12-06: Advance Auto, IHOP, Jiffy Lube, KFC, Staples, Shopping centers

1. Advance Auto Parts in Pearl, MS: 7000 SF Advance Auto built in 2007 on ¾ ac lot in Jackson metro.  15 yrs NNN corp lease till 2022 with landlord responsible for structure only.  NOI $94K/yr. $1.305M. 7.25% cap. 
2. Neighborhood Center in Crete, IL: 10,200 SF multi-tenant center on 1.25 ac lot in affluent Southern Chicago suburbs (AHI $116K/yr in 1 mile).  100% NNN leases to established tenants.  NOI $130K/yr. $1.37M. 9.52% cap. 
3. IHOP in Pasadena, TX: 4972 SF IHOP restaurant on 1.25 ac lot with frontage on Sam Houston Tollway in upper middle class Houston metro. 20 yrs NNN lease with 18 yrs left to the largest IHOP franchisee with over 250 IHOPs.  NOI $189K/yr with annual rent bump. $2.67M. 7.1% cap. 
4. Jiffy Lube in Peoria, AZ: 2539 SF Jiffy Lube on .59 ac lot in high income Phoenix metro. 100% absolute NNN lease till 2024 to a franchisee with 60 units.  NOI $126K/yr. with 2% annual rent bump. $1.51M. 8.35% cap. 
5. KFC in Stow, OH: 3200 SF newly remodeled KFC in high income (AHI $73K/yr in 1 mile) Akron metro.  20 yrs NNN corp lease to Yum! Brands, Inc.  NOI $78K/yr with 7.5% rent bump every 5 yrs. $950K.  8.25% cap. 
6. Strip Mall in Riverside, CA: 8326 SF strip center on 1.32 ac lot outparcel to a shopping center anchored by Wal-mart, Target, Pier 1 Import, and Petsmart.  Surrounded by JoAnn Fabrics, Petco, Old Navy, Marshalls, World Market, Best Buy and more.  Next to Moreno Fwy exit in high income and fast growing area.  100% NNN leased to 4 national tenants: Payless Shoesource, Verizon Wireless, GameStop, and Subway.  NOI $259K/yr. $3.7M. 7% cap. 
7. Strip Center in Riverside, CA: 8312 SF 5-unit strip center on 1.04 ac lot outparcel to a shopping center anchored by Best Buy, Michaels, Smart & Final grocery.  Across from Target, and Wal-mart in high income and fast growing area.  100% NNN lease.  NOI $182K/yr. $2.5M. 7.3% cap. 
8. Staples in Dallas, TX: 23,942 SF Staples on 1.9 ac lot as the anchored tenant in a shopping center near I-30 with exposure to 227,000 vehicles per day.  15 yrs NNN lease with 4 yrs left.  NOI $305K/yr. $3.7M. 8.25% cap. 
9. Retail Plaza in Bellmore, NY: 5600 SF retail plaza in affluent New York suburbs (AHI $132K/yr).  100% leased.  NOI $168K/yr. $2.1M. 8% cap.

© Transmercial 2011

12-05: Retail centers, Walgreens, Medical Office Building

Welcome new investors.  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 to see how Transmercial selects the following properties among 300-400 properties between $700K-$20M on the market today (please advise if you are interested in properties above $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• AHI: Avg. Household Income.  National average is about $50+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.  Strip Center in Norcross, GA: 10,339 SF multi-tenant strip center on 7.26 acres lot in Atlanta suburbs. 100% NNN lease.  NOI $223K/yr. $2.9M. 7.89% cap.  Property has room for 2 identical centers.  Buyer to assume non-recourse loan at 5.3% interest. 
2. Retail Center in Clovis, CA: 3784 SF retail center on .71 ac outparcel to a shopping center anchored by Orchard Supply Hardware on a high-traffic artery.  100% NNN leased to 2 tenants: Starbucks (till 2018) and Parrot Cellular (with 80 locations).  NOI $97K/yr.  $1.398M. 7% cap. 
3. Walgreens in Loveland, CO: 14,000 SF new Walgreens on 2 ac lot 20 minutes North of Denver downtown.  25 yrs  NNN lease.  NOI $400K/yr. $6M. 6.4% cap. 
4. Walgreens in Mesa, AZ: 15,525 SF Walgreens on 1.95 acres corner lot in Phoenix metro.  100% NNN- lease with 4 yrs left.  NOI $231K/yr.  $2.89M. 8% cap. 
5. Medical Office Building in West Des Moines, IA: 22,849 SF 7-unit medical office building on 3.21 ac lot next to I-235 exit in affluent area (AHI $103K/yr).  86% leased to 6 tenants.  NOI $298K/yr. $3.14M. 9.5% cap. 
6. Retail Center in Billings, MT: 7000 SF retail 1-yr old center on ¾ ac outparcel to Costco & Shopko.  Close to Wal-mart, Best buy, Home Depot, Lowe’s, Ross, Michaels, and more.  100% NNN leased to 2 national tenants: Men’s Wearhouse and Qdoba Mexican Grill, both with 10 yr leases.  NOI $167K/yr.  $2.237M. 7.5% cap. 
7. Medical Office Building in Los Angeles, CA: 31,787 SF 3-story medical office building completed in 1996 in densely populated area with almost 600K residents within 3 miles.  94% leased to 13 tenants including radiology, surgery center, pediatrics, internal medicine, dental, pharmacy, oriental medicine, chiropractor and cell towers.  NOI $582K/yr. $8.5M. 6.84% cap.

