11-05: Fresenius Dialysis, Rite Aid, MOB, Burger King, Retail 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. Fresenius in Springfield, IL: 6567 SF dialysis center renovated in 2012 on .65 acre lot. 15 yrs NNN- lease with 7 yrs remaining to Fresenius Medical Care with 1,800 centers.  NOI $132K/yr with annual rent increases.  $1.858M. 7.15% cap.
2. Retail Center in Tucker, GA: 15,350 SF retail center constructed in 2000 on 1.40 ac lot in Atlanta suburbs. 100% leased with good tenant mix. NOI $187K/yr. $2.25M. 8.35% cap.
3. Shopping Center in Madison, WI: 33,325 SF attractive retail center constructed in 1990 on 3.56 ac lot with good tenant mix such as Auto Zone, Lumber Liquidators and Harbor Freight Tools. Across from Home Depot and close to Hwy-12. 92% NN leased. Actual NOI $236K/yr. $2.916M. 8.11% cap.
4. Rite Aid in Charlotte, NC: 11,421 SF Rite Aid constructed in 1999 on 1.82 acres of lot located at hard corner. 100% NNN corp lease with 5-yrs left. NOI $241K/yr. $3.021M. 8% Cap.
5. MOB in Florence, KY: 18,283 SF well maintained medical office building renovated/expanded in 2007 on 1.71 ac lot anchored by Fresenius Dialysis Center in Cincinnati suburbs. 100% NNN leased to multiple tenants. NOI $320K/yr. $3.375M. 9.51% cap.
6. Shopping Center in Fishkill, NY: 65,000 SF attractive shopping center on 2.77 ac lot anchored by Gold’s Gym in upper middle-class (AHI $85K/yr) New York MSA. Close to I-84. 100% leased with a strong tenant mix. NOI $477K/yr. $5.3M. 9% cap.
7. Burger King in El Paso, TX: 2716 SF drive-thru franchised fast food restaurant built in 1988 on .52 ac lot in a growing border city. Across from Sam’s Club and Hobby Lobby. On on/off ramp of I-10. 100% absolute NNN lease with 6-yrs left to strong operator with 88 units. NOI $94K/yr. $1.42M. 6.69% cap.
8. Strip Center in Dallas, TX: 9800 SF attractive strip center near UTSW University Hospital, Parkland Memorial Hospital, Children’s Medical Center and I-35E. 100% leased. NOI $176K/yr. $2.2M. 8% cap.
9. Retail Center in Lilburn, GA: 19,600 SF well maintained retail center along main corridor in growing Atlanta suburbs. 90% leased with long term tenants. NOI $209K/yr. $2.324M. 9% cap.
10. Retail Center in Maple Shade, NJ: 15,900 SF attractive retail center in high income Philadelphia suburbs. 100% NNN leased to For Eyes Optical, Men’s Warehouse and Mattress Warehouse. Across from 1,095,000 SF Moorestown Mall and 800,000 SF Eastgate Square. 10% cap. NOI & price N/A.

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