06-03: Hooters Restaurant Bar & Casino, CVS, Orchard Supply, MOB

Welcome new investors.  Transmercial is the only company that offers this list of best properties between $700K to $20M in 50 states.  These properties are selected from 300-400 daily listings on loopnet, CBRE, M&M, SVN, and various other sources.   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 for selection criteria.  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. CVS in Orlando, FL: 10,767 SF drive-thru drug store built in 1996 on .86 ac lot at a signalized location with good ingress/egress. Close to major power centers, Orlando Fashion Square and I-4. 20 yrs NNN- lease with 3+ yrs left. NOI $220K/yr. $2.846M. 7.75% cap. Strong & increasing sales revenue of $6.48M/yr in 2012 means tenant likely to renew lease.
2. Hooters & Casino in Spokane Valley, WA: 13,619 SF Hooters Restaurant Bar & Casino built in 2005 on 1.89 ac lot in growing area. Along I-90. Close to 1,580,678 SF Spokane Valley Mall. 100% absolute NNN lease with 5 yrs left. NOI $343K/yr. $4.4M. 7.80% cap.
3. Retail Center in Woonsocket, RI: 10,340 SF retail center built in 2004 on 2.45 ac lot. All units face main corridor. Across from grocery anchored center. 100% leased to 4 tenants. NOI $144K/yr. $1.8M. 8% cap.
4. Orchard Supply Hardware in Citrus Heights, CA: 43,579 SF well maintained single tenant retail building renovated in 2005 on 3.75 ac lot in growing Sacramento suburbs. Close to Sunrise Mall. 15 yrs NNN- corp lease with 7 left. NOI $546K/yr. $7.531M. 7.25% cap.
5. Shopping Center in Broken Arrow, OK: 28,450 SF shopping center on .86 ac lot in Tulsa suburbs. Major tenants include: CLS group, Bill & Ruth’s, Little Caesar’s and Eyemart Express. 85% leased. NOI 192K/yr. $2.2M. 8.75% cap.
6. Office Building in Mokena, IL: 12,500 SF Class-A office building on 1.75 ac lot in high income (AI $98K/yr in 1 mile) Chicago metro. 100% NNN leased to multiple tenants. NOI $198K/yr. $2.645M. 7.50% cap.
7. Shopping Center in Eagan, MN: 23,332 SF attractive shopping center built in 2005 in Minneapolis suburbs. Growing and affluent area with an AHI of $154K/yr within 1 mile. 89% NNN leased. 8.12% cap. Price/NOI not disclosed.
8. MOB in Scottsdale, AZ: 8070 SF Class-B medical office building on .65 ac lot in affluent (AHI $113K/yr) Phoenix suburbs. 86% leased to multiple tenants. NOI $114K/yr. $1.525M. 7.50% cap. Upside potential.
9. Neighborhood Center in Houston, TX: 50,204 SF consisting of two retail centers on 5.82 ac lot along major retail corridor. Next to new Walmart. 100% NNN leased. NOI $810K/yr. $9M. 9% cap.
10. Retail Center in Grand Prairie, TX: 10,000 SF retail center built in 2007 on 1.32 ac lot anchored by Starbucks and T Mobile in fast growing and high income Fort Worth/Dallas suburbs. Across from power center anchored by Ross Dress for Less, Grand Prairie Urgent Care, Marshalls, Target and Home Depot. $2.95M. NOI/Cap not provided.

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