03-10: Jack in the Box, Family Dollar, Checkers, Office Complex

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. Jack in the Box in Fresno, CA: 2429 SF drive-thru fast food restaurant at a hard corner location and along main retail artery. 10 yr absolute NNN corp lease with 7 yrs left. Tenant has been at this location 30+ yrs.  NOI $100K/yr with a CPI rent bump in 2016 at an amount not to exceed 12%. $1.9M. 5.28% cap.
2. Retain Center in Fresno, CA: 12,430 SF attractive retail center built in 2007 on 1+ ac lot. Tenants include: Wells Fargo, Papa Murphy’s, Take’N’Bake Pizza, Lety’s Mexican Grill, A-1 Eyebrow and Beauty Salon & Mane Attraction Hair Salon. Adjacent to Walgreen’s pharmacy. 100% NNN leased. NOI $260K/yr. $3.6M. 7.25% cap.
3. Shopping Center in Bellflower, CA: 44,009 SF well maintained shopping center completed in 1991 on 1.65 ac lot at a signalized corner location in Los Angeles County. Close to Hwy-91. 86% leased with excellent tenant mix including Jack in the Box and 7-Eleven. Actual NOI $669K/yr. $9.995M. 6.70% actual cap. Upside potential.
4. Family Dollar in Fort Worth, TX: 8320 SF retail building constructed in 2001 on 1½ ac lot at a signalized location in fast growing area. 10-yrs NN lease with 7-yrs left. NOI $126K/yr. $1.45M. 8.75% cap. Buyer to assume $717K fully-amortized loan at 6.3% due on 2021.
5. Office Building in San Antonio, TX: 40,157 SF Class-A office building completed in 2000 on nearly 2 ac lot. Close to Huebner Oaks Power Center, South Texas Medical Center and I-10. 100% leased to multiple tenants. NOI $386K/yr. $5.5M. 7.02% cap.
6. Retail Building in Chicago, IL: 4680 SF retail building remodeled in 2005 in densely populated area with over 900,000 residents in 5 mile radius. Adjacent to 487,000 SF The Brickyard Mall. 100% leased to 7-Eleven and B-Fresh. NOI $111K/yr. $1.275M. 8.78% cap.
7. Checkers in Conyers, GA: 736 SF double drive thru fast food restaurant on .38 acre lot along Hwy-138 in Atlanta metro. Near i-20. 100% NNN ground lease to an operator with 54 locations.  NOI $66K/yr. $942K. 7% cap.
8. Office Complex Scottsdale, AZ: 33,861 SF Class-B consisting of three multitenant office buildings in Phoenix suburbs. 96% leased to 16-tenants. NOI $295K/yr. $4.05M. 7.30% cap.

            (c) Transmercial 2014