01-02: Family Dollar, MOB, BJ's, Bridgestone, Applebee's, Burlington Coat Factory

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. Retail Center in Santa Rosa, CA: 11,878 SF retail center built in 1999 on nearly 1 ac lot North of San Francisco. Across from Raley’s Market and Ace Hardware center. 100% leased with good tenants mix. NOI $272K/yr. $4.45M. 6.13% cap.
2. Family Dollar in Phoenix, AZ: 8320 SF newly constructed retail building on .86 ac lot at a signalized location. Close to 266-bed John C Lincoln North Mtn Hospital. Newly executed 10 yrs NNN- corp lease with 9 yrs left. NOI $127K/yr. $1.93M. 6.60% cap.
3. MOB in Huntersville, NC: 11,411 SF Class-B medical office building completed in 1997 in fast growing and high income Charlotte suburbs with an AHI of $104K/yr in miles. 100% NN leased to multiple tenants. NOI $213K/yr. $2.25M. 9.50% cap.
4. BJ’s in Jacksonville, FL: 119,598 SF Wholesale warehouse retail store built in 2005 on 11+ ac lot along major corridor. Adjacent to Lowe’s Home Improvement. 20 yrs NNN lease with 12 yrs left. NOI $1.258M/yr with rent increases every 5 yrs. $19.355M. 6.50% cap.
5. Bridgestone Firestone in Broker Arrow, OK: 6888 SF currently being remodeled tires and auto repair center on .80 ac lot in Tulsa suburbs. Close to Hwy-51. 20 yrs absolute NNN corp lease with 8 yrs left. NOI $157K/yr. $2.247M. 7% cap.
6. Applebee’s in Spartanburg, SC: 4,386 SF Applebee’s restaurant built in 1997 on 1.20 ac lot. Long major retail corridor and close to Mary Black Memorial Hospital. 20 yrs absolute NNN lease with 11 yrs left.  NOI $157K/yr with 1.75% annual rent bumps. $2.1M. 7.50% cap.
7. Retail Center in Pelham, AL: 11,444 SF attractive retail center built in 2004 on 1½ ac lot in growing upper middle-class Birmingham suburbs.  85% leased. NOI $150K/yr. $1.875M. 8% cap.
8. Burlington Coat Factory in Richardson, TX: 74,091 SF Burlington Coat Factory in growing and high income (AHI $85K/yr in 1 mile) Dallas suburbs. Across from Richardson Square, a Power Center with Super Target, Sears, Ross Dress for Less, Anna’s Linens and Lowe’s. 100% NNN lease with 7 yrs left. NOI $533K/yr. $5.615M. 9.50% cap.

            (c) Transmercial 2014

12-30: Family Dollar, Autozone, Apartments, Rite Aid, Gender Mountain, MOB

1. Family Dollar in Jacksonville, FL: 9100 SF Family Dollar store constructed in 2013 on .78 ac lot at a signalized corner.  New 10 yrs NNN- with 9 yrs left.  NOI $198K/yr with 10% rent bumps during each 5 yrs option.  $2.812M. 7% cap.
2. Autozone Center in Grand Haven, MI: 8834 SF 2-unit retail center on 1.22 ac lot.  Anchored by Autozone paying 92% of the revenue.  100% NNN lease.  NOI $121K/yr. $1.53M. 8% cap.
3. Auto Service Center in San Bernardino, CA: 5064 SF Tires/Wheels/auto service center on 1/3 ac corner lot.  10 yrs lease.  NOI $56K/yr. $700K.  8% cap.
4. Apartments in Grand Rapids, MI: 48-unit well-kept low-maintenance brick-construction apartments complex on 2.22 ac lot.  96% occupied.  NOI $157K/yr. $1.89M. 8.23% cap. 
5. Retail Center in Stafford, VA: 16,252 SF retail center on 1.9 ac lot.  1 block from Home Depot, Target, Walmart, Michaels, Kohl;s, Best Buy and more.   In high income suburbs SW of Washington DC.  Anchored by 5694 SF DaVita dialysis and 100% leased to 7 tenants.  NOI $320K/yr. $2.945M. 7.62% cap (Note: these 3 numbers provided by the listing broker don't look correct).
6.  Rite Aid in Cleveland, TX: 11,230 SF drugstore built in 1999 on 1.17 ac hard corner lot in a city NE of Chattanooga.  20 yrs NNN- with 5 yrs left.  NOI $226K/yr.  $2.7M. 8.37% cap.
7. Gander Mountain in Taylor, MI: 57,038 SF single-tenant retail center directly across the street from Target and the Southland Mall in growing part of Detroit suburbs.  NOI $413K/yr.  $4.34M. 9.52% cap. 
8. Jiffy Lube in Olympia, WA: 1840 SF Jiffy Lube located across from a popular local grocery store.  100% leased to the largest franchisee of quick lube retail service stores in the country.  NOI $48K/yr. $750K.  6.5% cap.
9. MOB in Mesa, AZ: 3210 SF single-tenant medical office building completed in 2013.  100% leased to an OB/GYN tenant with 7 yrs left.  NOI $50K/yr.  $802K.  6.3% cap.

