12-09: Wendy's, Jack in the Box, Taco Bell, Family Dollar, Big Lots, Tire Kingdom, 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 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. Wendy’s in Cincinnati, OH: 2887 SF well maintained fast food restaurant on 1.30 ac lot at a signalized intersection of major thoroughfares. Excellent ingress/egress. Close to Tri County Mall and I-275. 100% NNN corp lease with 10+ yrs left. NOI $42K/yr. $763K. 5.50% cap.
2. Jack in the Box in Porterville, CA: 3055 SF attractive franchised Jack in the Box completed in 2001 along main retail corridor in San Joaquin Valley. On an off/on ramp of Hwy-65. 100% NNN ground leased. NOI $69K/yr. $1.25M. 5.57% cap.
3. Short-sale Retail Center in Bakersfield, CA: 22,257 SF 10-unit well kept retail center on 1.78 ac lot at a signalized intersection in Downtown area. Close to 414-bed Bakersfield Memorial Hospital and Golden State Mall. 50% leased to 6 tenants.  Pro forma NOI $201K/yr. $2.2M. 9.15% cap.
4. Shopping Center in Redding, CA: 44.246 SF attractive shopping center remodeled in 1997 on 3+ ac lot at a major intersection in a growing middle class city in Northern California. 88% leased. NOI $344K/yr. $3.88M. 8.80% cap. Buyer to assume $2.661M loan at 6.375% interest rate.
5. Taco Bell in Huntsville, AL: 2460 SF franchised drive-thru fast food restaurant built in 2002 on 1 ac lot next to Hwy-1. Across form Walmart. 20 yrs absolute NNN lease with 12 yrs left to strong franchisee with 130+ units. NOI $97K/yr with 1% annual rent increases. $1.465M. 6.65% cap.
6. Family Dollar (S&P BBB-) in Indian Orchard, MA: 9180 SF brand new Family Dollar store in Springfield suburbs. New 10 yrs NNN- lease. NOI $139K/yr. $1.994M. 7% cap.
7. Big Lots in Chico, CA: 24,370 SF retail building in growing area Northern California. Close to Hwy-99. Shadow-anchored by Target, Toys R Us and BevMo. Across from Chico Mall and near Costco and Walmart. 100% NNN lease with 5 yrs left. NOI $178K/yr. $2.75M. 6.50% cap.
8. Tire Kingdom in Tampa, FL: 5904 SF well kept Tire Kingdom on .64 ac corner lot along major retail artery. Tenant has been at this location since 1984. 100% absolute NNN lease with 5 yrs left. NOI $91K/yr. $1.31M. 7% cap.
9. MOB in Orlando, FL: 6550 Class-A medical office building completed in 2005 on 1+ ac corner lot in fast growing area. Across from Gatorland, a 110-acre theme park. NOI $144K/yr. $2.063M. 7% cap.

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