03-17: Taco Bell, Office Building, Neighborhood center, Lone Star, Rite Aid

1. Retail Center in Alpharetta, GA: 10,808 SF 5-unit retail center built in 2004 on 1.69 acres corner lot in high growth (155% since 2000)), high income (AHI $102K/yr in 2 miles) Atlanta suburbs.  63% leased to 3 tenants with 2 avail units.  Pro forma NOI $142K/yr.  $1.4M.  10% cap.
2. Corp Taco Bell/Long John Silver in Plant City, FL: 2924 SF dual-branded Taco Bell-Long John Silver on ½ acre outparcel to a shopping center in Tampa suburbs.  20 yrs NNN corp ground lease (land is for sale) with14 yrs remaining.  NOI $44K/yr with 10% rent bump every 5 yrs.  Only $733K.  6% cap.  Great for 1^st time investors.
3. Office Building in Las Vegas, NV: 24,000 SF office building on 1.13 acres lot.  15 yrs NNN corp lease to Qwest Communications (NYSE: Q) with 4+ yrs remaining.  NOI $448K/yr with 1.5% annual rent bump. $5.28M. 8.5% cap.
4. Boston Market in Whittier, CA: Boston market restaurant on .59 acres lot in densely populated middle class area in Los Angeles.  Across from a neighborhood center with Anna’s Linen, Petco, Michaels, Old Navy, Ralph’s, Rite Aid, Dollar Tree, Ross, TJMaxx, Staples, and Burlington.  20 yrs NNN corp leased till 2015.  NOI $71K/yr including $12K in percentage rent (NOI in 2016 will be $94K/yr).  $1.19M. 6% cap.
5. Neighborhood Center in Mesa, AZ: 70,699 SF shopping center built in 2005 on 12.2 acres lot in fast growing upper middle class Phoenix metro.  Easy access to Superstition Hwy.  Shadow anchored by Wal-mart supercenter.  84% leased.  NOI $670K/yr.  $8M. 8.4% cap.  Priced below replacement value.
6. Marketside by Wal-Mart in Gilbert, AZ: 14,841 SF Marketside store by Wal-mart on 2.07 acres corner lot  in affluent Phoenix suburbs (AHI $99K/y in 1 mile).  100% NNN Wal-mart corp lease with 9 yrs remaining.  NOI $344K/yr. $4.749M. 7.2% cap.
7. Lone Star Steakhouse in Bourbonnais, IL: 5498 SF steakhouse on 1.58 acres outparcel to a 275,000 SF shopping center anchored by Target, Staples, Marshalls, Michaels, and Petsmart.  Across from Northfield Square Mall in Chicago metro.  Store with strong $2.3+M in sales and profitable business.  15 yrs NNN corp lease with 11.5 yrs left.  NOI $194K/yr. $1.892M. 10.25% cap.
8. Rite Aid in East Northport, NY: 10,908 SF drug store on a corner long in affluent New York suburbs (AHI$117K/yr).  100% NNN corp lease since 2003.  NOI $462K/yr.  $5.605M. 8.25% cap.  Buyer to assume $4.325M loan (77% LTV) at 5.59% interest due in 2015.

© Transmercial 2011.

03-16: Medical Office buildings, IHOP, Retail centers

1.      Medical Office Building in El Paso, TX: 7500 SF brand new class-A single-tenant medical office building in a high-growth (160% since 2000) high income part of El Paso.  15 yrs NNN lease to Fortune 500 medical group.  NOI $161K/yr with 8% rent bump every 5 yrs.  $2.15M. 7.5% cap.

2.      IHOP in Bend, OR: 5132 SF restaurant on .69 ac hard corner lot across from Bend River Promenade Mall with Macy's, Kohl's, TJ Maxx, and Sear. 25 yrs absolute NNN corp lease with 8+ yrs remaining.  NOI $151K/yr with 12% rent bump every 5 yrs.$2.1M. 7.2% cap.

3.      Medical Office Building in Ceres, CA: 10,840 SF medical office building constructed in 1999 on 1.59 acres lot in fast growing Modesto metro.  92% NNN leased to Stanislaus County Health Services on a 15 yrs lease with 3 yrs remaining.  Tenant will consider early option to renew lease till 2024.  NOI $207K/yr. $2.3M. 9% cap.

4.      Office Tower in Houston, TX: 121,997 SF 6-story high image office building on 3 acres lot with easy access to Hwy 59.  Recently under gone significant capital improvement.  89% leased.  Actual NOI $762K/yr.  $8.5M.  8.97% cap.  Less than $70/SF!

5.      Strip Center in Belvidere, IL: 12,000 SF mature strip center on .79 acre lot in Rockford metro.  100% leased to 11 tenants.  NOI $68K/yr. $799K.  8.5% cap.

6.      Shopping Village in West Jordan, UT: 101,574 SF shopping village on 10.3 acres at the corner of 2 major arteries in a growing middle-class area in Salt Lake City.  Across from a shopping center anchored by Target, Office Depot and Petco.  NOI $763K/yr (not clear actual or pro forma).  $8.978M. 8.5% cap. Just $88/SF.

7.      Shopping Plaza in Salt Lake City, UT: 40,932 SF mature shopping plaza built in 1986 on 2.26 ac lot in middle class area.  97% lease.  NOI $276K/yr.  $3.25M. 8.5% cap.

8.      Shopping Center in Bristol, CT: 42,951 SF shopping center on 3.5 acres lot in business district Hartford metro.  92% leased to CVS, Family Dollar, Subway, Armed Forces and Bank.  NOI $510K/yr.  $5.9M. 8.65% cap.

