08-29: Aaron Rent, Auctioned mall, Apartments, Medical office building, Walmart neighborhood Market, Smokey Bones

Welcome new investors.  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 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 $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing brokers.  If so, please cooperate.

·         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. Aaron Rent in Beaumont, TX: 7488 SF retail center on ¾ ac outparcel to Lowes & across from Walmart in high income area.  .  New 10 yrs NNN corp lease to Aaron Rent (NYSE: AAN).  NOI $99K/yr with 10% rent bump every 5 yrs.  $1.32M. 7.5% cap. 
2. BK Auctioned Mall in Bakersfield, CA: 177,954 mall built in 1988 on 17.8 acres lot with visibility from hwy 178.  Surrounded by Target, Walmart, Home Depot, Petsmart, Office Max.  Auction per bankruptcy court order.  Minimum bid $4.1M. 
3. Apartments in Fort Worth, TX: 54-unit 2-story apartment on 1.29 acres lot in high income area (AHI $87K/yr in 1 mile radius).  85% occupied.  NOI $108K/yr.  $1.03M. 10.56% cap. Less than $20K/unit. 
4. Shopping Center in Oklahoma City, OK: 38,944 SF matured 15-unit shopping center on over 4 ac lot in high income area.  Anchored by a CVS Pharmacy (not free standing). 10$3.526M. 91% leased. Current NOI $317K/yr $3526M.  9% cap. 
5. Medical Office Building in Jacksonville, FL: 7474 SF 2-unit medical office building developed in 1998 on 1.64 acres lot in growing and high income area.  100% NNN- to 2 medical tenants: Baptist Primary Care and St. Vincent’s Primary Care.  NOI $153K/yr. $1.857M. 8.2% cap. 
6. Walmart Neighborhood Market in Overland Park, KS: 43,289 SF retail center on 8 acres corner lot in Kansas City suburbs.  100% NNN ground lease (land is for sale, tenant owns the building) with 5 yrs remaining.  NOI $195K/yr. $3.906M. 5% cap. 
7. Smokey Bones restaurant in West Chester, OH: 7800 SF BBQ Grill restaurant built in 2004 on 2.47 acres lot near I-75 in high income Cincinnati suburbs.  100% absolute NNN lease with 15 yrs left.  NOI $178K/yr. with annual rent bump.  $2.1M. 8.5% cap.

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