11-03: MOB, AAA, Rite Aid, 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. MOB in Miami, FL: 18,026 SF Class-B consisting of three medical office buildings on 1.63 ac lot adjacent to Baptist Hospital of Miami. 78% leased to multiple tenants. Actual NOI $389K/yr. $5.9M. 6.60% cap. Upside potential.
2.  Retail Center in Marion, OH: 11,870 SF attractive newly constructed retail center on 1.51 ac lot across from The Ohio State University at Marion. 100% leased. NOI $249K/yr. $3.696M. 6.75% cap.
3. Neighborhood Center in Louisville, KY: 74,300 SF well maintained shopping center on 9½ ac lot anchored by grocery store in a fast growing area. 83% NNN leased with good tenant mix. NOI $549K/yr. $7.85M. 7% cap.
4. Shopping Center in Mesa, AZ: 94,894 SF well-maintained shopping plaza on 10.43 acres corner lot in Phoenix metro.  95% leased.  NOI $562K/yr. $6.9M. 8.15% cap.
5. Retail Centers in Houston, TX: 97,576 SF consisting of four retail buildings on over 8 ac lot anchored by Goodwill in a fast growing and high income area. All units face main corridor. 95% NNN leased. NOI $1,140M/yr. $14.25M. 8% cap.
6. AAA in Salinas, CA: 7293 SF Class-B office building in growing Monterey County. With easy access to Hwy-101. 100% NNN lease with over 5-yrs left to AAA, a brand name tenant. NOI $123K/yr. $1.5M. 8.20% cap.
7. Office Building in Santa Clara, CA: 12,900 SF Class-B multitenant office building along main corridor in high income (AHI $100K/yr) Silicon Valley. NNN leased. NOI $172K/yr. $2.7M. 6.39% cap.
8. Office Building in Van Nuys, CA: 10,190 SF Class-A office building completed in 1991 along major artery. Near Valley Presbyterian Hospital and I-405. 100% leased to multiple tenants. Pro forma NOI $180K/yr. $2.2M. 6.50% cap.
9. Rite Aid in Livonia, MI: 11,180 SF Rite Aid Pharmacy built in 1998 on 1.48 ac corner lot in upper middle class Detroit suburbs. Close to Botsford Hospital and Hwy-5. 20-yrs NN corp lease with 4-yrs left. NOI $212K/yr. $2.429M. 8.75% cap.

            (c) Transmercial 2014