Top 7 Properties 05-28-10

Welcome new investors.  Each property has a brief description and an one-page flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog.

NOI: Net Oper Income—income after tax, insurance and maintenance expenses paid.

AHI: Avg. Household Income

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses

1. Shopping center in Castaic, CA: 22,400 SF 22-unit retail center in  fast growing (51% since 2000) high income (AHI $102K/yr) LA suburbs.  Just off I-5 exit. 90% leased.  NOI $293K/yr. $3.995M. 7% cap. 
2. Walgreens in Holy Hill, FL: 13,662 SF drug store built in 1998 on 1.6 acres corner lot in Daytona Beach.  100% NN lease with 8 yrs remaining.  NOI $267K/yr. 8.36% cap. 
3. Starbucks in Texas City, TX: 1733 SF coffee shop built in 2008 on .46 ac parcel in front of Kroger supermarkets just off Hwy exit south of Houston.  100% NNN lease with 9 yrs remaining.  NOI $93K/yr. $1.17M. 8% cap. 
4. Advance Auto in Houston, TX: new 6127 SF auto parts store just across the street from a supermarket.  15 yrs NNN lease.  NOI $125K/yr. $1.518M. 8.25% cap. 
5. Advance Auto in Jacksonville, FL: 7000 SF auto parts store built in 2007 on 1.44 acres lot in a growing area.  Near Publix, Food Lion, IHOP, Walmart, and McDonald's.  100% NNN corp lease with 13 yrs remaining.  NOI $123K/yr. with 10% rent bump in 11-th yr. $1.55M. 7.94% cap. 
6. Cost Plus World Market in Wichita, KS: 18,252 single-tenant retail center in a growing and affluent (AHI $101K/yr) area.  100% NNN corp lease by Cost Plus World market (Nasdaq: CPWM) with 7 yrs remaining.  NOI $237K/yr. $2.259M. 11.3% cap. 
7. Arbys in Colorado Springs, CO: 3246 SF 5-yrs-old fast food restaurant on .83 acre outparcel to King Soopers Grocery in a high growth (134% since 2000) middle class area.  100% absolute NNN lease till Dec 2024 by the largest Arbys franchisee with over 260 locations.  NOI $129K/yr with 7.5% rent bump each 5 yrs.  $1.7M.  7.59% cap.

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