07-23: Spec's Liquor, NextCare, Denny's, Starbucks Coffee, Apartments

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. Spec’s Liquor in San Antonio, TX: 25,230 SF attractive retail building constructed in 2002 on 2.51 ac lot at a major retail artery in a fast growing and high income area with an AHI of $93K/yr in 1 mile. New 15-yrs NNN lease to Spec's Liquor, a regional tenant with 165 units. NOI $350K/yr with rent bumps every 5-yrs. $5.384M. 6.50% cap.
2. NextCare in Burlington, NC: 3,307 SF Class-B urgent care center on .74 ac outparcel to a shopping center in high income area.  100% absolute NNN lease with 8-yrs left to Nextcare Urgent Care. NOI $82K/yr.  $1.1M. 7.52% cap.
3. Shopping Center in Olathe, KS: 25,596 SF beautiful shopping center on 2.82 ac lot in growing Kansas City suburbs. On an outpad to Southgate Retail Center anchored by Target and Home Depot. Across from Olathe Medical Center and visible from I-35. Close to The Great Mall of the Great Plains. 100% NNN lease with excellent tenant mix. NOI $329K/yr. $4.7M. 7% cap.
4. Apartments in Riverside, CA: 7-units well kept multifamily complex in Riverside County. Close to Riverside Community Hospital, Riverside City College and Hwy-91. 100% occupied. NOI $54K/yr. $725K. 7.50% cap.
5. Denny’s in Buffalo, NY: 6379 SF franchised recently remodeled Denny’s restaurant on 1.20 ac lot adjacent to Buffalo Niagara International Airport. Tenant has been at this location roughly 35-yrs. New 20-yrs absolute NNN lease to strong operator with 38-units. NOI $126K/yr with 10% rent increases every 5-yrs. $2.1M. 6% cap.
6. Office Building in Haverford, PA: 24,750 SF Class-B multi-tenant office building on 1.57 ac lot in affluent (AHI $113K/yr in 3-mile radius) Philadelphia suburbs. Close to Bryn Mawr Hospital. 100% leased. NOI $349K/yr. $4.65M. 7.52% cap.
7. Starbucks Coffee in Overland Park, KS: 1800 SF eye-catching Starbucks Coffee constructed in 2007 on .62 ac lot along busy retail corridor in high income (AHI $94K/yr) Kansas City MSA. Near Hwy-69. 10-yrs NN corp lease with 3-yrs left. NOI $79K/yr. $1.13M. 7.01% cap.
8. Retail Center in Houston, TX: 10,000 SF well kept retail center built in 2003 on .70 ac lot at a hard corner location. 100% leased. NOI $144K/yr. $1.8M. 8% cap.
9. Apartments in Birmingham, MI: 10-untis apartment complex completed in 2004 in affluent (AHI $143K./yr in 1 mile)  Detroit suburbs. NOI $172K/yr. $1.725M. 10% cap.

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