© Transmercial 2011.

03-15: Shopping Plaza, Burger King, West Marine, Apartments

1. Shopping Plaza in Austin, TX; 26,310 SF shopping plaza built in 2004 with I-35 frontage.  Shadow anchored by Wal-mart Supercenter and Lowe’s.  100% NNN leased to 7 tenants.  NOI $476K/yr.  $5.775M. 8.26% cap.
2. Former Ramada Plaza Hotel in Macon, GA: 298-room 16-story former Ramada Plaza hotel on 2.2 acres lot. Amenities include: 14 Meeting Rooms, Event Space, Two Restaurants, Bar, Lounge, Exercise Room, Business Center and Shop Space, outdoor pool and sundeck with Men's and Women's Saunas. $3.35M.  Just over $11K/unit.
3. Burger King in Ocala, FL: 2749 SF restaurant on .94 ac lot in a growing city in Central FL.  New 20 yrs NNN lease with no landlord responsibility to an operator with 8 units.  NOI $83K/yr with 5% rent bump every 5 yrs.  $1.045M. 8% cap.
4. Single tenant Office Building in Wilmington, MA: 26,415 SF 2-story office building on 2.19 acres lot in affluent Boston suburbs (AHI $104K/yr).  Renovated in 2003-2005. The building is the corporate headquarters for AdvanSource Biomaterials Corporation.  New long term NNN lease.  NOI $300K/yr. $2.75M. 10.7% cap.
5. Office Towner in Dallas, TX: 51,043 SF 4-story class-B office building on 2.1 acres lot with I-30 visibility.  Building has undergone $500K capital improvement in the last few years.  84% leased.  NOI $370K/yr. $3.45M. 10.75% cap.
6. West Marine in Buford, GA: new 14,620 SF single-tenant retail center on 1.24 acres lot in Atlanta metro, just 1 mile from Lake Lanier.  10 yrs NN to West Marine (NASDAG: WMAR).  NOI $215K/yr. Price reduced to $2.581M. 8.35% cap.
7. Office Building in Belleview, WA: 52,376 SF 10-yrs old class-A single-tenant office building on 2.69 acres lot in upscale Belleview in Seattle metro.  100% NNN leased to Lexis-Nexis.  NOI $1.2M/yr.  $16.25M. 7.4% cap.
8. Apartments in Wilmington, DE: 12-unit apartments in quiet neighborhood.  100% occupied.  NOI $63K/yr.  $730K.  8.65% cap.

© Transmercial 2011.

03-14: Starbucks, Sonic, Medical Buildings, Christian Brothers Auto, Walgreens, AutoZone

Transmercial is pleased to announce Maria is back from her 10-week maternity leave.

1.      Starbucks in Sacramento, CA: 2658 SF retail center on 2/3 acre corner lot in front of a shopping center anchored by Save Mart Supermarket and Rite Aid.  Across from Foods Co Supermarket.  100% NNN leased to Starbucks till 2015 (it subleases some space to Mr Pickles Sandwiches which is good for both Starbucks and landlord).  NOI $92K/yr. with 15% rent bump in the next 5 yrs option.  $1.32M.  7% cap.

2.      Sonic Drive-in in Roseville, CA: 1718 SF restaurant built in 2008 on .85 acre lot 1 block from Hwy 65 in high growth (250% since 2000) and high income (AHI $82K/yr) Sacramento suburbs.  New long term NNN ground lease (land is for sale).  NOI $145K/yr. $2.008M. 7.25% cap.

3.      Medical Office Building in Phoenix, AZ: 5013 SF MOB built in 2010 on .357 ac lot in front of Saint Joseph’s Hospital in middle class area.  100% NNN- leased to 2 tenants: Select Physical Therapy (946 locations in US) and The Fetal & Women's Center of Arizona (7 locations).  NOI $101K/yr.  $1.31M. 7.75% cap.

4.      Medical Office building in League City, TX: 24,240 SF class-A lake-front MOB built in 2007 on 2.4 acres lot in fast growing middle class Houston suburbs.  100% NNN leased.  NOI $495K/yr.  $6.2M. 8% cap.

5.      Christian Brothers Automotive in Sharpsburg, GA: 4921 SF new automotive center on ½ acre lot in affluent Atlanta suburbs (AHI $98K/yr).  15 yrs NNN corp lease from a fast growing company.  NOI $172K/yr with 1.5% annual rent bump.  $2.092M. 8.25% cap.

6.      Single tenant retail center in Escondido, CA: 9068 SF Hispanic grocery store built in 2006 San Diego suburbs.  15 yrs NNN lease with 11 yrs remaining.  NOI $178K/yr with 4% annual rent bump. $2.382M. 7.5% cap.

7.      Walgreens in Henderson, NV: 15,100 SF drug store built in 2001 on 1.64 acres corner lot in fast growing upper middle class area in Las Vegas metro.  100% NNN lease with 10 yrs remaining.  NOI $497K/yr. with rare 10% rent bump every 10 yrs. $6.425M.   7.73% cap.  This is a good Walgreens.

8.      Strip Center in Glendale, CA: 2765 SF 3-tenant strip center in densely-populated area in Los Angeles with over 650K residents.  100% leased.  NOI not avail. $799K.

9.      AutoZone in Pomona, CA: 6050 SF auto parts center built in 1997 on .79 acre corner lot in Los Angeles metro with very high barrier to entry.  100% NNN- corp lease with 2 yrs remaining.  NOI $127K/yr. $1.75M. 7.3% cap.  Store with strong sales of over $2.135M/year. 

