06-24: Big Lots, Denny's Restaurants, Office Buildings, Retail Centers

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. Office Building in Mount Pleasant, SC: 7751 SF Class-B office building in growing and high income (AHI $101K/yr) coastal town. Close to East Cooper Medical Center and I-526. 100% leased to multiple tenants. NOI $82K/yr. $1.1M. 7.50% cap.
2. Medical Office Building in Boise, ID: 10,958 SF attractive multi-tenant medial office building constructed in 2006 on .81 ac lot in growth and high income area. 100% NNN leased to three tenants. NOI $141K/yr. $2.015M. 7% cap.
3. Shopping Center in Bakersfield, CA: 41,238 SF well maintained shopping center on nearly 3 ac lot anchored by Bank of America at a hard corner location. NNN leased to Regional/Local Tenants including ATA Tae Kwon Do, Bank of America, Liberty Tax Services, OneMain Financial, State Farm Insurance, Subway, Thai House and Today's Cleaners. NOI $481K/yr. $7.41M. 6.50% cap.
4. Big Lots in Lewisville, TX: 40,090 SF well kept big-box retail building on over 2 ac lot at a major retail artery in Fort Worth/Dallas metro. 100% NNN corp lease with 6-yrs left. NOI $220K/yr. $3.146M. 7% cap.
5. Retail Center in Las Vegas, NV: 26,375 SF consisting of three attractive retail buildings renovated in 2009 on 2.43 ac lot at a main thoroughfare. Close to Meadows Mall and Hwy-95. 80% leased. Actual NOI $232K/yr. $3.6M. 6.50% actual cap. Upside potential when fully leased.
6. Shopping Center in Mesa, AZ: 37,171 SF attractive shopping center at a hard corner location in Phoenix suburbs. 70% NNN leased. $2.8M. NOI/Cap N/A.
7. Denny’s in Round Rock, TX: 5637 SF Denny’s Restaurant in a high income area with an HAI of $108K/yr in 1 mile and next to I-35. 20-yrs NNN absolute NNN lease. NOI $162K/yr with 2% annual rent increases. $2.7M. 6.01% cap.
8. Denny’s in Austin, TX: 4300 SF sit-down family restaurant on nearly 1 ac lot at a hard corner location.  Close to Lakeline Mall and adjacent to Hwy-183. New 15-yrs NNN lease. NOI $144K/yr with 1.5% annual rent increases. $2.4M. 6% cap.

            (c) Transmercial 2014