(c) Transmercial 2013

12-27: Titlemax, Wendys, Buffalo Wild Wings, Jiffy Lube, LA Fitness, Aarons

1. TitleMax in Phoenix, AZ: 5196 SF single-tenant retail building with drive-thru on .63 ac lot.  Renovated in 2012. 100% NNN corp lease with 3.5 yrs left to TitleMax, a national title loan company with 1000+ locations.  NOI $57K/yr with 15% rent bump in the next 5 yr option.  $799K.  7.21% cap. 
2. Wendy's in Richmond, VA: 2831 SF Wendy's restaurant on .77 ac corner lot on a busy 6-lane road. 20 yrs absolute NNN lease with 19 yrs left to an operator with 63 units and over $100M in annual revenue.  NOI/price not available.  2% annual rent bumps.  6.25% cap.
3. Office Building in Knoxville, TN: 8132 SF 2-story class-A single-tenant admin office building.  Gentiva Health, a national medical tenant has been here for 7 yrs and signed a new 5 yrs lease.  NOI $102K/yr. $1.249M. 8.2% cap.
4. Buffalo Wild Wings in McAllen, TX: 6026 SF new BWW restaurant and Sports Bar on 1.63 ac lot in high income area with AHI of $78K/yr in 1 mile.  15 yrs absolute NNN lease with 13 yrs left.  NOI $240K/yr with 10% rent bumps every 5 yrs. $3.693M. 6.5% cap.
5. Jiffy Lube in San Antonio, TX: 1332 SF 2-bay Jiffy Lube built in 1990 in upper middle class area.  New 20 yrs absolute NNN lease to Allied Lube Texas LP which is one of the top Jiffy Lube franchisees with 74 locations throughout Texas.  NOI $110K/yr with 10% rent bumps every 5 yrs.  $1.638M. 6.75% cap.
6. Strip mall in Desoto, TX:  6259 SF 5-unit inline retail center built in 1998 on .79 ac in high income Dallas suburbs.  Shadow anchored by Albertsons Grocery.  NOI $62K/yr.  just $779K. 8% cap.
7. LA Fitness in Naples, FL: 30,571 SF fitness center with swimming pool on 8 ac corner lot in high income area.  15 yrs corp NNN- lease to LA Fitness with 9 yrs left.  NOI $687K./yr. with 10% rent in 2018. $8.86M. 7.75% cap. 
8. Aaron's Rents in Augusta, GA:  8200 SF single-tenant retail center on 1.1 ac outparcel to Walmart with easy access to I-520.  15 yrs absolute NNN lease with 8 yrs left.  NOI $62K/yr. $829K. 7.5% cap.

(c) Transmercial 2013

12-23: Dollar General market, IHOP, Burger King, Walgreesn & Days Inn

Happy Holidays!  Transmercial will close on 12/24 and 12/25.  This year also marks a major milestone for Transmercial.  It's been around for 10 years.  We would like to thank you for your business, trust and support over the years.

1.  Dollar General Market in Hemet, CA: 23,200 SF Dollar General Market (DG with grocery) fully renovated in 2013 on 2 ac lot . Next to National Tenants Including Stater Bros., Big KMart, Wells Fargo, Sprouts, CVS, Chase, Starbucks, Carl's Jr., and Pizza Hut.  New 10 yrs NNN- corp lease.  NOI $248K/yr with 10% rent bump in 5 yrs.  $3.728M. 6.25% cap. 
2. IHOP in Madera, CA:  4558 SF IHOP restaurant on .81 ac outparcel to Walmart in a fast growing city in San Joaquin valley.  Easy access to Hwy 99.  100% NNN corp lease with 6 yrs left.  NOI $167K/yr. with 10% rent bump in 1 yr.  $2.78M. 6% cap.
3. Burger King in Tucson, AZ: 2643 SF Burger King on 1.08 ac outparcel to a shopping center in a growing city.  New 20 yrs NNN lease at close of escrow to a largest AZ Burger King operator.  NOI $92K/yr. $1.533M. 6% cap. 
4. Walgreens & Days Inn in Gainesville, FL: Walgreens built in 1999 and 102-room Days Inn next to I-75 exit.  Walgreens is on ground lease with 46 yrs left with 200K/yr base rent.  Days Inn has gross revenue of $800K/yr. NOI $562K/yr. $8.4M. 6.7% cap.       
5. Shopping Center in Los Angeles, CA: 13,141 SF shopping center built in 2008 on a corner lot in densely-populated area with over 1M residents within 5 miles radius.  100% NNN leased to 8 tenants including Subway, Metro PCS, Mothers Nutritional Center, Watts Healthcare Corp (WIC), Liberty Tax Services, RPM Lenders, Shiek Shoes. NOI $468K/yr. $6.25% cap. 7.5% cap.
6. Retail Center in Palmdale, CA:  4480 SF 2-building retail center at a signalized corner with 2 points of ingress and egress.  100% leased to 4 tenants:  Donut Shop, Thai Restaurant, Mexican Restaurant and Lube Pit.  NOI $100K/yr. $1.25M. 8% cap.

