03-20: Fresenius; A Good Time Out; Golden Corral; La Petite Academy; MOB

• 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. MOB in Debary, FL: 24,000 SF 12-suites medical office building constructed in 2009 on over 4 ac lot in Orlando suburbs. Major tenants include: Family Medicine, West Orange Nephrology, Integrative Physical Med and Kid MD Pediatrics. Close to175-bed Florida Hospital Fish Memorial and I-4. 100% leased. NOI $576K/yr. $7.68M. 7.50% cap.
2. Fresenius Medical Care in Wyoming, MI: 14,879 SF attractive built-to-suit dialysis center constructed in 1998 on 2.60 ac lot in stable Grand Rapids suburbs. With easy access to Hwy-131. 100% absolute NNN lease with 3-yrs left to a national tenant. NOI $270K/yr. $2.92M. 9.25% cap.
3. Mixed-use in Jacksonville, FL: 23,808 SF well maintained office/ retail center on 3.21 ac lot. Across from Kmart and adjacent to Winn-Dixie and Publix Supermarket centers. 100% leased with good tenant mix. NOI $220K/yr. $1.95M. 11.32% cap.
4. Strip Center in Hilliard, OH: 3,832 SF eye-catching strip center completed in 2006 in high income Columbus metro. 100% NNN leased to Cuzzin's Yogurt, Mod Salon, Jet’s Pizza and Elite Vapor. NOI $119K/yr. $1.442M. 8.25% cap.
5. A Good Time Out in Bakersfield, CA: 5400 SF highly rated on Yelp day care center constructed in 2005 on .55 ac lot. Adjacent to Endeavour Elementary School and close to major shopping centers. 100% NNN leased. NOI $100K/yr. $1.4M. 7.17% cap.
6. Department of Public Health in Bellwood, IL: 13,655 SF well maintained office building on .75 ac lot in Chicago suburbs. Tenant has been at this location of 20-yrs. 100% lease with over 3-yrs left to Illinois Department of Public Health with A- credit rating. NOI $122K/yr. $1.257M. 9.74% cap.
7. MOB in Snellville, GA: 22,606 SF value-add Class-B medical office building on 2.24 ac lot in upper middle-class Atlanta suburbs. Close to Eastside Medical Center. 50% NNN leased with 5-yrs left to Northside Hospital, a Metro Atlanta Healthcare System . Actual NOI $186K/yr. $3.1M. 6% actual cap.
8. Golden Corral in Indianapolis, IN: 10,003 SF Golden Corral buffet restaurant built in 1999 on 1.92 ac outparcel to Washington Square Mall.  100% NNN lease with 14-yrs left to a strong franchisee with 13 units.  NOI $185K/yr with 10% rent bumps every 5 yrs. Store with strong sales. $2.56M. 7.25% cap.
9. Retail Building in Chandler, AZ: 9478 SF well maintained retail center on over 1 ac lot at a hard corner location in Phoenix suburbs. Across from Walmart and Fry’s Food center. Close to East Valley Mall. 100% NNN leased. NOI $153K/yr. $1.85M. 8.30% cap.
10. La Petite Academy in Albuquerque, NM: 8900 SF day care center constructed in 1994 on .89 ac lot in a fast growing and affluent (AHI $95K/yr) neighborhood. 100% absolute NNN corp lease with 8-yrs left. NOI $171K/yr with annual rent bumps. $2.14M. 8% cap.

            (c) Transmercial 2015