11-21: Public Storage, Fresh & Easy, Applebees, Shopping Centers, Medical Office Building, Autozone, Walgreens

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 broker.  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.  Public Storage in Los Gatos, CA: rate 191-unit 2-story public storage facility on .54 ac lot in very affluent Silicon Valley suburbs (AHI $180K/yr in 1 mile).  86% leased.  NOI $193K/yr. $2.75M. 7.04% cap. 
2. Fresh & Easy in Calimesa, CA: 14,973 SF Fresh & Easy Neighborhood Market built in 2009 on 1.29 ac lot with I-10 visibility.  20 yrs NNN ground lease till 2029 (land is for sale, tenant owns the building) with no landlord responsibilities.  NOI $165K/yr with 10% rent bump in year 11.  $2.75M. 6% cap. 
3. AppleBee’s in Marietta, GA: 5668 SF AppleBee’s on 1.28 acres lot next to I-75 exit in Atlanta metro.  Completely remodeled in 2011.  New 20 yrs absolute NNN lease. NOI $156K/yr with 1% annual rent bump. $2.184M. 7.15% cap. 
4. Shopping Center in Fort Walton Beach, FL: 93,300 SF shopping center on over 8 acres lot.  Renovated in 2008 with new roof and facade.  Anchored by Big Lots!, Dollar General.  91% leased.  NOI $923K/yr. $9.24M. 10% cap. 
5. Medical Office Building in University Heights, OH: 41,019 SF 3-story medical office building on 2.18 acres lot in high income (AHI $86K/yr) Cleveland suburbs.  80% NNN leased to 20 mostly medical tenants.  Current NOI $325K/yr. $3.6M. 9.04% cap.  Upside potential when fully leased. 
6. Retail Center in San Jose, CA: rare 16,310 SF on 1.5 acres lot close to hwy 101.  100% NNN leased to 7 tenants.  NOI $494K/yr. $6.35M. 7.82% cap.
7.  AutoZone in Indio, CA: 5000 SF AutoZone built in 1995 on .54 ac lot in a growing area in Southern CA.  100% leased with 4 yrs left.  NOI $121K/yr.  $1.616M. 7.5% cap. 
8. Walgreens in Easley, SC: 14,550 SF Walgreens built in 2007 on 1.9 acres lot in high income (AHI $86K/yr) Greenville metro.  25 yrs NNN- lease with 21 yrs remaining.  NOI $360K/yr. $5.413M. 6.65% cap.

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