© Transmercial 2011.

03-11: Shopping Centers, Carl's Jr, Medical office buildings, Jiffy Lube, Kohl's

1. Shopping center in Pembroke Pine, FL: 68,170 SF shopping center renovated in 2002 on a corner lot across from Pembroke Lake Mall in good income North Miami.  100% NNN leased to 3 high quality tenants: Aldi Market, Office Deport and Buybuy Baby (owned by Bed Bath & Beyond). NOI $695K/yr. $10M. 6.95% cap. 
2. Carl’s Jr in Las Vegas, NV: 2925 SF new fast food restaurant across from Centennial Hill Medical Center and Kohl’s anchored shopping center.  Fast growing (374% since 2000) and high income (AHI $86K/yr) North Las Vegas.  20 yrs NNN lease to a 39+ unit operator with exclusive right for entire city.  NOI $165K/yr with 10% rent bump every 5 yrs.  $2.444M. 6.75% cap. 
3. REO’ed Marketplace in Lilburn, GA: 144,939 SF mature marketplace on 22 acres lot in high income Atlanta suburbs.  Anchored by Framer Market grocery.  68% occupied.  Currently NOI $289K/yr.  $4.95M. 5.84% cap.  Strong upside potential when fully leased. Just $35/SF! 
4. Medical Office Building in Arlington Height, IL: 18,154 SF MOB on 1.38 acres lot in high income (AHI $96K/yr in 1 mile).  100% leased to 3 medical tenants.  NOI $439K/yr. $4.1M. 10.72% cap. 
5. Retail Center in Arlington, TX: 22,590 SF mature retail center on 1.87 acres lot near I-30.  90% NNN leased to 10 tenants with 2 small vacant unit.  NOI $148K/yr. $1.25M. 11.9% cap. 
6. Jiffy Lube in Danbury, CT: 1952 SF established Jiffy Lube on ¼ ac lot in fast growing upper middle class area (AHI $96K/yr).  Next to Home Depot, Border’s Books and I-84.  New 20 yrs absolute NNN lease the largest Jiffy Lube franchisee with 415 locations.  NIOI $104K/yr.  With 10% rent bump every 5 yrs.  $1.228M. 8.5% cap. 
7. Kohl’s Department Store in Centerville, UT: 89,911 SF Kohl’s department store built in 2008 on 7.2 acres lot near I-15 in Salt Lake city metro.  Shadow anchored by Super Target, Home Depot, Big 5 Sporting Goods and Pier 1 Imports.  Long term NNN corp lease (BBB+ S&P rating).  NOI n/a. $18.25M. 
8. Strip Center in Port Saint Lucie, FL: 8140 SF strip center built in 2007 in a fast growing city.  100% leased by 6 tenants.  NOI $157K/yr. $1.75M. 9% cap. 
9. Medical Office Building in Elmhurst, IL:  19,633 SF 2-story MOB in upper middle class Chicago suburb.  93% NNN leased.  NOI $277K/yr. $2.9M. 9.58% cap. 
10. Shopping Center in Knoxville, TN: 53,000 SF shopping center on 6 acres lot.  Shadowed anchored by Kroger Supermarket.  92% leased.  NOI $439K/yr. $4.625M. 9.5% cap.

(c) Transmercial 2011.

03-10: KFC, Chevron, Office building, Shopping center, O'Reilly, Round Table Headquarters

1. KFC in Montgomery, OK: 2673 SF KFC with drive thru built in 1992 on ¾ ac lot.  New 20 yrs NNN lease to a 197 unit operator. NOI $73K/yr. With 7.5% rent bump every 5 yrs.  $1.009M. 7.25% cap.  Store with strong sales of over $970K/yr.
2. Chevron Gas Station in Sunnyvale, CA: Chevron gas station with convenience store and car wash built in 1998 on .42 ac lot on Mathilda Ave at Hwy 101.  Station pumps over 1M gallon/yr. NOI $258K/yr. $2.4M. 10.78% cap.
3. Office Building in San Jose, CA: 4480 SF office building on .21 ac lot near West gate Mall in affluent area (AHI $120K/yr).  90% leased at below market rent.  NOI $45K/yr. $899K. 5% cap.  Just $200/SF!
4. Shopping Center in Ontario, CA: 45,075 SF shopping center on 3.89 acres lot as part of a larger center next to hwy 60 (Pomona Fwy).  100% NNN leased by 3 tenants including: Sears Outlet, Dunn Edwards Paints.  NOI $678K/yr. $7.825M. 8.65% cap.
5. O’Reilly in Lynn haven, FL: new 6944 SF auto parts store on .64 acre lot in growing Panama city metro.  20 yrs NNN corp lease.  NOI $102K/yr with rent bump every 10 yrs.  $1.307M. 7.8% cap.
6. Lone Star Steakhouse in Dayton, OH: 5498 SF franchised steakhouse built in 1995 on 1.75 acres lot.  Near Wal-Mart Super Center, Sam' s Club, Olive Garden, Smokey Bones, Red Lobster, Hooters, Outback Steakhouse, ,Hooters, Max & Erma' s, Skyline Chili.  15 yrs NNN lease with 11 yrs remaining.  NOI $171K/yr with 2% annual rent bump. $1.559M. 11% cap.
7. Round Table Pizza/Dairy Queen Corp Headquarters in Carrollton, TX: 21,156 SF single-tenant office building renovated in 2011 on 1.42 acres lot in upper middle class Dallas suburbs (AHI $92K/yr).  New 20 yrs absolute NNN lease.  NOI $240K/yr with 10% rent bump every 5 yrs.  $2.825M. 8.5% cap.
8. Office Building in Sunnyvale, CA: 6600 SF vacant office building on .22 acre lot near Hwy 101 & 237.  $1.388M.

