08-20: Walgreens, Taco Bell, Family Dollar, Office Building, MOB, Neighborhood Centers

Welcome new investors.  Transmercial is the only company that offers this list of best properties between $700K to $20M in 50 states.  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 on the market).  Underlined names, if any, indicate safe hyperlinks that you can click for more info.

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Below are the most commonly used acronyms:

• 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. Walgreens in Cordova, TN: 14,418 SF Walgreens built in 2002 on 2.27 acres corner lot in upper middle class Memphis suburbs with AHI of 90K/yr in 1 mile.  25 yrs NNN corp lease with 15 yrs left.  NOI $263K/yr. $3.829M. 6.85% cap.
2. Shopping Center in Missouri City, TX: 55,022SF high-quality constructed shopping center on 4.76 acres of land along Hwy-6 in affluent Houston suburbs with an AHI of $107K/yr in 1 mile. 97% NNN leased. NOI $732K/yr. $8.4M. 8.72% cap.
3. Taco Bell in Kissimmee, FL: 3500 SF well maintained Taco Bell Restaurant on over 1 ac lot at a corner location of Hwy-530/192. Across from Poinciana Place: a 124,000 SF center anchored by Publix and near Walt Disney World Resorts and Sea World. 29 yrs absolute NNN lease with 5 yrs left. NOI $161K/yr with a 10% rent increase in 2014. $2.224M. 7.25% cap.
4. Neighborhood Center in Atwater, CA: 120,000 SF neighborhood center on 13 acres of land in a growing city near Merced. Close to new University of California Merced. 99% NNN leased to stable tenants. NOI $957/yr. $10.3M. 9.30% cap.
5. Retail Center in Spring, TX: 19,300 SF retail center on 1.61 ac lot at a signalized intersection fast growing and high income Houston suburbs. 100% leased. NOI $170K/yr. $1.7M. 10.02% cap.
6. Family Dollar in Indianapolis, IN: 9768 SF renovated single tenant discount store on .60 ac lot at busy corridor and next to Walgreens. Close to Pepsi Coliseum. 100% NNN- corp lease with 5 yrs left. NOI $100K/yr. $1.12M. 9% cap.
7. Strip Center in Mount Vernon, NY: 4400 SF strip center built in 1993 on .25 ac lot at a busy intersection in New York metro. 100% leased to stable tenants. NOI $125K/yr. $1.6M. 7.80% cap.
8. Retail Center in Fontana, CA: 7194 SF well maintained retail center built in 2008 along main road and across from Walmart center in San Bernardino County. NOI $185K/yr. $2.1M. 8.81% cap.
9. Office Building in Visalia, CA: 11,940 SF Class B consisting of two office buildings on .65 ac lot in growing Central CA. Close to Visalia Mall, College of the Sequoias and Hwy-63. 97% leased. NOI $62K/yr. $775K. 8% cap.
10. MOB in Reynoldsburg, OH: 9956 SF Class A medical building on 1.24 ac lot at highly visible location in high income Columbus metro. 10 yrs NNN lease to Ohio Health Corp. NOI $174K/yr. $2.489M. 7% cap.

© Transmercial 2012.

08-17: Hardee's, Centennial Fine Wine and Spirits, Family Dollar

1. Hardee’s in Lake City, FL: 3990 SF fast food restaurant on 1.25 ac outparcel to Lake City Mall. Close to Lake City Medical Center and I-75. 20 yrs absolute NNN corp lease. NOI $116K/yr with 10% rent increases every 5 yrs. $1.6M. 7.25% cap.
2. Centennial Fine Wine and Spirits in The Colony, TX: 10,000 SF liquor store on 1.36 ac lot with Hwy-121 frontage in affluent Dallas suburbs (AHI $100K/yr in 3 miles). 15 yr absolute NNN lease to Centennial Fine Wine & Spirits, a regional chain.  NOI $240K/yr with 10% rent increases every 5 yrs. $3M. 8% cap.
3. Professional Building in Houston, TX: 26,735 SF Class-B professional office building on 1.55 ac lot at a main road. Close to Clear Lake Regional Medical Center, Baybrook Mall and I-45. 98% leased to medical & professional tenants with only 416 SF vacant unit. $248K/yr. $2.563M. 9.71% cap.
4. Strip Center in El Paso, TX: 5500 SF strip center built in 2008 on .45 ac lot at a signalized location in upper middle class area. 100% leased to 5 tenants. $795K.  NOI $63K/yr. 8% Cap.
5. Family Dollar in Fairview Heights, IL: 9024 SF discount store built in 2009 on 1 ac lot in middle-class St. Louis suburbs. Close to St Clair Square and I-64. 10 yrs NNN- corp lease with 7 yrs left. NOI $75K/yr. $909K. 8.25% cap.
6. Retail Center in Bloomingdale, IL: 14,000 SF retail center on 1.27 ac lot along main retail corridor in high income Chicago suburbs. Close to 1.3 Million SF Stratford Square Mall.  100% leased. NOI $196K/yr. $1.85M. 11% cap.

