02-11: Harbor Freight Tools, CVS Pharmacy, MOB, Neighborhood Centers

   

Welcome new investors.  Transmercial is the only company in the US that offers this list of best properties between $950K to $30M in 50 states.  These properties are selected from 300-400 daily listings on major commercial real estate companies, 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.  Transmercial will guide you thru the whole acquisition process if needed.  It will track all the issues via the "Due Diligence Summary" report until they are all resolved prior to closing.

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. Retail Building in Northglenn, CO: 7048 SF attractive retail center in growing Denver suburbs. Renovated in 2008. Excellent visibility. High barrier to entry area. Close to Northglenn Marketplace, Thornton Town Center Mall and I-25. 100% leased to Advanced Urgent Care and Dazbog Coffee. NOI $143K/yr. $2.2M. 6.50% cap.
2. Harbor Freight Tools (S&P B+) in Portland, OR: 21,725 SF well maintained single tenant retail building on over 1 ac lot along main retail corridor. Across from Fred Meyers Supermarket. Near Eastport Plaza anchored by Walmart, Jo-Ann Fabric and LA Fitness. 10-yrs NNN lease with 9-yrs left. NOI $260K/yr with 10% rent bump in year 6. $4.17M. 6.25% cap.
3. CVS Pharmacy in Clinton Township, MI: 13,013 SF drug store constructed in 2004 on 6 ac lot at a signalized corner location in upper middle class Detroit suburbs. Tenant has been at this location since 1995. 100% NNN corp lease with 10+yrs left. NOI $320K/yr with rare 3% rent increases every 5-yrs. $5.124M. 6.25% cap.
4. Shopping Center in Tamarac, FL: 79,998 SF well maintained shopping center on over 7 ac lot at a major corner location in Fort Lauderdale suburbs. Adjacent to University Hospital & Medical Center. Major tenant include: Sav-A-Lot Grocery, R.C. Hobbies, Dunkin’ Donuts, Goodyear Tire and Quest Diagnostics. 92% leased. Actual NOI $787K/yr. $10.5M. 7.50% cap. Upside potential.
5. Retail Center in Round Rock, TX: 9157 SF shopping center on 1.60 ac lot along main corridor in high income Austin suburbs. Close to St. David’s Round Rock Medical Center. 100% NNN leased. NOI $161K/yr. $2.3M. 7% cap.
6. MOB in Lancaster, CA: 7497 SF well maintained single tenant medical office building in Southern California. Near Antelope Valley Hospital and Hwy-43. NOI $112K/yr. $1.875M. 6% cap.
7. Neighborhood Center in Houston, TX: 110,115 SF shopping center on 9 ac lot anchored by PetSmart at a major corner location. Close to 339-bed Houston Northwest Medical Center. Adjacent to major Power Centers and I-45. 87% leased. Actual NOI $1.122M/yr. $14.960M. 7.50% actual cap. Upside potential when fully leased.
8. Retail Center in Louisville, KY: 16,100 SF attractive retail center on 1.22 ac lot in a growing middle class area. Adjacent to Home Depot and Target. Across from Kroger and hhgregg shopping center. NNN leased. 8.75% cap. Price N/A.

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