© Transmercial 2011.

03-09: Gold's Gym, Wyndham hotel, Office Depot, Lone Star Steakhouse, Garden center, Mini storage

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.  Underlined phrases if any indicate (safe) hyperlink that you can click for more info.   

AHI: Avg. Household Income.  National average is about $50+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. Gold’s Gym in Monterey, CA: 21,198 SF fitness center on 1.78 acres lot in an affluent coast city (AHI $123K/yr) with extremely high barriers to entry.  Easy access to Hwy 68.  Established gym for 30 yrs.  New 15 yrs NNN absolute lease.  NOI $312K/yr with 1.25% annual rent bump. $3.67M. 8.5% cap. 
2. Wyndham Hotel in Grapevine, TX: 101-room hotel on 2 acres lot near DFW airport in high income Dallas suburbs. $4.75M. 
3. Office Depot in Greensboro, NC: 27,416 SF Office Depot built in 1994 in upper middle class (AHI $87K/yr in 1 mile) area.  100% NNN lease with over 13 yrs remaining.  NOI $328K/yr with 10% rent bump in 3.5 yrs.  $4.112M. 8% cap. 
4. Lone Star Steakhouse in Dayton, OH: 5611 SF steakhouse built in 1994 on 1.23 acres lot in commercial corridor near Dayton Mall.  Surrounded by Home Depot and Lowes, Aldi Foods, TJ Maxx, Aarons, HH Gregg, Dicks Sporting Goods, Showcase Cinemas, Ashley Furniture, Best Buy, La-Z-Boy, and Toys R Us. Applebee' s, Mr. D' s and Burger King.  15 yrs NNN lease with 11+ yrs remaining.  NOI $149K/yr with 2% annual rent bump.  $1.357M. 11% cap. 
5. Garden Center in Saratoga Springs, NY: 20,500 SF single-tenant garden center on 6 acres lot in a growing area.  100% absolute NNN lease with 14 yrs remaining.  NOI $131K/yr. $1.5M. 8.73% cap. 
6. Mini storage in Sacramento, CA: 31,420 SF mini-storage facility built in 1996 by the executive airport. 76% occupied.  NOI $192K/yr.  Price reduced from $2.7+M to $2.075M. 8.1% cap.

© Transmercial 2011.

03-08: 24-Hr Fitness, Walgreens, On the Border, Medical Office building, Sonic, Forever 21, Shopping centers

1.      24-Hr Fitness in Vancouver, WA: 51% interest in a 45,000 SF 24-Hr Fitness center built in 2008 on 3.56 acres lot in a fast growing city.  NOI $436K/yr with 10% rent bump every 5 yrs.  $5.395M. 8% cap.  Buyer with $970K in equity to assume $4.424M loan (82% LTV) at 6.34% interest due in 2018.

2.      Walgreens in Boothwyn, PA: 9750 SF drug store built in 2004 on 1.3 acres lot in Philadelphia middle-class suburbs. 100% NNN lease with 9 yrs remaining and rare 4.5% rent bump every 3 yrs.  NOI $202K/yr. $2.6M. 7.8% cap.

3.      On the Border in Cranberry Township, PA: 5211 SF franchised OTB Mexican Grill restaurant built in 2005 on 2.13 acres lot with easy access to I-76 and I-79 in affluent Pittsburg suburbs (AHI $103K/yr).  10 yrs absolute NNN corp ground lease with 5 yrs remaining (note: land is for sale.  Should tenant not renew the lease, the building estimated at $1M in value with belong to landowner).  NOI $131K/yr.  $1.643M. 8% cap.  Great property!

4.      Medical Office Building in Rochester, NY: 32,500 SF 2-story class-A single-tenant medical office building completed in 2000 on over 3 acres lot.  100% NNN leased to Elizabeth Wende Breast Care.  100% NNN leased to 2022.  NOI $654K/yr.  $7.7M. 8.5% cap.

5.      Sonic Restaurant in Houston, TX: 2779 SF Sonic restaurant built in 2001 on .96 acre lot across from 174,000 SF shopping center anchored by Randals grocery, Office Depot, Dollar Tree and Anna’s Linen.  Next to Hwy 290 exit.  15 yrs NNN corp ground lease (land is for sale) with 5 yrs remaining.  NOI $56K/yr. $754K.  7.5% cap.

6.      Shopping Center in Lisle, IL: 40,650 SF shopping center on 3.5 acres corner lot in Chicago metro.  Strong demographics: AHI $103K/yr. 100% leased.  NOI $380K/yr. $4M. 9.5% cap.

7.      Shopping center in Colorado Springs, CO: 107,310 SF shopping center built in 1988 on 9.5 acres lot.  Anchored by 65,280 SF grocery store Rancho Liborio, and Family Dollar.  88% leased by 11 tenants.  Current NOI $644K/yr.  $7.5M. 8.58% cap.  Upside potential when 100% leased.

8.      Apartments in Redwood City, CA: 10-unit apartment in wealthy Silicon Valley (AHI $150K/yr).  100% occupied.  NOI $100K/yr. $1.328M. 7.56% cap.

