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 between $700K-$20M on the market today (please advise if you are interested in properties above $US 20M). Underlined phrases if any indicate safe hyperlinks 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 Kentwood, MI: 31,002 SF shopping center on busy thoroughfare in stable Grand Rapids suburbs. Shadow anchored by Horrock’s Farm Market. 71% leased. Actual NOI $162K/yr. $1.551M. 10.50% Cap. Upside potential when fully leased.
2. Sports Authority in Moreno Valley, CA: 40,000 SF retail building constructed in 2008 adjacent to Moreno Valley Mall next to I-60. Top performing location. 100% NNN lease with 9 yrs remaining. NOI $670K/yr. $7.98M. 8.40% Cap.
3. Apartments in Phoenix, AZ: 171-unit bank-owned value-added apartments built in 1985 on 4.75 acres lot. Amenities include a swimming pool and spa, laundry facilities, barbecue and picnic areas throughout the community, and covered parking. Last sold in 2005 for $10+M 9with 21 more units). Pro forma NOI $272K/yr. $3.35M. Less than $20K/unit.
4. Burger King in Louisville, KY: 3583 SF fast-food restaurant on over 1 ac lot in middle-class area (AHI $82K/yr within 2 miles). 100% absolute NNN lease by Carrols Corp (NASDAG TAST), the largest BK franchisee. NOI $89K/yr. $1.115M. 8% Cap.
5. Office Building in Rancho Cordova, CA: 7361 SF multi-tenant office building with private patio with great access to Hwy-50. 100% leased. NOI $80K/yr. $995K. 8.10% Cap.
6. Shopping Center in East Brunswick, NJ: 22,255 SF eight-tenant center at a busy signalized intersection in high income New York suburbs. 100% leased. NOI $376K/yr. $4.7M. 8% Cap.
7. CVS in Roseville, CA: 15,791 SF free-standing drugstore built in 2009 in fast growing (118.65%) & well-off (AHI $90K/yr within 2 miles) Sacramento metro. 18-yrs remaining on original NNN lease. NOI $663K/year with rare 15% rent bump in 2019 and 10% in 2024. $8.29M. 8% Cap.
8. Advance Auto Parts in Charlotte, NC: 7000 SF retail center on 1.25 ac lot. 100% NNN lease with7 yrs remaining. NOI $84K/yr. $933K. 9% Cap.
9. Shopping Center in Houston, TX: 116,064 SF neighborhood center built in 2007-2010 on 23 acres lot next to Beltway 8 in fast growing area (50% since 2000). Shadow anchored by Home Depot. 65% of the spaces leased by 4 anchored tenants: Ross Dress For Less, Staples, Goodwill and Dollar Tree. 90% NNN leased. NOI $1.363M. Suggested price of $17.5M. 7.75% cap.
10. Office Business Park in Arlington, TX: 23,796 SF Class-B multi-tenant office complex close to restaurants/freeways. 100% NNN leased. NOI $196K/yr. $2.95M. 9.50% Cap.
© Transmercial 2011.
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