09-07: Walgreen's, Medical & Professional Office, Neighborhood Centers

1. Bankruptcy sale - Neighborhood Center in Bakersfield, CA: 100,736 SF 27-unit shopping center built in 2009 on 12.54 acres of land. Anchored by 42,000 SF Vallarta Supermarket (chain with 27 locations in CA), Family Dollar and a free-standing 3900 SF McDonald’s. 78% leased. NOI $1.074M/yr. Unpriced, just make offer.
2. Strip Center in Toledo, OH: brand new 10,470 SF strip center anchored by Dollar Tree. Next to I-80/90. Expected completion date Nov 2012. 86% NNN leased. NOI $86K/yr. $959K. 9% cap. Upside potential.
3. Shopping Center in Warren, MI: 38,300 SF well maintained shopping center on 4+ ac lot anchored by drive-thru Rite Aid. Across from 352-bed St. John’s Macomb-Oakland Hospital. Rite Aid plans to remodeled by 10/12, $200K estimated cost to Rite Aid. 92% leased to 6 tenants. NOI $347K/yr. $3.475M. 10% cap.
4. Walgreen’s in Chicago, IL: 12,154 SF drug store built in 1999 at a hard corner location in densely populated area (900+K residents within 5 mile radius). Area with high barrier to entry.100% NNN leased with 7 yrs left. NOI $371K/yr. $5.05M. 7.35% cap.
5. Shopping Center in Santa Maria, CA: 97,555 SF shopping center constructed in 1996 on 7.52 acres of land anchored by FoodMaxx supermarket, CVS pharmacy and Factory 2-U. ¼ mile from the on/off ramp Hwy-101 in Santa Barbara county. 95% NNN leased. NOI $1.183M/yr. $15.775M. 7.50% cap.
6. Medical & Professional Office Building in Chicago, IL: 7440 SF well maintained medical/professional office building on .23 ac lot at a busy signalized location. 95% leased to stable tenants. $1.05M. NOI/Cap not provided.
7. Retail Center in Grove City, OH: 8800 SF retail center built in 2003 in fast growing Columbus metro. Close to Giant Eagle, CVS and I-71 100% leased. NOI $110K/yr. $1.3M. 8.50% cap.

© Transmercial 2012

09-06: Burlington Coat Factory, Walgreens, Shopping Centers

1. Shopping Center in The Woodlands, TX: 21,327 SF beautiful shopping center built in 2007 along main retail corridor in fast growing & affluent Houston suburbs. Close to St. Luke’s Woodlands Hospital and I-45. 100% NNN leased to 9 tenants. NOI $441K/yr. $5.412M. 8.15% Cap.
2. Shopping Center in Boise, ID: 68,997 SF shopping center renovated in 2005 & anchored by Dollar Tree at high traffic location. Close to St Alphonsus Regional Medical Center, Boise Towne Square and I-184. 90% leased. NOI $788K/yr. $9.858M. 8% cap.
3. Shopping Center in Boise, ID: 20,348 SF14-units well maintained shopping center on 2.76 ac in high income area (AHI $84K/yr in 1 mile). Shadow anchored by outparcel to Albertson’s grocery. 88% leased with 1 vacant space. NOI $231K/yr. $2.727M. 8.50% cap. Buyer to assume $1.44M at 5.89% interest rate.
4. Retail Center in Waukegan, IL: 14,180 SF retail center built in 2005 on 1.19 ac lot across from 115,000 SF Big Kmart anchored center in Chicago metro.  100% NNN leased to: O’Reilly’s Auto Parts, Nail Pro and Xpert Insurance Agency.  NOI $301K/yr. $2.825M. 10.67% cap.
5. Burlington Coat Factory in Bettendorf, IA: 79,158 SF single-tenant retail building on nearly 7 acres of land at I-74 on/off ramp. 10 yrs NNN corp lease with 6½ yrs left. NOI $608K/yr with rent increases every 5 yrs. $7.606M. 8% cap.
6. Walgreens in Baytown, TX: 13.905 SF drug store built in 1999 on 1.50 ac lot in Houston suburbs. Near Baytown Medical Center, Jacinto Medical Group, Baytown Urgent Care and San Jacinto Methodist Hospital. 20 yrs NNN corp lease with 8 yrs left. NOI $259K/yr. $3.463M. 7.50% cap.
7. Strip Center in Montebello, CA: 6770 SF strip center built in 2006 on .52 ac lot at a signalized corner location in a densely populated city in Los Angeles. 100% NNN leased to 3 tenants. NOI $235K/yr. $3.05M. 7.75% cap.
8. Shopping Center in Sioux Falls, SD: 21,375 SF shopping center on 2.47 ac lot in affluent (AHI $94K/yr) neighborhood. 90% NNN leased to Dareo’s Pizza, The Club, East Central Grain Commodities, Saigon Panda, Beryzoka Grocery, Village Hair & Spa, Edward Jones Investments, HealthWise Chiropractic, Vallet Cleaners, Athena’s Gallery and Olga’s Alterations. NOI $164K/yr. $2.235M. 7.37% cap.