9.      Community College in Temecula, CA: 28,353 SF 2-story office building on 1.79 acres lot in fast growing middle class area (88% growth since 2000).  Near I-15 freeway.  100% leased to Mt. San Jacinto College from 2007 till 2014.  NOI $548K/yr. $5M. 11% cap.

10.   Bank-owned Forever 21 in Palmdale, CA: 76,550 SF single tenant retail center across from 1,000,000 SF Antelope Valley Mall.         New 10 yrs NNN lease.  NOI $702K/yr with annual rent bump.  $9.37M. 7.5% cap.

© Transmercial 2011.

03-07: Burlington, TX land & Cattle, Panera Bread, Savemart, Midas, Shopping Center

1.      Bank-owned Burlington in Garden Grove, CA: 83,746 SF single-tenant center as a part of a shopping center anchored by Ross, and Albertson in Orange county.   On busy artery with easy access to I-5 and Fwy-22 with over 800K residents in 5 miles ring.  New 10 yrs NNN lease to Burlington Coat Factory (S&P B- rated).  NOI $628K/yr. $8.38M. 7.5% cap.

2.      TX Land & Cattle Restaurant in Killeen, TX: 7470 SF steakhouse built in 2006 on 2.08 acres lot on a commercial district with Home Depot, Ross, Best Buys, Target and Killeen Mall. 15 yrs absolute NNN lease with 11 yrs remaining.  NOI $287K/yr. with 2% annual rent increase.  $2.612M. 11% cap.

3.      Panera Bread in Grand Rapids, MI: 4724 SF free-standing retail center built in 2003 on .9 acre lot in the highest income part of the city (AHI $97K/yr in 1 mile).  20 yrs NNN lease with 15 yrs remaining to a multi-location franchisee.  NOI $131K/yr.  $1.658M. 7.9% cap.

4.      Shopping center in Mesa, AZ: 19,363 SF shopping center built in 2000 and near Wal-mart.  100% leased to 4 tenants.  NOI $151K/yr.  $1.39M. 10.88% cap.  Just over $70/SF.

5.      Savemart Supermarket in Chowchilla, CA: 46,500 SF 3-yrs old single-tenant big box on 4.75 acres lot.  20 yrs lease to a  regional tenant with 241 stores with 17 yrs remaining.  NOI $287K/yr. with 11% rent bump in 2018.  $4.1M. 7% cap.

6.      Bank owned Retail/Office Center in La Quinta, CA: 38,567 SF 2-story 23-unit upscale retail-office complex on 3.24 acres lot in affluent Palm Desert metro (AHI $146K/yr in 1 mile).  45% leased. Current NOI $229K/yr. $4.162M.  $5.5% cap.  Priced at a fraction of replacement cost.  Strong upside potential when 100% leased.

7.      Midas Auto in Lakeland, FL: 3956 SF 6-bay auto service center on .68 ac lot across from a shopping center anchored by Publix supermarket on a major artery in Tampa metro.  100% NNN corp lease with 7 yr remaining.  NOI $66K/yr with 2% annual rent bump.  $888K. 7.5% cap.

8.      Shopping Center in Laurel, MD: 58,015 SF shopping center on 8.37 acres lot in Washington DC middle-class suburbs.  Anchored by a grocery store and Family Dollar.  98% leased.  NOI $762K/yr. $8.965M. 8.5% cap.

© Transmercial 2011.

03-04: medical buildings, Retail plaza, Burger King, AutoZone, Mixed Use for sale

1.      Medical Office Building in Sacramento, CA: 24,708 SF medical office building on 2.37 acres lot on campus of Methodist Hospital with easy access to Hwy 99.  100% leased over last 5+ yrs.   NOI $430K/yr. $5.8M. 7.42% cap.

2.      Medical Office building in Las Vegas, NV: 44,258 SF medical office building on 2.38 acres lot next to Desert Springs Hospital.  100% occupied.  NOI $788K/yr. $8.1M. 9.74% cap.  Buyer to assume 71% LTV loan at low 5.1% interest.

3.      Retail Plaza in Chicago, IL: 8261 SF retail center on a corner lot in densely populated are with over 1M residents within 5 miles.  100% NNN leased to 6 tenants.  NOI $124K/yr.  $1.395M. 8.94% cap.

4.      Burger King in Oklahoma, OK: 3400 SF Burger King built in 1984 on .72 ac lot next to Wal-mart in strong income area.  New 20 yrs absolute NNN lease to a franchisee with 23 locations.  NOI $90K/yr. with 1.75% rent bump. $1.163M. 7.75% cap.

5.      Burger King in Tulsa, OK: 3040 SF fast food restaurant built in 2000 on .89 ac lot right off Hwy 169 exit in middle class area in a college town.  New 20 yrs absolute NNN lease to a franchisee with 23 locations.  NOI $100K/yr.  with 1.75% annual rent bump. $1.294M.  7.75% cap.

6.      Office Building in Brentwood, TN: 54,489 SF 3-story office building constructed in 1985 on 2.73 acres lot in affluent (AHI $144K/yr) Nashville suburbs. 100% occupied.  NOI and price not avail.  9% cap.

7.      AutoZone in Odessa, TX: 6446 SF AutoZone store on .71 acre lot.  20 yrs NNN corp lease with 15 yrs remaining.  NOI $60K/yr.  Price reduced to $750K. 7.75% cap.  Recession insensitive tenant.

8.      Shopping plaza in Houston, TX: 18,045 SF shopping center built in 2005 next to West Oak Mall in high growth area.  84% NNN lease and seller will masterlease vacant spaces for 2 yrs.  NOI $294K/yr. $2.946M. 10% cap.

