09-22: Jiffy Lube, Mixed-use, Shopping Centers, Office Buildings

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. Shopping Center in League City, TX: 28,150 SF attractive shopping center constructed in 2002 on over 3 ac lot in growing and affluent Houston suburbs with an AHI of $109K/yr in 1-mile ring. 100% NNN leased. 7.74% cap. NOI/Price N/A.
2. Retail Center in Roseville, CA: 14,400 SF in-line well maintained retail center on 1.32 ac lot shadow anchored by Ross Dress For Less and Hobby Lobby in Sacramento suburbs. Adjacent to Walmart, Target and Raley’s Supermarket. Near Kaiser Permanente-Roseville. 90% leased. $3.5M.
3. Jiffy Lube in Phoenix, AZ: 3000 SF auto center on .69 ac lot along major retail corridor and in a high income neighborhood.  Across from Basha’s Grocery anchored center. Close to I-10. 100% absolute NNN lease with over 10-yrs left to a strong operator with 55-units.  NOI $105K/yr with 10% rent increases every 5-yrs. $1.51M. 7% cap.
4. Office Building in Alpharetta, GA: 34,064 SF Class-B multi-tenant office building positioned within The Meadows Business Park in affluent (AHI $127K/yr in 1 mile) Atlanta suburbs. 76% leased. NOI $225K/yr. $2.8M. 8.05% cap.
5. Mixed-use in Rochester, NY: 36,472 SF consisting of two well maintained retail/office buildings on nearly 4 ac lot. Major tenants include: Pier 1 Imports, Skechers, and Ruby Tuesday. Adjacent to 140-store Mall at Greece Ridge, with Macy’s, Sears, Dick’s Sporting Goods, Marshalls and Bed Bath and Beyond. 100% NNN leased. NOI $384K/yr. $6.4M. 6% cap.
6. Shopping Center in Tulsa, OK: 46,502 SF attractive shopping center on 4.45 ac corner lot  in a fast growing area. NOI $290K/yr. $2.75M. 10.56% cap.
7. Strip Center in Franklin Park, NJ: 7000 SF strip center at a busy corridor in affluent New York suburbs with an AHI of $115K/yr in 1 mile. 100% NNN leased. NOI $134K/yr. $1.89M. 7.14% cap.
8. Retail Center in West Chester, OH: 22,000 SF attractive retail center built in 2004 outparcel to West Chester Hospital in Cincinnati suburbs. Close to I-75. 100% NNN leased to eleven tenants. NOI $450K/yr. $5.5M. 8.19% cap.
9. Retail Center in Arlington, TX: 6186 SF retail center on .74 ac lot in a fast growing and high income (AHI $109K/yr) Fort Worth/Dallas suburbs. 100% leased. NOI $89K/yr. $1.175M. 7.60% cap.
10. Retail Center in Edison, NJ: 7200 SF retail center on .47 ac lot along Hwy-27. Near JFK Medical Center in high income New York suburbs. 85% NNN lease with good tenant mix. NOI $117K/yr. $1.75M. 6.69% cap.

            (c) Transmercial 2014