Advisory: If you acquire a property in which the tenant has a good credit rating, the interest rate on the loan will be lower. Attached please find credit ratings for various tenants.
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. Walgreen’s in Indianapolis, IN: 15,120 SF single tenant retail building on 2.88 ac lot at a busy signalized intersection. 100% NNN- corp lease with 9 yrs remaining. NOI $305K/yr. $4.066M. 7.5% Cap.
2. Galaxie Corporate Center in Apple Valley, MN: 52,242 SF 3-story multi-tenant office building constructed in 1999 across from City Hall and minutes from MSP Airport in well off (AHI $94K/yr in 2-mi radius) St. Paul suburbs. 87% leased. NOI $525K/yr. $6M. 8.75% pro forma Cap.
3. Shopping Center in Lewisville, TX: 32,180 SF well-maintained shopping center at hard corner location along Hwy-121 in growing Dallas metro. Anchored by Denton County Services and Adecco, a leading provider of HR solutions. 89% leased. NOI $290K/yr. $3.232M. 9% Actual Cap. Upside Potential.
4. Strip Center in Plano, TX: 21000 SF newly constructed strip center along main retail corridor in affluent Dallas suburbs (AHI $129K/yr in 1 mile). 82% NNN leased with great tenants mix. NOI $357K/yr. $4.472M. 8% Actual Cap. Upside potential to 10.32% cap when fully leased.
5. Retail Center in Orlando, FL: 6400 SF retail building on .84 ac lot in front of Sam’s Club. 100% NNN leased to Amscot, Quizno’s and Papa John’s Pizza. NOI $240K/yr. $2.915M. 8.25% Cap.
6. Strip Center in Deer Park, NY: 8000 SF well-maintained strip center near Tanger Outlet in high income NY metro. NOI k$208K/yr. $2.980M. 7% Cap.
7. Carl’s Jr. in Anaheim, CA: 3516 SF fast-food restaurant built in 1991 on ¼ ac lot close to brand-new Kaiser Hospital at busy corner location. Easy access to hwy 91. 100% NNN corp lease till 2016 with CPI annual rent increases. NOI $197K/yr. $2.625M. 7.5% Cap.
8. Retail Center in Houston, TX: 10,306 SF well-maintained retail center built in 2000 on .75 ac corner pad near Memorial Hemann Southwest Hospital at intersection of Hwy-59. 100% lease to 4 tenants. NOI $165K/yr. $1.940M. 8.5% Cap.
9. Strip Center in Stockton, CA: 7293 SF strip center built in 2008 on 1.32 ac at a signalized hard corner in front of Costco and Walgreen’s .100% NNN leased to 4 strong tenants: Krispy Crème, AT&T, Mr Pickel Sandwiches, and Western Dental. NOI $221K/yr. $2.850M. 7.75% Cap.
10. Office Depot in Charlotte, NC: 17,500 SF single-tenant retail building constructed in 2005 with excellent visibility near Fwy-485. 100% NNN corp lease. NOI $241K/yr. $2.670M. 9.75% Cap.
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