9.      Shopping Center in Folsom, CA: 17,445 SF 10-unit shopping center on 1.45 acres corner lot in wealthy Sacramento suburbs (AHI $106K/yr).  89% leased with 2 small vacant units.  NOI $206K/yr. $2.399M. 8.6% cap.  Just $137/SF.

10.   Mixed Use in Hamden, CT: 14,238 SF 2-story mixed use building with 3 retail tenants on 1^st floor and 8 1BR apartments on 2^nd floor in New Haven.  NOI $100K/yr. $1.29M. 7.79% cap.

© Transmercial 2011.

03-03: Popeye's, TireMax, Burlington Coat Factory, shopping center, office building

1. Popeye’s in Rogers, AR: 2877 SF restaurant built in 2004 on ½ ac corner lot about 5 ½ miles from Wal-mart World Headquarters.  Long term NNN lease to a growing franchisee. NOI $90K/yr. $1.07M. 8.41% cap. 
2. TireMax in Lufkin, TX: 4750 SF single-tenant retail center on .7 ac lot across from the Target, between the Home Depot and the Lowe' s.  New 10 yrs NNN at closing to a regional multi-Unit tenant with strong history of responsible growth.  NOI $108K/yr with 10% rent bump every 5 yrs. $1.234M. 8.75% cap. 
3. Former Dental Office in Visalia, CA:  3382 SF former dental office with equipment in place. Across from Sequoia Mall in a growing central valley town. $710K. 
4. Burlington Coat Factory in Chino, CA: 81,282 SF retail center as a part of Chino town square shopping center anchored by Target, Ross Dress for Less, DD' s Discount, and Jo-Ann Fabrics. Densely populated middle-class area. Long term NNN lease to Burlington Coat Factory (S&P B-) with 10 yrs remaining.  NOI $638K/yr. $8.51M. 7.5% cap. 
5. Shopping Center in Houston, TX: 37,375 SF shopping center built in 1998 on 3.48 acres lot in affluent part of Houston (AHI $97K/yr in 1 mile).  Shadow anchored by Kroger supermarket.  95% NNN leased to 12 tenants with 1 small vacant space.  NOI $423K/yr. $4.976M. 8.5% cap. 
6. Office Building in New Berlin, WI: 30,640 SF 3-story class-A office building on 2.17 acres lot next to ProHealth Care medical center in upper middle class Milwaukee suburbs.  88% occupied with 3 small vacant units.  NOI not avail.  $2.2M.  Just over $70/SF.

© Transmercial 2011.

03-02: Wall-mart, AutoZone, Dollar General, Davita retail center, MOB for sale

1.      Wall-mart in Centralia, IL: 71,159 SF big box built in 1991 on 9.92 acres lot in a small town East of St Louis.  100% absolute NNN corp lease till 2017.  NOI $284K/yr. $3.072M. 9.25% cap.

2.      AutoZone in Odessa, TX: 6446 SF auto parts store on .71 ac lot in oil country.  20 yrs NNN- corp lease with 15 yrs remaining.  NOI $60K/yr.  $857K. 7% cap.

3.      Apartments in Ann Arbor, MI: 136-unit well-maintained apartments in a college town (Univ of MI, Eastern MI Univ).  Near St Joseph Mercy Hospital.  NOI $448K/yr. $5.4M. 8.3% cap.

4.      Dollar General in Jacksonville, FL: 9100 SF new dollar store in a dense, mature retail market.  New 15 yrs NNN corp lease.  NOI $115K/yr. $1.445M. 8% cap.

5.      Dental Works in Fayetteville, NC:  4000 SF single-tenant dental office on .9 ac lot directly across from Wall-mart and Lowe’s.  10 yrs NNN lease to a regional tenant with 160 locations in 14 states.  NOI $102K/yr with 10% rent bump in 5 yrs.  $1.36M. 7.5% cap.

6.      Retail Center in Richmond, CA: 12,000 SF strip center built in 2008 on 1.2 acres outparcel to Target next to I-80.  100% NNN corp leased to 3 national tenants: Davita, Payless Shoes, and Game Stop.  NOI $369K/yr. $5.1M. 7.25% cap.

7.      Medical Office building in League City, TX: 13,200 SF 4-yrs old class-A medical office building in fast growing (144% since 2000) Houston middle-class suburbs.  100% NNN leased to Christus Saint Johns hospital, Bay Colony MRI, and Univ of TX Medical Branch.  NOI $176K/yr.  $2.25M. 8% cap.

8.      Shopping Center in Oklahoma City, OK: 204,082 SF shopping center with I-240 frontage.  Anchored by 29,424 SF Dollar Tree, 10,500 SF Aaron Rentals, 16,000 SF Hancock Fabrics. 99% leased to 22 national/regional/local tenants with 1 small vacant unit.  NOI $1.41M. $15.755M. 8.95% cap.

9.      Office building in Clovis, CA: 8114 SF bank-owned class A office building.  60% leased to 2 tenants with 2 small vacant units.  Proforma NOI $94K/yr.  Price reduced to $750K. 12.6% cap.

© Transmercial 2011.

03-01: KFC, Shopping center, Amscot, Wendy's. Apartments for sale

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.  Underlined phrases if any indicate (safe) hyperlink that you can click for more info.   

AHI: Avg. Household Income.  National average is about $50+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.      KFC in Ormond Beach, FL: 2836 SF restaurant built in 1990 on .89 acre corner lot in Daytona Beach metro.  New 20 yrs NNN lease with no landlord obligations from an operator with 197 locations.  NOI $67K/yr. $926K.  7.25% cap.  Store with $900K in sales (low 7.5% rent to income ratio).

