08-08: Rite Aid, Office Buildings, Shopping Centers

Welcome new investors.  Transmercial is the only company in the US 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. Rite Aid in Poughkeepsie, NY: 9492 SF Rite Aid Pharmacy built in 2000 on nearly 1 ac lot in upper middle-class New York MSA. 20-yrs NN- corp lease with 6-yrs left. NOI $287K/yr. $3.574M. 8.04% cap.
2. Office Building in Keyport, NJ: 18,983 SF consisting of two well maintained office buildings constructed in 1990 on 1.45 ac lot in New York metro. 100% leased with mostly medical tenants. NOI $258K/yr. $3M. 8.62% cap.
3. Shopping Center in Houston, TX: 30,330 SF attractive shopping center at a signalized intersection and along Hwy-6. Adjacent to Kroger Grocery center. 100% NNN leased. NOI $420K/yr. $5.75M. 7.31% cap.
4. Neighborhood Center in Aurora, CO: 110,303 SF attractive shopping center on 8.63 ac lot anchored by Burlington Coat Factory in Denver suburbs. Close to Medical Center of Aurora and next to I-225. Near Town Center at Aurora with Macy’s, Sears, Dillard’s and JCPenney. 100% leased. NOI $667K/yr. $9.4M. 7.10% cap.
5. Shopping Center in Concord, CA: 45,800 SF well kept shopping center on 3.74 ac lot anchored by TJMaxx in Contra Costa County. Shadow anchored by 99 Cents Only. 91% NNN leased. NOI $384K/yr. $6.5M. 5.92% cap.
6. Shopping Center in Acworth, GA: 34,949 SF shopping center built in 2002 on 3.82 ac lot in upper middle-class Atlanta suburbs. Along Hwy-41. 100% leased. NOI $415K/yr. $4.995M. 8.31% cap.
7. Shopping Center in Orange, CT: 30,708 SF well maintained shopping center on 3 ac lot at a main retail artery in New York metro. Tenants include: David’s Bridal, Verizon Wireless, Subway, H&R Block, Men’s Wearhouse and Tux, Papa John’s Pizza and Game X Change. 79% leased. 7% cap. NOI/Cap N/A.
8. Retail Center in Melbourne, FL: 18,463 SF attractive retail center built in 2000 on 1.57 ac lot. Shadow-anchored by Walmart and near I-95. 62% leased. Pro forma NOI $193K/yr. $2.1M. 9% pro forma cap.
9. Retail Center in Houston, TX: 18,344 SF 8-units retail center built in 207 on nearly 2 ac lot in a fast growing area. Close to I-10. 93% NNN leased with only 1 vacancy. Actual NOI $241K/yr. $2.7M. 9% cap. Upside potential.

            (c) Transmercial 2014