03-13: Carino's Italian Grill, Firestone Tire & Rubber, REO'ed Shopping Center

Welcome new investors.  Transmercial is the only company that offers this list of best properties between $700K to $20M in 50 states.  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 on the market).  Underlined names, if any, indicate safe hyperlinks that you can click for more info. For a full marketing brochure, please reply and specify the property number. 

Below are the most commonly used acronyms:

• AHI: Avg. Household Income.  National average is about $55+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. Retail Center in Folsom, CA: 4200 SF attractive retail center outparcel to Fresh & Easy in affluent (AHI $143K/yr in 1 mile) Sacramento suburbs. Across from Raley’s grocery center. NNN leased. NOI $127K/yr. $1.35M. 9.40% cap.
2. Retail Center in Goodyear, AZ: 13,868-SF property consisting of two retail buildings constructed in 2009 on 1.68 ac lot on a major corridor in fast growing and high income Phoenix suburbs. Across from Estrella Mountain Community College. 84% leased. NOI $213K/yr. $2.7M. 7.90% cap.
3. Strip Center in Chandler, AZ: 5372 SF recently constructed strip center on .40 ac outparcel to Bashas’ grocery & Petco center in Phoenix suburbs. Close to 1,300,000 SF Chandler Fashion Center with more than 180 stores. 100% NNN leased to The Hungry Monk and Driving MBA, a local driver training facility. NOI $130K/yr. $1.7M. 7.70% cap.
4. Restaurant in Palm Beach Gardens, FL: 4520 SF well maintained restaurant built in 2004 on over 1 ac lot on a major retail artery. Close to I-95. Across from Costco, Lowe’s, Target and near 264,667 SF Northlake Commons power center with Home Depot and Ross Dress For Less. 100% NNN leased with 8 yrs left to Quarterdeck Seafood Bar & Grill. NOI $100K/yr. $1.2M. 8% cap.
5. Retail Center in Tucson, AZ: 15,332 SF retail center built in 2006 on a main thoroughfare. Next to Walgreen’s and close to I-10.  NOI $324K/yr. $4.05M. 8% cap.
6. Carino’s Italian Grill in Longmont, CO: 6938 SF Italian restaurant on 1 ac lot in growing & affluent Denver’s suburbs (AHI $104K/yr).  Across from Twin Peaks Mall.  100% absolute NNN corp lease with 4 yrs left to Carino’s Italian Grill, a regional chain.  NOI $152K/yr. Price reduced to $1.521M. 10% cap.
7. Shopping Center in Brownstown Township, MI: 36,168 SF attractive shopping center on 4.65 ac lot in upper middle class Detroit metro.  Anchored by CVS pharmacy. Across from Kroger center and near Henry Ford Health Center. 100% NNN leased to excellent tenants mix. NOI $412K/yr. $4.714M. 8.75% cap.
8. REO’ed Shopping Center in Rowlett, TX: 45,527 SF well-maintained shopping center on 5.75 ac lot at a signalized location & in high income Dallas suburbs (AHI $83K/yr in 1 mile). Shadow anchored by Albertsons grocery. Near 112-bed Lake Pointe Medical Center. 81% leased. NOI $509K/yr. $7.025M. 7.25% cap. Huge upside potential when fully leased.
9. Firestone Tire & Rubber in Lisle, IL: 8800 SF recently improved auto care center on 1.40 ac lot I affluent (AHI $113K/yr) Chicago metro. Close to I-88. 100% NNN corp long lease. NOI $123K/yr. $1.907M. 6.50% cap.
10. Retail Center in Henderson, NV: 8977 SF retail center built in 2004 on nearly 1 ac lot anchored by Verizon Wireless. Across from Galleria at Sunset Mall and near I-515. 100% leased. NOI $224K/yr. $3.2M. 7% cap.

© Transmercial 2013