2.      Shopping Center in Irving, TX: 27,498 SF retail center on 3.87 acres lot plus 3 outparcels (valued at $2.7M)  right off I-635 exit and near Dallas-Fort Worth Airport.  High income area. 77% leased.  Proforma NOI $630K/yr. $7M. 9% pro forma cap.   Note: The shopping center alone w/o the 3 parcels is $4.3M.

3.      Amscot in Rockledge, FL: 2700 SF single-tenant retail center on 1 acre lot near Cape Canaveral.  100% NNN leased to Amscot Financial Services, a regional tenant till 2015.  NOI $92K/yr. with 3% annual rent bump.  $1.074M. 8.54% cap.

4.      Shopping Center in Hesperia, CA: 53,259 SF shopping center built in 2008 on over 6 acres corner lot in high growth area. Anchored by 14,000 SF Fresh & Easy market, and 7500 SF Davita Dialysis.  92% NNN leased.  Pro forma NOI $1.07M. $14.315M. 7.5% cap.

5.      Strip Center in Albuquerque, NM: 7934 SF strip center on ¾ ac lot.  100% NNN leased to 3 tenants.  NOI $101K/yr.  $1.266M. 8% cap.

6.      Apartments in Mesa, AZ: 96-unit apartments with 80 2-BR units in Phoenix metro.  Amenities include swimming pool and club house.  85% occupied.  NOI $208K/yr. $2.45M. 8.5% cap.

7.      Short sale Financial Center in Scottsdale, AZ: 29,530 SF 2-story office building on 2.5 aces lot in affluent Phoenix metro (AHI $132K/yr).  34% occupied.  Pro forma NOI $252K/yr.  $2.8M. 9% cap.

8.      Retail Center in Lakeside, CA: 9600 SF retail center in San Diego metro.  100% leased.  NOI $145K/yr. $1.75M. 8.3% cap.

9.      Shopping Center in Lexington, KY: 13,900 SF retail center adjacent to Lowe’s and Wal-Mart in growing area.  100% NNN leased to 6 tenants.  NOI $287K/yr. $3.591M. 8% cap.

10.   Wendy’s in Cypress, TX: 3397 SF restaurant built in 2004 on .97 ac outparcel to Kroger Supermarket in booming middle class Houston suburbs. Store with strong sales of $1.44M. New 20 yrs NNN lease. NOI $112K/yr. $1.425M. 7.88% cap.

© Transmercial 2011.

02-28: Rite Aid, Shopping Centers, Family Dollar, Childtime, Buffalo Wild Wings for sale

1. Rite Aid in Douglasville, GA: 11,275 SF drug store in growing middle class Atlanta metro.  New 20 yrs NNN lease w/ no landlord responsibilities.  NOI $255K/yr. with 10% rent bump every 10 yrs.  $2.95M.  8.65% cap.  Store with strong sales of over $10+M/yr.  Low rent to income ratio of 2.5% (highly profitable location). 
2. Lender-owned Shopping Center in Gilbert, AZ: 49,415 SF class-A multi-tenant shopping center built in 2009 on 7.52 acres corner lot in high growth (73% since 2000), high income (AHI $97K/yr) Phoenix suburbs.  16% occupied.  Well below replacement cost: $5.925M. 
3. Family Dollar in Lithia Springs, GA: 8000 SF all brick single-tenant retail center under construction next to Rite Aid in growing middle class Atlanta suburbs.  New 10 yrs NNN- corp lease.  NOI $132K/yr. $1.6M. 8.25% cap. 
4. Office Building in Warner Robins, GA: 38,969 SF office building close to Robins Air Force Base in a  growing city.  100% leased.  NOI $454K/yr. $4.39M. 10.34% cap. 
5. Childtime Learning Center in Naperville, IL: 7893 SF childcare center in fast growing and affluent Chicago suburbs (AHI $120K/yr).  100% NNN corp lease with 4 yrs remaining to a national childcare provider.  NOI $149K/yr.  $1.5M. 10% cap. 
6. Shopping Center in Fresno, CA: 103,411 SF multi-tenant shopping center anchored by Burlington Coat Factory and adjacent to Target Supercenter and Smart & Final.  Easy access to hwy 41. 98% leased with 1 small vacant unit.  NOI $890K/yr. $11.125M. 8% cap. 
7. Shopping Center in Fayetteville, NC: 66,890 SF shopping center on 12 acres lot on a major artery.  Anchored by Food Lion Grocery, CVS and Family Dollar.  100% leased.  NOI $562K/yr. $6.25M. 9% cap. 
8. Buffalo Wild Wings in Weslaco, TX: 7286 SF restaurant on an outparcel to a shopping center anchored by Ross and Beall’s in a  growing McAllen metro.  New 15 yrs corp NNN lease.  NOI $247K/yr with 10% rent bump every 5 yrs.  $2.913M. 8.5% cap. 
9. Ocean view Apartments in Lynn, MA: 51-unit 4-building apartments with ocean views  North of Boston.  100% occupied. NOI $309K/yr. $3.095M. 10% cap.

© Transmercial 2011.

02-25: Bevmo!, Childtime, 24-hr Fitness, Shopping Center, fitness center, Medical Office for sale

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.  Underlined phrases if any indicate (safe) hyperlink that you can click for more info.          