            (c) Transmercial         

12-20: Shopping centers, CVS, Fletcher's auto, MOB, Chase, Starbucks, Buffalo Wild Wing

1. Shopping center in Las Vegas, NV: 35,169 SF shopping center built in 1990 on 2.63 ac corner lot on the busy Sahara Avenue with strong demographics (AHI $92K/yr).  93% leased.  NOI $440K/yr. $5.9M. 7.8% cap.
2. CVS Pharmacy in Lawrenceville, GA: 10,318 SF 24-hr drugstore built in 1998 on 1.54 ac corner lot on the busy Duluth Hwy in Atlanta metro. Close to Gwinnett County Medical Center.  20 yrs NNN- corp lease with 5 yrs left.  Store with strong sale and high probability of lease renewal.  NOI $234K/yr. $3.78M. 6.2% cap.
3. Fletcher's Tire and Auto in Buckeye, AZ: 6118 SF auto service center built in 2007 on 3/4 ac lot near I-10 exit.  Adjacent to Sundance Towne Center with Wal-Mart, Lowe' s, OfficeMax and PetsMart. New 20 years absolute NNN corp lease at Close of escrow.  NOI $144K/yr with 8.5% rent bumps every 5 yrs. $2.102M. 6.85% cap. 
4. MOB in Annandale, VA: 8200 SF free-standing office/medical office building in wealthy Fairfax county (AHI $104K/yr) just outside of Washing DC. 96% leased to 5 tenants.  NOI $99K/yr. $1.65M. 6% cap. 
5. Shopping Center in Wheaton, IL: 25,152 SF on a corner lot in high income Chicago metro (AHI $97K/yr). 100% leased to 6 tenants.  NOI N/A. $3.2M.
6. Chase/Starbuck center in Avondale, AZ: 5563 SF strip center on .92 ac lot in middle class Phoenix.  100% NNN leased to Chase bank and Starbucks.  NOI $133K/yr. $1.75M. 7.63% cap.
7. Shopping Mall in Westminster, CO: 24,029 SF upscale shopping center completed in 2007 in high income Denver.  100% leased.  NOI $494K/yr. $6.18M. 8% cap.
8. Buffalo Wild Wings in Johnson City, TN: 6200 SF BWW restaurant in high growth (26% since 2000) high income (AHI $94K/yr).  10 yrs NNN lease with 9 yrs left.  NOI $142K/yr. $2.037M.  7% cap.

(c) Transmercial 2013

12-19: BWW, Jack in the Box, Walgreens, DMV, Texas Roadhouse Restaruant

1. BWW in Calumet City, IL: 6,700 SF Buffalo Wild Wing Grill & Bar restaurant renovated in 2010 on 1+ ac outparcel to Calumet Center, a 522,222 SF Power Center in Chicago metro. Across from River Oaks Center, a 1,200,000 SF Regional Mall. New 10 yrs NNN lease. NOI $126K/yr. $1.938M. 6.50% cap.
2. Retail Center in Saint Petersburg, FL: 15,680 SF well maintained retail center at a signalized corner location of Hwy-19. 91% leased. Pro forma NOI $180K/yr. $2.5M. 7.20% pro forma cap.
3. Jack in the Box in San Antonio, TX: 1691 SF drive-thru fast food restaurant renovated in 2010 at a hard corner location. Close to Walmart, Sam’s Club and I-410. 100% absolute NNN corp lease with 7 yrs left. NOI $51K/yr. $800K. 6.38% cap.
4. Walgreen’s in Rochester, NY: 14,820 SF attractive Walgreen’s pharmacy completed in 2009 on over 3 ac lot at a hard corner location in upper middle class area. 25 yrs absolute NNN lease with 21 yrs left. NOI $440K/yr. $6.725M. 6.54% cap.
5. Shopping Center in Tucson, AZ: 25,708 SF well kept shopping center on over 2 ac lot at a hard corner location. Shadow anchored by Walmart Neighborhood Market. 100% NNN leased. NOI $307K/yr. $4.6M. 6.68% cap.
6. DMV in Chesapeake, VA: 8480 SF Class-B office building on 2 ac lot in growing and high income (AHI $96K/yr) Norfolk suburbs. 100% leased to the State of VA Department of Motor Vehicle. NOI $148K/yr. $1.85M. 8% cap.
7. Retail Center in Abington, MA: 21,816 SF attractive retail center built in 2005 in high income Boston metro with an AHI of $82K/yr in 3 mile radius. 95% NNN leased. NOI $185K/yr. $2.745M. 6.75% cap.
8. Retail Center in Ontario, OH: 8990 SF retail center built in 2007 on 1.38 ac lot in growing Mansfield suburbs. Across from Meijer grocery, Menards grocery and Power Center with Target, Beth Bath & Beyond and Movie Theater. 100% leased to Panera Bread, Cold Stone and Portrait Innovations. NOI $179K/yr. $2.55M. 7% cap.
9. Retail Center in Torrance, CA: 12,232 SF retail center in densely populated and high income (AHI $111K/yr) Los Angeles area. 100% leased to established long term tenants. NOI $376K/yr. $5.45M. 6.90% cap.
10. Texas Roadhouse in Mobile, AL: 9117 SF Texas Roadhouse restaurant built in 2008 on over 2 ac lot close to Providence Hospital and Airport. 15 yrs NNN ground lease (land for sale) with 9 yrs left. NOI $109K/yr with 10% rent bumps every 5 yrs. $1.788M. 6.15% cap.