© Transmercial 2011

12-02: O'Reilly, Walgreens, Surgery Center, Burger King, JIB, Smart & Final, Del Taco, Car Dealer

1. O’Reilly in Yuba City, CA: 8200 SF O’Reilly auto parts about 30 minutes North of Sacramento.  20 yrs NNN lease with 7 yrs left.  NOI $109K/yr with CPI-based rent bump every 5 yrs.  $1.483M. 7.34% cap. 
2. Walgreens in Yuba City, CA: 25000 SF Walgreens with drive thru.  100% NNN- till 2022.  Tenant has been here since 1970.  NOI $208K/yr. $2.717M. 7.5% cap. 
3. ENT Surgery Center in Columbus, OH: 14,970 SF Eye Nose Throat (ENT Surgery Center on 3.38 acres lot with 6 operating rooms and 23 ENT physicians performing over 6000 procedures/year.  100% NNN leased with 6 yrs left.  NOI $510K/yr. $5.775M. 8.83% cap. 
4. Burger King in Spring City, PA: 2250 SF Burger King on 1 ac lot in Philadelphia suburbs.  100% NNN corp lease till 2020.  NOI $80K/yr. which will go up to $120K/yr in the first option.  $1.18M. 6.77% cap (10.17% cap when tenant exercises option). 
5. Jack in The Box in Houston, TX: 2515 SF JIB built in 2007 on .7 ac lot in a booming area with East Beltway 8 frontage.  20 yrs absolute NNN corp lease with 15 yrs left.  NOI $96K/yr with 8% rent bump in 2012.  $1.576M. 6.25% cap. 
6. Smart and Final in Bakersfield, CA: 20,815 SF retail center built in 2001 on 2.2 ac lot.  15 yrs NNN corp lease with 5 yrs left to Smart and Final, a grocery chain with 250 stores.  NOI $310K/yr. with 10% rent bump every 5 yrs.  $4.277M. 7.25% cap.
7.  Retail Center in Long Beach, CA: 5676 SF 2-tenant retail center on .37 ac lot in densely populated city in Los Angeles.  100% NNN leased to Golden Burgers and London Liquor with 7-8 yrs left.  NOI $134K/yr. $1.675M. 8% cap. 
8. Del Taco in Parker, CO: 2165 SF Mexican fast food restaurant on .64 ac lot in fast growing and affluent Denver suburbs.  20 yrs NNN lease with 19 yrs left.  NOI $176K/yr with 12-15% rent bump every 5 yrs. $2.28M. 7.75% cap. 
9. Car Dealer in Miami, FL: 2928 SF car dealer on .92 ac lot on busy US 441.  100% NNN leased till 2015.  NOI $89K/yr.  $1.1M. 8.08% cap. 
10. Retail Center in North Riverside, IL: 58,366 SF retail center with institutional quality construction on 5.9 acres lot in Chicago metro.  Long term NNN lease to Sports Authority, Bally Total Fitness, Chase Bank and Boost Mobile.  NOI $666K/yr. $8.595M. 7.75% cap.  Buyer to assume $6.548M loan.

© Transmercial 2011

12-01: JIB, Rite Aid, Del Taco, Total Wine, Red Robin, Joe's Crab Shack, Century 21, MOB