© Transmercial 2012

09-05: Bank, MOB, Advance Auto, Retail centers

1. Retail Center in Raytown, MO: brand new 5400 SF retail center on 1+ ac outparcel to Aldi along Hwy-350. Across from HyVee grocery anchored center. 100% NNN leased to 3 national tenants: Chipotle, Game Stop and Jimmy John’s. NOI $131K/yr. $1.82M. 7.25% cap.
2. Shopping Center in Lawrenceville, GA: 54,250 SF high quality construction shopping center built in 2005 on 7.78 acres of land anchored by LA Fitness in fast growing and high income Atlanta suburbs. Across from 1,200,000 SF Discover Mills Mall and close to I-85. 90% leased. NOI $800K/yr. $10.5M. 7.63% cap.
3. Strip Center in Porterville, CA: 3620 SF strip center built in 2007 on .40 ac lot at the intersection of 2 major arteries in San Joaquin Valley.  100% NNN leased to 3 credit tenants: Starbucks, QC Financial and Subway.  NOI $138K/yr. $1.895M. 7.3% cap.
4. Strip Center in Albuquerque, NM: 14,724 SF retail center along main thoroughfare in growing and affluent (AHI $147K/yr) area. Tenants include: Subway, State Farm Insurance, Dog Grooming, Triple Threat Performing Arts, MESH Hair Salon, Curves and Lifescapes Spa. 87% NNN leased. NOI $136K/yr. $1.395M. 9.74% cap.
5. Strip Center in Norwalk, CA: 9946 SF well maintained strip center on .83 ac lot near I-5 in densely populated city in Los Angeles. Area with high barrier to entry. 100% NNN leased. NOI $165K/yr. $1.99M. 8.30% cap.
6. Four Oaks Bank in Garner, NC: 6400 SF building on .84 ac lot in Raleigh metro.  The property is being used as a bank branch for Four Oaks Bank with 15 locations and its regional office. 15 yrs NNN lease with 10+ yrs left.  NOI $151K/yr with generous 2.5% annual rent bumps. $1.875M. 8% cap.
7. MOB in Vero Beach, FL: 10,000 SF attractive medical office building constructed in 2002 on nearly 2 ac lot. 100% NNN leased to 2 medical tenants: a 6500 SF surgery center and 3500 SF medical office. NOI $231K/yr. $2.887M. 8% cap.
8. Retail Center in Yukon, OK: 25,680 SF retail center in Oklahoma city metro. Tenants include: Subway, Hunan Express, Supercuts, Ultimate Vision, Daylight Donuts, VIP Cleaners, Nail Expo, T&T Tailor and Relax Massage. Across CVS Pharmacy and near I-40. NOI $207K/yr. $2.7M. 7.70% cap.
9. Advance Auto Parts in Riverview, FL: 7000 SF retail building constructed in 2004 on 2+ ac lot along US Hwy-301 in Tampa metro. Across Pubix anchored center and close to Wal-Mart. 100% NNN- corp lease with 8 yrs left. NOI $90K/yr. $1.242M. 7.25% cap.
10. Office Building in Auburn, CA: 13,296 SF Class-B office building near I-80 in middle-class Sacramento suburbs. NOI $140K/yr. $1.625M. 8% cap. 

