12-05: Retail centers, Walgreens, Medical Office Building

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.  Strip Center in Norcross, GA: 10,339 SF multi-tenant strip center on 7.26 acres lot in Atlanta suburbs. 100% NNN lease.  NOI $223K/yr. $2.9M. 7.89% cap.  Property has room for 2 identical centers.  Buyer to assume non-recourse loan at 5.3% interest. 
2. Retail Center in Clovis, CA: 3784 SF retail center on .71 ac outparcel to a shopping center anchored by Orchard Supply Hardware on a high-traffic artery.  100% NNN leased to 2 tenants: Starbucks (till 2018) and Parrot Cellular (with 80 locations).  NOI $97K/yr.  $1.398M. 7% cap. 
3. Walgreens in Loveland, CO: 14,000 SF new Walgreens on 2 ac lot 20 minutes North of Denver downtown.  25 yrs  NNN lease.  NOI $400K/yr. $6M. 6.4% cap. 
4. Walgreens in Mesa, AZ: 15,525 SF Walgreens on 1.95 acres corner lot in Phoenix metro.  100% NNN- lease with 4 yrs left.  NOI $231K/yr.  $2.89M. 8% cap. 
5. Medical Office Building in West Des Moines, IA: 22,849 SF 7-unit medical office building on 3.21 ac lot next to I-235 exit in affluent area (AHI $103K/yr).  86% leased to 6 tenants.  NOI $298K/yr. $3.14M. 9.5% cap. 
6. Retail Center in Billings, MT: 7000 SF retail 1-yr old center on ¾ ac outparcel to Costco & Shopko.  Close to Wal-mart, Best buy, Home Depot, Lowe’s, Ross, Michaels, and more.  100% NNN leased to 2 national tenants: Men’s Wearhouse and Qdoba Mexican Grill, both with 10 yr leases.  NOI $167K/yr.  $2.237M. 7.5% cap. 
7. Medical Office Building in Los Angeles, CA: 31,787 SF 3-story medical office building completed in 1996 in densely populated area with almost 600K residents within 3 miles.  94% leased to 13 tenants including radiology, surgery center, pediatrics, internal medicine, dental, pharmacy, oriental medicine, chiropractor and cell towers.  NOI $582K/yr. $8.5M. 6.84% cap.

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