AHI: Avg. Household Income.  National average is about $50+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.      Bevmo! in Fairfield, CA: 8996 SF Beverage & More! Liquor & Wine Store renovated in 2008.  In high income area near I-80 with long term NNN lease to a chin with 110 stores in CA & AZ.  NOI $207K/yr with 12% rent bump every 5 yrs.  $3.18M. 6.5% cap.

2.      Childtime Learning Center in Manassas, VA: 8854 SF childcare center in growing upper middle class Washington DC suburbs. 100% NNN leased to a national childcare provider with 6 yrs remaining.  NOI $168K/yr.  $1.765M. 9.51% cap.

3.      24 Hr Fitness in Murray, UT: 35,000 SF fitness center on 2.21 acres lot as part of a shopping center with 2 other anchored tenants: Big Lot! and Fresh Market. High income Salt Lake city metro.  20 yrs NNN- lease till 2024. NOI $670K/yr. $8.38M. 8% cap.

4.      Shopping Center in Long Beach, CA: 34,647 SF shopping center in high income area.  100% leased to 10 tenants with low rent.  NOI $497K/yr. $7.37M.  6.75% cap.  Buyer to assume $3.77M loan at low 5.19% interest rate.

5.      Shopping Center in Fairview Heights, IL: 59,398 SF shopping center built in 2009 on 5.9 acres lot adjacent to 140-store St. Clair Square Regional Mall in St Louis suburbs.  Anchored by Joann Fabrics and Party City. 100% NNN leased.  NOI $625K/yr. $7.68M. 8.15% cap.

6.      Trophy Condo Tower in North Hollywood, CA: 33-unit 25,961 SF condo tower built in 2006 in upper middle class area.  Gross income $561K/yr. $6.9M.

7.      Strip Center in Chesterfield, MO: 13,558 SF class-A strip center built in 2005 on 2 acres corner lot in affluent (AHI $178K/yr) St Louis suburbs.  NOI $247K/yr. $2.96M. 8.37% cap.

8.      Fitness Center in Blue Springs, MO: 26,000 SF fitness center on 2 acres lot in middle class Kansas metro with I-70 visibility.  100% NNN lease with 9 yrs remaining.  NOI $116K/yr. $1.21M. 9.6% cap.

9.      Medical Office Building in Clarksville, IN: 10,733 SF established medical office building on 1.09 acres lot in Louisville metro.  100% leased to 5 medical tenants.  NOI $140K/yr. $1.225M. 11.5% cap.

10.   Retail center in Hebron, TX: 14,176 SF retail center built in 2008 on 1.55 acres lot in fast growing (247% since 2000) and affluent (AHI $168K/yr in 1 mile) Dallas suburbs.  83% leased.  NOI $224K/yr. $2.4M. 9.34% cap.

© Transmercial 2011.

02-24: Shopping centers, Dialysis center, Apartments, Walgreens, Sonic, Hooters, CBA for sale

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties on the market today.  Underlined phrases if any indicate (safe) hyperlink that you can click for more info.   

AHI: Avg. Household Income.  National average is about $50+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 San Diego, CA: 32,494 SF shopping center on 3.8 acres lot next to I-805 exit.  100% NNN leased to 21 tenants including.  NOI $773K/yr. $10.18M. 7.6% cap.

2.      RAI Dialysis Center in Springfield, IL: 6567 SF dialysis center built in 2007 on .65 acre lot. 10 yrs NNN- corp lease with 6 yrs remaining to Renal Advantage, Inc. with 260 centers.  NOI $127K/yr with rare 4% annual rent bump.  $1.49M. 8.5% cap.

3.      Apartments in Seabrook, TX: 276-unit 3-story apartments built in 1984 on 12.33 acres lot in the upper middle-class Clear Lake area (AHI $98K/yr) in Houston suburbs.  89% occupied. Pro forma NOI $1.217M/yr.  $12.1M. 9.7% cap.

4.      Walgreens in Spokane, WA: 14,490 SF drug store built in 2001 on 1.35 acres lot at a signalized intersection.  25 yrs NNN lease with 16 yrs remaining.  NOI $415K/yr. $5.75M. 7.22% cap.

5.      Office building in Orange Park, FL: 26,842 SF office building on 2.09 acres lot in campus of Orange Park medical center with 500 physicians in Jacksonville suburbs. 72% occupied.  Pro forma NOI $293K/yr.  $3.25M.  9.04% cap.

6.      Sonic Ground lease in Bonney Lake, WA: 2961 SF Sonic restaurant built in 2009 on .68 ac outparcel to Lowe’s in Seattle suburbs.  Surrounding Retailers Include Wal-Mart, Target, The Home Depot, Marshalls, and Albertsons. 20 yrs absolute NNN ground lease (land is for sale).  NOI $90K/yr. $1.335M. 6.74% cap.

7.      Medical office building in Huntington Beach, CA: 55,693 SF medical office building with visibility from I-405 in high income area.  78% occupied. Current NOI $706K/yr. $9.5M. 7.45% cap.  Upside potential when fully leased.

8.      Hooters in Phoenix, AZ: 6207 SF restaurant on 1.2 acres lot in front of Desert Sky Mall.  20 yrs NNN lease. NOI $150K/yr. $2.048M. 7.25% cap.

9.      Christian Brother Automotive in Murphy, TX: 4921 SF automotive service center built in 2010 on .82 ac lot in fast growing (100% since 2000) and affluent (AHI $110K/yr) Dallas suburbs.  20 yrs NNN corp lease from a growing regional tenant. NOI $159K/yr with 1.5% annual rent bump.$1.81M. 8.5% cap.

© Transmercial 2011.