02-23: Burger King, CVS, Jack in the Box, Childcare Center, Office Building for sale

1.      Corp Burger King in Hampton, NH: 2600 SF restaurant on .91 ac lot in upper middle class area.  100% corp NNN ground lease (land is for sale) with 7 yrs remaining.  NOI $59K/yr and will go up to $68K/y in 2013.  $850K.  7% cap now and 8.1% in 2013.

2.      Shopping Center in Miamisburg, OH: 21,200 SF shopping center on 1.2 acres lot in front of Dayton Mall in Dayton suburbs.  100% NNN leased to Advance Auto part (10 yrs lease) and Buyback Entertainment, a regional tenant.  NOI $175K/yr. $2.2M. 7.95% cap.

3.      CVS Shopping Center in Fairfield, CA: 23,856 SF retail center which includes a 15,755 SF CVS and 6 shops built in 2007 on 2.36 acres lot next to Lowe’s and I-80 with 200,000 VPD.  Growing and high income area.  100% leased (CVS leased till 2027).  NOI $287K/yr. $4.1M. 7% cap.

4.      Office Building in Santa Clarita, CA: 8696 SF one-of-a-kind custom built office building in high income area.  100% leased to stable tenants.  NOI $225K/yr. $2.25M. 10% cap.

5.      Fallas Parades in Maywood, CA: 28,340 SF single-tenant retail center built in 1993 on 1.84 acres lot in densely populated area with over 950K residents in 5 miles ring.  7 yrs remaining in 100% NNN- lease to Fallas Parades (same owner as Factory-2-U) with 200 locations.  NOI $330K/yr. $4.2M. 7.85% cap.

6.      Corp Jack in the Box in Phoenix, AZ: 2665 SF restaurant on .7 acre lot.  100% NNN corp lease till 2022.  NOI $95K/yr with CPI-based rent bump every 5 yrs.  $1.36M. 7% cap.

7.      Apartments in Long Beach, CA: 14-unit well-maintained 2-story apartments in area with no rent control. 97% occupied. NOI $87K/yr.  Price reduced to $995K.  8.79% cap.

8.      Del Taco in Greeley, CO: 2260 SF fast food restaurant built in 2006 on .81 ac lot in front of Greeley Mall.  Long term NNN lease.  NOI $126K/yr. $1.68M. 7.5% cap.

9.      Kids Choice Childcare Center in Meridian, ID: 7096 SF childcare center completed in 2008 in booming (111% since 2000) and middle class Boise metro.  10 yrs NNN lease with 7 yrs remaining.  NOI $87K/yr.  $870K. 10% cap.

© Transmercial 2011.

02-22: Big 5 Sports, Walgreens, Starbucks, Towne Center for sale

1.      Shopping Center in Lakeland, CA: 40,812 SF 16-unit shopping plaza in San Diego suburbs.  Anchored by 17,707 SF Rite Aid, 4200 SF Chase Bank,  and 5400 SF O’Reillys Auto Parts. Shadow anchored by 43,624 SF Albertson’s grocery.  91% NNN leased with 3 small vacant spaces.  Current NOI $654K/yr. $7.8M.  8.4% cap.   Upside potential when 100% leased.

2.      Big 5 Sports in Parker, CO: 11,562 SF upscale retail center built in 2008 on 1.04 acres lot in fast growing (95% since 2000) & affluent (AHI $109K/yr) Denver suburbs.  Near Parker Adventist Hospital.   Easy access to Hwy 470.  10 yrs NNN- to Big 5 Corp.  NOI $173K/yr with 10% rent bump every 5 yrs.  $2.2M. 7.83% cap.

3.      Shopping Center in Houston, TX: 37,375 SF shopping center built in 1998 on 3.48 acres lot in upper middle-class area (AHI $97K/yr within 1 mile).  Anchored by CATO Fashion, and Aaron’s Furniture.  Shadow anchored by Kroger Signature Supermarket.  95% NNN lease.  NOI $423K/yr. $4.976M. 8.5% cap.

4.      Walgreen’s in Louisville, CO: 13,883 SF inline drug store on 1.32 acres lot next to Safeway Grocery in upper middle-class (AHI $96K/yr) Denver suburbs.  Store with increasing sales revenue.  100% NNN leased till 2023.  NOI $115K/yr (including $32K of percentage rent).  Just $1.05M. 10.96% cap.  Low 2.4% rent to income ratio.

5.      Retail Center in Sacramento, CA: 7320 SF newly built retail center on 1.1 acres lot with easy access to I-80. 100% NNN leased to 2 tenants.  NOI $182K/yr. Price reduced to $1.999M. 9.1% cap.

