07-26: REO'ed Retail Center, Office Buildings, Shopping Centers

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 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. Retail Building in Humble, TX: 16,500 SF newly constructed retail building on 1.49 ac lot in growing (400% pop growth since 2000) and affluent (AHI $116K/yr in 1 mile) Houston suburbs.  Part of Park Lakes Landing, an anchored power center. 10 yrs NNN- lease by Goodwill Industries with 9+ yrs left.  NOI $247K/yr with rent increases. $3.094M. 8% cap.
2. Strip Center in Sebastopol, CA: 6711 SF attractive strip center at a hard corner location in Sonoma County. High income area with an AHI of $87K/yr in 3 mile radius. About 7 miles West of Santa Rosa. NOI $82K/yr. $1.095M. 7.50% cap.
3. Distressed Neighborhood Center in Las Vegas, NV: 41,899 SF mature shopping center on 3.69 ac lot with three points of access. All units face major retail corridor. 53% leased to established tenants. NOI $420K/yr. $4.2M. 10% cap. Upside potential. Ordered sold by chapter 7 trustee.
4. Retail Center in Rockford, IL: 11,893 SF 6-unit attractive retail center in growing Rockford suburbs. Close to Cherryvale Mall. NOI $167K/yr. $2.089M. 8% cap.
5. REO’ed Retail Center in Placerville, CA: 18,288 SF attractive bank-owned consisting of two retail buildings completed in 2006 at a signalized intersection across from Walmart in growing city East for Sacramento. 80% NNN leased. Pro forma NOI $252K/yr. $3M. 9.08% pro forma cap.
6. Office Building in Fort Lauderdale, FL: 6220 SF Class-B office building at a signalized intersection. Across from Coral Ridge Mall. High income area. 100% leased. Pro forma NOI $86K/yr. $1.15M. 7% pro forma cap.

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