1. Jack In the Box in San Antonio, TX: 2760 SF JIB restaurant on .69 ac lot on a busy highway in growing and high income area.  100% absolute NNN corp lease with 9 yrs remaining. NOI $114K/yr with CPI-based rent bump every 5 yrs.  $1.51M. 7.58% cap. 
2. Shopping Center in Cypress, TX: 17,500 SF shopping center completed in 2004 on 1.68 acres lot as part of a large neighborhood center near Northwest Fwy.  in Houston suburbs. Excellent demographics: AHI $112K/yr in 3 miles and 206% pop growth since 2000.  100% NNN leased to 9 tenants.  NOI $354K/yr. $4.3M. 8.25% cap. 
3. Rite Aid in Macomb Township, MI: 14,564 SF Rite Aid constructed in 2009 on 2.75 acres corner lot in a wealthy township with AHI $121K/yr in 1 mile.  20 yrs absolute NNN lease with 18 yrs left.  NOI $427K/yr with rare 10% rent bump every 10 yrs.  $4.886M. 8.75% cap. 
4. Retail Plaza in Santa Clara, CA: 5410 SF retail center built in 2006 on .41 ac lot in prime commercial corridor in high income Silicon Valley (AHI $111K/yr).  100% leased to 2 tenants.  NOI $201K/yr.  Price reduced to $2.9M. 7% cap. 
5. Del Taco in Aurora, CO: 2315 SF fast food Mexican restaurant built in 2005 on 1.35 acres pad to 1.7 Million SF Southlands Mall in booming (605% since 2000) and affluent (AHI $124K/yr) Denver suburbs.  20 yrs absolute NNN lease with 19 yrs left.  NOI $150K/yr with min 10% rent bump every 5 yrs. $1.935M. 7.75% cap. 
6. Total Wine Superstore in Rancho Cucamonga, CA: 25,000 SF single-tenant retail center on 3 ac lot next to I-15 in high income (AHI $91K/yr) and high growth (47%).  Across from 180,000 SF Sears Grand store.  10 yrs NNN lease till 2019 to Total Wine, a regional tenant with 71 superstores in 10 states.  Store with strong sales of $315/SF and 30% higher than last year.  NOI $519K/yr. $8.3M. 6.25% cap.
7.  Red Robin in Rancho Cucamonga, CA: 7067 SF Red Robin on 1.3 acres corner lot near I-15 in well-off area.  15 yrs NNN- till 2020.  NOI $156K/yr. $2.6M. 6% cap. 
8. Joe’s Crab Shack in Rancho Cucamonga, CA: 7400 SF seafood restaurant on 1.68 ac corner lot next to I-15 on ramp in high income area.  20 yrs absolute NNN lease to Joe’s Crab Shack, a national chain with 128 locations in 28 states, with 13 yrs left.  NOI $108K/yr with 10% rent bump every 5 yrs.  Store with strong $3.25M in sales (low rent to income ratio of 3.3%, i.e. highly profitable).  $1.8M. 6% cap. 
9. Century 21 in Rancho Cucamonga, CA: 15,000 SF single-tenant retail center on 1.48 acres lot with I-15 visibility & n3ext to 180,000 SF Sears Grand store.  10 yrs lease with 4 yrs left.  NOI $200K/yr. $2.5M. 8% cap.  Price below replacement cost. 
10. Medical Office Building in Aurora, CO: 9602 SF 2-story medical office building on .78 ac lot on a major artery in Denver metro.  100% leased to 6 doctors.  NOI $104K/yr. $1.067M. 9.75% cap.

© Transmercial 2011

11-30: 7-Eleven, Shopping Centers, 24-Hr Fitness, Sears Grand

1. Strip Center in Corona, CA: 4245 SF strip center at a signalized corner location in densely-populated Southern California. 100% lease to 2 tenants: 7-Eleven and Insurance office. NOI $98K/yr. $1.365M. 7.20% cap. 
2. Retail Center in Atlanta, GA: 10,800 SF upscale retail center on over 1 ac lot in fast growing and affluent (AHI $164K/yr in 1 mile) Atlanta suburbs.  . NNN leases. Tenants include Five Guys Hamburgers, Sport Clips, Good Nutrition, Southeastern Gold Buyers and Jolena's Nail and Spa. NOI $252K/yr. $2.965M. 8.5% cap.  
3. Retail Center in Antioch, CA: 8212 SF retail center on .82 ac outparcel to CVS, Big Lots! anchored shopping center.  Close to hwy 4 on ramp.  100% NNN leased to Bank of The West (since 1994) and Mountain Mike’s Pizza.  NOI $259K/yr. $3.575M. 7.26% cap. 
4. Bank-owned Shopping Center in Hesperia, CA: 22,976 SF 15-unit shopping center built in 2006 on over 2 acres lot. 62% occupied.  Current NOI $287K/yr. $2.2M.  13% cap.  Less than $100/SF! 
5. Shopping Center in Tucson, AZ: 58,494 SF shopping center on 4.84 ac lot close to I-10.  100% NNN leased with below market rents.  NOI $677K/yr. $7.85M. 8.63% cap. 
6. 24-Hr Fitness Center in Fort Worth, TX: 37,500 SF 3-yrs old fitness center on 6.4 acres lot close to I-820.  Part of 228,000 SF retail center anchored by Lowe’s and Best Buy.  100% NNN corp lease till 2024.  NOI $750K/yr with rare 12.5% rent bumps every 5 yrs.  $8.825M. 8.5% cap. 
7. Sears Grand in Rancho Cucamonga, CA: 180,330 SF retail center on 14 ac lot near I-15 in booming (155% since 2000) and high income area.  100% NNN ground lease (land is for sale) to Sears.  Best performing Sears Grand.  NOI $792K/yr. $12.67M. 6.25% cap.

© Transmercial 2011