02-20: Michaels, Service King, Burger King, MOB, Retail Centers

1. MOB in Redding, CA: 10,300 SF well maintained medical office building on 2.39 ac lot adjacent to Mercy Medical Center Redding in Northern CA . 100% leased to a surgery center and physicians office. NOI $263K/yr. $3.4M. 7.75% cap.
2. Michael's in Commerce Township, MI: 23,838 SF single-tenant retail building constructed in 2000 in high income (AHI $97K/yr) Detroit suburbs. Next to Target and across from Costco, Movie Theater and The Home Depot. 100% NNN lease  to Michael's with 6-yrs left. NOI $266K/yr with a rent increase in 2017. $3.547M. 7.50% cap.
3. Shopping Center in Hesperia, CA: 29,961 SF shopping center completed in 2007 on 3.21 ac lot at a signalized intersection in high growth middle class San Bernardino County. 96% leased to national tenants such as 99 Cents Only Stores and AT&T. NOI $628K/yr. $8.11M. 7.75% cap.
4. Service King in Mesa, AZ: 12,000 SF attractive auto repair center completed in 1998 on .87 ac lot along main corridor. Close to 287,000 SF Falcon Gateway anchored by Wal-Mart. 100% NNN corp lease with 3-yrs left. NOI $131K/yr. $1.75M. 7.50% cap.
5. Strip Center in Las Vegas, NV: 5833 SF strip center in high income (AHI $98K/yr in 3 miles) area. Adjacent to center anchored by Target and VONS. Near Hwy-95. Actual NOI $105K/yr. $1.5M. 7% cap. Upside potential when fully leased.
6. Office Building in Vallejo, CA: 11,381 SF Class-A 2-tenant office building completed in 1999 on nearly 1 ac outparcel to Costco in Solano County. Across form Gateway Plaza with Target, Beth Bath & Beyond and Old Navy. Close to Six Flags Discovery Kingdom and I-80. 100% leased with 89% spaces leased to Social Security Administration till 2024.  NOI $430K/yr. $5.733M. 7.50% cap. 
7. Shopping Center in Suwanee, GA: 68,409 SF shopping center built in 2006 on 9.54 ac lot anchored by Office Depot in growing and high income Atlanta suburbs with an AHI of $107K/yr in 1 mile. Adjacent to Wal-Mart and across from Lowe’s. 91% leased. NOI $761K/yr. $8.705M. 8.75% cap.
8. Burger King in Bloomfield, CO: 4728 SF drive-thru fast food restaurant at a signalized intersection in high income Denver metro. Tenant has been at this location since 1995.  100% NNN lease to an experienced franchisee with 2-yrs left. NOI $96K/yr. $1.371M. 7% cap.
9. Retail Center in Rockford, IL: 9000 SF retail center built in 2008 on over 1 ac outparcel to Wal-Mart in an upper middle-class area. NOI $275K/yr. $3.25M. 8.47% cap.
10. MOB in Sterling Heights, MI: 15,008 SF Class-B office building close to Crittenton Hospital and Hwy-53 in Detroit suburbs. 100% leased to multiple tenants. NOI $112K/yr. $1.4M. 8% cap.

            (c) Transmercial 2014