: 2800 SF drive-thru fast food restaurant on .92 ac lot at a hard corner location. 18 yrs absolute NNN corp lease with 4 yrs left. NOI $138K/yr. $2.095M. 6.60% cap.
4. Retail Center in Royal Palm Beach, FL: 10,000 SF consisting of two well maintained retail buildings on 2 ac lot in growing and high income West Palm Beach suburbs. All units face main corridor. NOI $135K/yr. $1.5M. 9% cap.
5. MOB in Altamonte Springs, FL: 27,797 SF Class-B medical office building in Orlando suburbs. Across from Florida Hospital-Altamonte and adjacent to Altamonte Mall. 100% leased to multiple tenants. NOI $ 360K/yr. $5.15M. 7% cap.
6. Godfather’s Pizza in Albuquerque, NM: 3940 SF brand new retail building in fast growing area. 10 yrs NNN lease. NOI $90K/yr with 3% annual rent increases. $1.285M. 7% cap.
7. Office Building in Saint Petersburg, FL: 10,160 SF Class-A office building at a signalized corner location. In growing area West of Tampa. 100% NNN leased to four tenants. NOI $168K/yr. $2.4M. 7% cap.

            (c) Transmercial 2014