            (c) Transmercial 2013

12-18: Goodyear, Jiffy Lube, Applebee's, Lone Star Steakhouse, MAX Fitness, Verizon Wireless

1. Goodyear (S&P BB-) in Jacksonville, FL: 8000 SF auto center built in 2006 on 1+ ac lot at a signalized intersection. Close to I-95. 15 yrs NNN- corp lease with 7+ yrs left. NOI 144K/yr. $2.045M. 7.04% cap. Buyer to assume $950,000 loan at 6.37% interest rate.
2. Jiffy Lube in Orlando, FL: 2,572 SF 3-bays Jiffy Lube built in 1997 on .32 ac lot.  Along major artery.  13 yrs absolute NNN lease with 12+ left to a franchisee with 8 units.  NOI $53K/yr with 2% annual rent bumps.  $738K.  7.25% cap.
3. Starbucks Coffee in Walker, MI: 2,138 SF attractive Starbucks Coffee completed in 2007 on .59 ac lot at a busy retail corridor in Grand Rapids suburbs. Close to I-96. 10 yrs NNN- corp lease with 5 yrs left. NOI $132K/yr. $1.8M. 7.36% cap.
4. Applebee’s in Memphis, TN: 7000 SF casual dining restaurant renovated in 2012 on 1.40 ac lot in high income area with an AHI of $94K/yr in 1 mile. Adjacent to the FedEx World Headquarters. This is a sale & leaseback investment. New 15 yrs absolute NNN ground lease (land for sale). NOI $110K/yr with 10% rent increases every 5 yrs. $1.917M. 5.75% cap.
5. Retail Center in Plantation, FL: 18,979 SF well maintained retail center on over 2 ac corner lot in high income Fort Lauderdale suburbs. Close to Westside Regional Medical Center and Westfield Broward Mall. Long term & stable tenants. NOI $385K/yr. $2.85M.  NOI/Cap not provided.
6. Lone Star Steakhouse in Rockford, IL: 6,397 SF Lone Star steakhouse on .92 ac outparcel to Target in middle class area. Near Walmart Supercenter, Sam's Club, Lowe's & Home Depot. 100% absolute NNN lease with 12 yrs left.  NOI $208K/yr with 1.5% annual rent bumps.  $2.189M. 9.5% cap.
7. MAX Fitness in Fort Wayne, IN: 19,200 SF fitness center completed in 2007 on 5 ½ ac lot in growing and high income (AHI $81K/yr) area. Near Walmart Supercenter and two major hospitals. 100% NNN lease with 8 yrs left to experienced operator with three facilities. NOI $176K/yr. $2.07M. 8.51% cap.
8. Retail Center in Toledo, OH: 23,293 SF retail center renovated in 2009 on 2 ac lot close to I-90/80. 99% NNN leased. NOI $212K/yr. $2.32M. 9.16% cap.
9. Strip Center in Avondale, AZ: 10,017 SF attractive strip center completed in 2003 on 1.38 ac outparcel to Sam’s Club in growing Phoenix suburbs. Close to I-10. 100% leased to stable tenants. NOI $165K/yr. $2.135M. 7.75% cap.
10. Verizon Wireless in Indianapolis, IN: 2433 SF newly constructed retail building on .80 ac lot at a signalized intersection and along main retail corridor. 10 yrs NNN- lease to largest franchisee in the U.S. NOI $116K/yr with 10% rent bumps every 5 yrs. $1.6M. 7.26% cap.

           

            (c) Transmercial 2013