© Transmercial 2012

08-16: Arby's, Professional Center, Mix-Used, MOB, Neighborhood Center

1. Arby’s in Arden Hills, MN: 3260 SF freestanding restaurant built in 2009 on 1.25 ac lot at a dominant retail corridor in high income (AHI $94K/yr in 1 mile) Minneapolis suburbs. Adjacent to Cub Foods grocery store and across from Super Target. 20 yrs absolute NNN corp lease with 16½ yrs left. NOI $120K/yr with 10% rent increases every 5 yrs. $1.6M. 7.50% cap.
2. Retail Center in Jonesboro, GA: 9600 SF attractive retail center built in 2007 on 1.25 ac lot along major artery in Atlanta metro. Tenants include: Backyard BBQ, OneMain Financial, TC Nails, AS Tax Service, Mail Plus, Gold Etc. and State Farms. 100% NNN leased. NOI $105K/yr. $1.050M. 10% cap.
3. Professional Center in Houston, TX: 21,590 SF two-story well-maintained professional building on 1.23 ac lot at on a busy thoroughfare. Close to Clear Lake Regional Medical Center, Baybrook Mall and I-45. 93% leased to doctors, TCEQ, insurance company, law firm and environmental consultant. NOI $192K/yr. $2.099M. 9.16% cap.
4. Shopping Center in West Sacramento, CA: 22,198 SF shopping center built in 1992 on 1.61 ac lot at a signalized corner location. Close to IKEA, The Home Depot, Super Wal-Mart and I-80. 92% NNN leased. NOI $448K/yr. $5.55M. 8.08% proforma cap.
5. Strip Center in North Hollywood, CA: 8372 SF retail center completely renovated in 2008 on .32 ac lot in densely populated area with ½+ million residents within 3 miles ring. 100% NNN leased. NOI $136K/yr. $1.95M. 7.01% cap.
6. Shopping Center in Memphis, TN: 139,785 SF shopping center consisting of three building renovated in 2004 on nearly 12 acres of land anchored by Save-A-Lot grocery and Dollar Tree and next to I-40. 96% leased. NOI $816K/yr. $9M. 9.07% cap.
7. Strip Center in Suwanne, GA: 10,800 SF brand new strip center on 1+ ac lot anchored by Five Guys Burgers and next to busy corridor in fast growing and affluent Atlanta suburbs (AHI $164K/yr in 1 mile). 100% leased. NOI $235K/yr. $2.785M. 8.45% cap.
8. MOB in Garland, TX: 44,731 SF Class-A two-story medical office building constructed in 2005 on 6.79 acres of land in an affluent (AHI $130K/yr) community in suburban Dallas.  85% leased. 7.50% cap. Price/NOI not provided.
9. Retail/Office Center in Corona, CA: 31,400 SF mix-used center on 2.66 ac lot in densely-populated Riverside County. 84% leased. NOI $266K/yr. $3.813M. 7% cap.
10. Neighborhood Center in Oklahoma City, OK: 66,805 SF neighborhood center on 9.48 acres lot anchored by Gold’s Gym and adjacent to Quails Spring Mall. Next to Best Buy and across from a Walmart and Sam's Club center. 100% leased to 5 tenants.  NOI $790K/yr. $9.3M. 8.5% cap.

© Transmercial 2012

08-15: Arby's, Burger King, Family Dollar, Sonic, Office Building, shopping centers

1. Retail Center in Houston, TX: 10,080 SF retail center on .73 ac lot at a busy corridor near  Hwy-288. 100% leased. Tenants include: HR Block, Subway, Cricket Wireless.  NOI $173K/yr. $2.25M. 7.70% cap.
2. Arby’s in Blaine, MN: 3946 Arby’s Restaurant built in 2004 on 1.25 ac lot in growing Minneapolis suburbs. Across from Kohl’s and Menards. 100% absolute NNN corp lease with 12 yrs left. NOI $172K/yr with 1% annual rent increases. $2.3M. 7.51% cap.
3. Burger King in Cumming, GA: fast food restaurant built in 2008 on .81 ac lot in fast growing and affluent (AHI $107K/yr in 1 mile) Atlanta suburbs. Across The Avenue Forsyth: a 493,000 SF shopping center and near Hwy-19/400. 15 yrs absolute NNN corp ground lease with 11 yrs left (land is for sale, tenant owns the building). NOI $110K/yr with a 10% rent increase in 2018. $1.833M. 6% cap.
4. Shopping Center in Sugar Land, TX: 18,700 SF high-quality construction shopping center on 2½ ac lot in affluent Houston suburbs with an AHI of $109K/yr in 3 mile radius. At main entrance to the 2000 acre Telfair Master Planned Community.  90% leased. NOI $431K/yr. $5.748M. 7.50% cap.
5. Office Building in Temecula, CA: 46,464 SF two-story well kept office building constructed in 2001 on 3+ ac lot close to I-15 in Riverside County. 97% leased to multiple tenants. NOI $473K/yr. $5.899M. 8.03% cap.
6. Shopping Center in Charlotte, NC: 44,000 SF in-line well maintained shopping center on 4.41 ac lot anchored by Family Dollar, K&W, Enterprise Rent-a-Car and Weight Watchers. Next to Quorum Market Place. 100% leased. NOI $499K/yr. $5.9M. 8.45% cap.
7. Retail Center in Indianapolis, IN: 14,150 SF retail center on 1+ ac lot at high traffic location. Tenants include: Foot Peak Performance Fitness Center, Pure Essence Salon, Stop N Shred, Just Judy Restaurant. NNN leases. $1.2M. NOI/Cap not provided.
8. Family Dollar in Tarpon Springs, FL: 8290 SF brand new built-to-suit retail building on 1.21 ac lot in Tampa metro. 10 yrs NNN- corp lease. NOI $134K/yr. $1.741M. 7.75% cap.
9. Strip Center in Vancouver, WA: 7160 SF strip center on .68 ac lot in growing middle class area. 100% leased to regional/local tenants. NOI $58K/yr. $725K. 8.09% cap.
10. Sonic in Houston, TX: 1557 SF Sonic Restaurant built in 2007 on .78 ac lot in densely populated area. Adjacent to Almeda Crossing Center: a 225,000 SF anchored center and close to Walmart, Almeda Mall and I-45.  15 yrs absolute NNN corp ground lease (land is for sale, tenant owns the building) with 10 yrs left. NOI 66K/yr with a 10% rent increase in 2017. $977K. 6.75% cap. 

