10-20: Smart & Final, Dollar General, Ramano's, CVS, Walgreens, SSA, MOB

Welcome new investors.  Transmercial is the only company in the US 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.  Smart & Final Grocery in Delano, CA: 33,200 SF grocery store on 3.37 ac lot in a growing San Joaquin Valley town.  New 20 yrs NNN corp lease to Smart & Final with 250 stores.  NOI $300K/yr with 7.5% rent bumps every 5 yrs. $5M. 6% cap.
2. Shopping Center in Casselberry, FL: 88,846 SF very well-maintained shopping center on 10 ac lot in Orlando metro.  Anchored by Save A Lot, a grocery chain with over 1300 locations and over $4B in sales.  88% leased.  NOI $465K/yr.  $6M. 7.75% cap.
3. Dollar General Market in Bakersfield, CA:  18,827 SF completed renovated DG market on 2.19 ac lot.  New 15 yrs NNN- lease.  NOI $321K/yr. with 10% rent bump 2023.  $4.851M. 6.77% cap.  Buyer to assume $3M loan.
4. Office Building in North Canton, OH: 18,288 SF 2-story brick office building completed in 1995 on 2.6 ac lot. 100% leased to multiple tenants.  NOI $178K/yr. $1.975M. 9% cap.
5. Romano's Macaroni Grill Restaurant in Goodyear, AZ: 6810 SF restaurant built in 2002  on 1.94 ac lot in high growth, high income (AHI $90K/yr in 1 mile) Phoenix metro. 100% absolute NNN to Romano's Macaroni Grill, a chain with over 300 locations and owned by Ignite Restaurant Group, Inc. (NASDAQ: IRG). NOI $220K/yr with 10% rent bumps every 5yrs.  $3.154M. 7% cap.
6. Strip Center in Broomfield, CO: 7279 SF multi-tenant strip center built in 2001 in high income Denver metro.  Shadow anchored by Super Walmart and 1.5M SF Flatiron Crossing mall.  NOI $119K/yr. $1.7M. 7.04% cap.
7. CVS in Las Vegas, NV: 11,987 SF drug store built in 2003 with double drive thru on a  corner lot in high growth and high income area.  25 yrs NNN with 15 yrs left.  NOI $346K/yr. $5.774M. 6% cap.
8. SSA Office Building in Antioch, CA: 9600 SF single-tenant office building constructed in 2013.  15 yrs leased to Social Security Administration (SSA, US Federal Government with Aaa credit rating). SSA spent $850K in tenant improvements.  NOI $198K/yr. $3.167M. 6.25% cap.
9. Medical Office Building in  Florence, KY: 2 medical office building consists of 10 suites and 37,162 SF total, on 3.76 ac lot in Cincinnati suburbs.  Across from just-completed 42,000 SF University of Cincinnati Outpatient center.  91% NNN leased to mostly medical tenants including Kumar Dialysis Clinic.  NOI $449K/yr. $5.345M. 8.4% cap.
10. Walgreens in Houston, TX: 14,490 SF drug store on 1.6 ac lot.  100% NNN- with 7 yrs left.  NOI $363K/yr. $5.85M. 6.5% cap.

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