6.      Shopping Center in Indian Head Park, IL: 17,805 SF retail center on 1.94 acres lot in affluent Chicago suburbs (AHI $120K/yr).  100% NNN leased to 8 good tenants.  NOI $330k/yr $3.9M.  8.46% cap.

7.      Starbucks in Texas City, TX: 1733 SF Starbucks coffee built in 2008 on  ½ ac lot in Houston suburbs.  10 yrs NNN- with 7 yrs remaining.  NOI $93K/yr. $1.07M. 8.75% cap.

8.      Towne Center in Gilbert, AZ: rare 93,372 SF Towne Center built in 2000 on 7.63 acres corner lot with great visibility in high growth, high income (AHI $101K/yr in 1 mile) Phoenix metro.  Anchored by Ross, Staples, Sally Beauty Supply and Petco.  Shadow anchored by Target.  Across from Frys, Home Depot, Walgreens. 100% NNN leased.  NOI  $1.444M. $19M. 7.6% cap.

9.      Sports Authority in Lake Saint Louis, MO: 42,081 SF single-tenant big box built in 2008 on 3.67 acres lot between Wal-Mart and Lowe's in a Major Power Center in fast growing (66% since 2000) and affluent St Louis suburbs (AHI $109K/yr).  100% NNN lease with 9 yr remaining.  NOI $463K/yr. $5.29M. 8.75% cap.

© Transmercial 2011.

02-21: Wyndham hotel, Cancer center, Advance auto, Davita, Medical Office, shopping center for sale

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.      Wyndham Hotel in Grapevine, TX: 101 unit hotel on 2 acres lot near Dallas-Fort Worth Airport with highway visibility $\Income not avail.  $3.95M.

2.      Cancer Center in El Centro, CA: 8492 SF medical office building on 1 acres lot.  100% NNN lease to Valley Oncology with 40 radiation oncology center in 13 states.  NOI $230K/yr. $2.884M. 8% cap.

3.      Medical Office building in Houston, TX: 26,988 SF class-B medical office building on 1.46 acres lot close to Houston Northwest Medical center.  90% leased.  NOI not avail.  $2.5M.   Just $92/SF.

4.      Advance Auto Parts in North Ridgeview, OH: 6000 SF AAP on 1.2 acres lot in growing middle-class Cleveland suburbs.  NNN lease till 2024.  NOI $136K/yr. $1.693M. 8.2% cap.

5.      Apartments in Katy, TX: 291-unit 10-yrs old class A 10-foot ceiling apartments on 13.3 acres in high growth (45% since 2000), high income (AHI $85K/yr) Houston suburbs.  95% occupied.  Income & Price N/A.

6.      Davita Dialysis Center in Sellersville, PA: 6370 SF dialysis center in a newly commercial condo project in middle class area North of Philadelphia.  15 yrs absolute NNN lease with Davita Corp guaranty.  NOI $272K/yr with 2% annual rent bump.  $3.625M.  7.5% cap.

7.      Shopping Center in Gurnee, IL: 19,864 SF retail center built in 1988 on 1.38 acres lot at the entrance to Six Flags near tollway 94. 100% NNN leased to 3 tenants.  NOI $313K/yr. $2.89M. 10.85% cap.

© Transmercial 2011.

02-16: Rite Aid, Walgreens, hhgregg, Shopping centers, Sonic Drive-in for sale

1.      Rite Aid in Columbia, SC: 14,673 SF drug store built in 2008 on 1.69 acres lot in middle class area.  20 yrs NNN lease with 17 yrs remaining.  NOI $295K/yr with 10% rent bump every 10 yrs.  Price reduced to $3.277M. 9% cap.

2.      Shopping Center in Miami Gardens, FL: 20,810 SF 2-tenant retail center built in 2008 on 1.84 acres lot across from Wal-mart in densely populated North Miami.  Anchored by 18,760 SF Office Depot with long term NNN lease till 2023a and 10% rent bump every 5 yrs.  NOI $346K/yr. $4.75M. 7.3% cap.

3.      Shopping Center in New Port Richey, FL: 14,000 SF 8-unit shopping center built in 2007 on 2.74 acres parcel in front of Lowe’s and across from Home Depot and Kohl.  92% NNN leased 7 national/regional tenants with 1 small avail unit.  NOI $318K/yr.  $3.9M. 8.16% cap.

4.      hhgregg in Orlando, FL: 33,154 SF single-tenant big box on 2.37 acres lot with $1.2M renovation paid by tenant in 2007.  Across from 1,849,000 SF 270-store Florida Mall.  15 yrs NNN leased to Gregg Appliances Inc. (a regional, publicly traded company, NYSE: HGG) with 174 stores.  NOI $522K/yr. with rent bump every 5 yrs.  $6.33M.  8.25% cap.