© Transmercial 2012

08-14: Western Dental, IHOP, REO, Jiffy Lube, O'Reilly

1. Western Dental in Tempe, AZ: 5395 SF recently remodeled single tenant dental office building on .96 ac lot at a busy retail corridor. Next to Walmart and across from Costco/Costco Home. 10 yrs absolute NNN corp lease with 9+ yrs left. NOI $137K/yr with a 12% rent increase in 2017. $1.964M. 7% cap.
2. Shopping Center in Crystal River, FL: 46,831 SF well maintained shopping center on 5.41 acres of land in a coastal town North of Tampa.  Shadow-anchored by Sweetbay Supermarket at a signalized intersection along Hwy-98. 82% leased. NOI $324K/yr. $3.6M. 8.90% cap. Upside potential.
3. MOB in San Antonio, TX: 29,080 SF Class-B medical office buildings consisting of three buildings constructed in 2002 on nearly 3 ac lot close to I-410. Tenants include: Fresenius, DaVita and VA Clinic. 100% NNN leased with Master Lease. NOI $572K/yr. $7.5M. 7.67% cap.
4. IHOP in Olathe, KS: 4972 SF IHOP Restaurant built in 2007 on 1.41 ac lot in growing and high income Kansas City suburbs. Near Olathe Medical Center, Great Mall of the Great Plains and next to I-35. 15 yrs absolute NNN lease. NOI $195K/yr with 10% rent increases every 5 yrs. $2.6M. 7.5% cap.
5. O’Reilly Auto Parts in Anthem, AZ: 7020 SF auto parts store built in 2005 on 1.26 ac lot in growing upper middle-class North of Phoenix suburbs. Adjacent to Wal-Mart Supercenter, across from the Outlets at Anthem and near I-17. 100% NNN corp lease with 8 yrs left. NOI $110K/yr with 10% rent increase every 5 yrs. $1.618M. 6.80% cap.
6. MOB in Waterloo, IA: 11,888 SF newly constructed medical office building on 2.48 ac lot in high income area. Close to Covenant Medical Center and Hwy-20/27. 100% leased to an Outpatient Clinic providing physician evaluations, basic X-rays, routine laboratory testing, and EKGs, primary care, preventative health, and wellness services. NOI $255K/yr. $3.4M. 7.50% cap.
7. REO’ed Retail Center in Shorewood, IL: 30,000 SF bank-owned retail center on 3.87 ac lot in fast growing(163+% pop growth) and affluent (AHI $90K/yr within 1 mile) Chicago suburbs. Across from Target center. 56% leased. NOI $344K/yr. $2.7M. 12.77% cap. Upside potential.
8. Strip Center in Geneva, IL: 10,620 SF strip center on 1.13 ac lot at a signalized intersection in prosperous Chicago metro with an AHI of $156K/yr in 1 mile. Close to 159-bed Delnor Community Hospital. 85% leased with only 1 vacant unit. NOI $177K/yr. $2.5M. 8.85% cap.
9. Jiffy Lube in Reno, NV: 2018 SF high quality constructed auto center built in 2006 on .75 ac lot at a visible corner location next to Hwy-95. 20 yrs NNN lease with 12 yrs left. NOI $112K/yr with 2% annual rent increases. $1.549M. 7.25% cap.
10. Retail Center in Fontana, CA: 7194 SF retail center built in 2008 on .64 ac lot with huge monument sign in San Bernardino County. Across from Walmart. NOI $185K/yr. $2.1M. 8.81% cap.

© Transmercial 2012