5.      Fizzle’s Restaurant in Huntsville, AL: 4640 SF restaurant on 1 acre lot.  New 15 yrs NNN lease to a local chain with 4 locations.  NOI $84K/yr. $850K. 9.9% cap.

6.      Office Building in Redding, CA: 30,858 SF 2-story office building constructed in 1992 on 1.73 acres lot.  47% occupied by National University, Second Largest Private Non-Profit Institution of Higher Learning in CA. Current NOI $222K/yr. $3.15M. 7.06% cap.  Strong upside when 100% occupied.

7.      Advance Auto in Houma, LA: 7000 SF auto parts store built in 2008 on 2/3 ac lot in a growing city (18% since 2000) with good income (AHI $62K/yr).  15 yrs NNN- corp lease with 12 yrs remaining.  NOI $140K/yr. $1.783M. 7.9% cap.

8.      Sonic Drive-in in San Antonio, TX: 1100 SF restaurant built in 1999 on .56 ac lot. 100% NNN corp lease with 8 yrs remaining.  NOI $54K/yr.  just $771K. 7% cap.

9.      Walgreens in Fresno, CA: 14,820 SF drug store built in 2004 on 1.86 acres corner lot in affluent area (AHI $114K/yr in 1 mile) of the city.  25 yrs NNN lease with about 20 yrs remaining.  NOI $381K/yr. $5.45M. 7% cap.

10.   Strip Center in Longwood, FL: 4669 SF 2-tenant strip center on .46 ac lot in high visible intersection in Orlando metro.  100% NNN leased to 2 regional/national tenants: Amscot Financial (15 yrs corp lease) and metro PCS. NOI $155K/yr. $1.75M. 8.9% cap.

(c) Transmercial 2011

02-15: Medical Office Buildings, Shopping Center, Sonic, Office Building for sale

1.      Medical Office Building in Austin, TX: 42,767 SF medical office building on 2.16 acres lot in main Austin medical district.   Near Seton medical center in wealthy area with AHI  $96K/yr in 1 mile.  98% occupied with 97% medical tenants.  NOI $584K/yr. $6.8M.  8.6% cap.

2.      Shopping Center in Glendale, AZ: 34,673 SF recently built shopping center on a major road in Phoenix metro.  Anchored by Family Dollar store.  Pro forma NOI $360K/yr. $2.75M.  13% (pro forma) cap.  Priced below replacement cost.

3.      Retail center in Orland Park, IL: 20,974 SF 10-unit retail center on 1.63 acres lot in high income (AHI $82K/yr) Chicago suburbs.  90% leased.  Pro forma NOI $219K/yr. $2.595M. 8.5% cap.

4.      Sonic Drive-in in San Antonio, TX: 1100 SF restaurant built in 1999 on .56 acre lot.  100% NNN corp lease with 8 yrs remaining.  NOI $54K/yr.  Just $771K.  7% cap.

5.      Tire Kingdom Auto Center in Brunswick, GA: 9500 SF auto service center renovated in 2008.  100% NNN leased till 2019.  NOI $132K/yr with 7% rent bump every 5 yrs.  $1.508M. 8.5% cap.

6.      Office Building in Houston, TX: 144,149 SF 6-story class B office building on 2.4 acres lot in middle-class Clear Lake area.  Near University of Houston in Clearlake and just East of Johnson Space Center.  Six-level access-controlled parking garage with designated VIP and visitor parking. 88% occupied.  $14M. 11% cap.

7.      Strip center in Arlington, TX: 14,050 SF retail center on 1.254 acres lot on State Hwy 360 in stable Dallas metro.  100% NNN leased to 4 tenants, 2 of them medical with long term leases.  NOI $179K/yr. $1.875M. 9.59% cap.

8.      Strip Mall in Edinburg, TX: 10,700 SF strip mall on a pad in front of Wal-mart in fast growing McAllen metro (57% since 2000).  Adjacent to The University of Texas - Pan American (enrollment 17,534).  88% NNN lease.  Current NOI $170K/yr. $2.125M. 8% cap.  Upside when 100% leased.

9.      Medical Office Building in Aurora, IL: 10,000 SF multi-tenant medical office building near Provena Mercy medical Center in Chicago suburbs.  NOI $96K/yr.  $1.2M. 8% cap.

10.   Shopping Center in Port Arthur, TX: 24,089 SF 5-yrs-old shopping center adjacent to Wal-mart Supercenter in Oil refineries town 1.5 hrs from Houston.  86% leased to CATO Fashion, Curves for Women, Check N Go, Dollar Tree, JP Morgan Chase Bank, Nail Salon, and Shoe Show.  Current NOI $259K/yr. $2.883M.  9% cap.

© Transmercial 2011.