© Transmercial 2012

09-04: Advance Auto Parts, Arby's, Fresenius Dialysis Center, Auto Mall Center, Wendy's

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. 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 $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. Advance Auto Parts in Arlington, TN: 7000 SF Advance Auto Part on .98 ac lot next to Hwy-64 in high income Memphis suburbs. 100% NNN lease with over 10 yrs left. NOI $74K/yr. $1.083M. 6.85% cap.
2. Arby’s in Blaine, MN: 3946 SF restaurant built in 2004 on 1.25 ac lot in growing Minneapolis metro. Across from Kohl’s and Menards hardware store. 20 yrs absolute NNN corp lease with 12 yrs left. NOI $172K/yr with 1% annual rent increases. $2.3M. 7.51% cap.
3. Fresenius in Olympia Fields, IL: 11,925 SF Fresenius Dialysis Center constructed in 2005 on over 1 ac lot along main retail corridor in high income Chicago suburbs. Tenant recently executed a 10-yr lease renewal after the expiration of primary term. NOI $225K/yr with 3% rent increases every 2 yrs. $2.916M. 7.75% cap.
4. Cancer Center in Indianapolis, IN: 15,721 SF single-tenant medical office building completed in 1998 on 2.46 ac lot next to Community Hospital South.  100% NNN leased till May 2021 to Indiana University Health, a nationally recognized health care organization with an A+ credit rating. NOI $428K/yr. $5.039M. 8.5% cap.
5. Shopping Center in Tualatin, OR: 30,671 SF retail center built in 1990 on 4.18 ac lot close to I-5 exit in Portland metro.  NOI $595K/yr. $7.7M. 7.73% cap.
6. Auto Mall Center in Lauderhill, FL: 19,436 SF auto mall center consisting of three buildings at primary retail thoroughfare in Fort Lauderdale metro. 84% leased to Aamco, Oily’s, Tires Plus, Tint World, and Auto Lab. NOI $225K/yr. $2.925M. 7.70% cap.
7. Wendy’s in Hemet, CA: 3800 SF Wendy’s restaurant built in 2002 on .48 ac outparcel to Target & Staples. Across from Home Depot. Tenant has been 10 yrs at this location on a NNN corp ground lease and has just renewed 5 yrs option (land is for sale, tenant owns the building).  NOI $71K/yr. with 10% rent bumps each 5 yr options.  $975K. 7.33% cap.

© Transmercial 2012.

08-31: Arbys, Jiffy Lube, Walgreens, MOB, Best Western

1. Arbys in Fort Worth, TX: 3040 SF restaurant built in 2009 on .8 ac outparcel to Target in high income area (AHI $94K/yr in 1 mile).  20 yrs NNN lease till 2029 with corp guaranty.  NOI $159K/yr.  with rent bumps every 5yrs.  $2.275M. 7% cap.  
2. Jiffy Lube in Las Vegas, NV: 4075 SF Jiffy Lube built in 2006 on .48 ac lot in high growth (991% since 2000), high income (AHI $87K/yr) area.  100% absolute NNN lease till 2026 to an operator with almost 500 locations.  NOI $125K/yr. $1.795M. 7% cap.  
3. Walgreens in Marina Del Rey, CA: 11,209 SF drug store on .48 ac lot in densely populated & affluent coastal city.  20 yrs NNN- lease with 12 yrs left.  NOI $653K/yr. $10.883M. 6% cap. 
4. MOB in Katy, TX: 29,367 SF class-A 2-story medical office building on 2.86 ac lot directly adjacent to Christus St. Catherine Hospital in affluent Houston suburbs (AHI $158K/yr in 1 mile).  Easy access to I-10.  100% leased.  7.5% cap.  Unpriced but listing broker expects to sell between $4.6-5M.  
5. Best Western Hotel in Tolleson, AZ: 60 room hotel near I-10 exit.  Being converted to Best Western.  Amenities include swimming pool and spa, fitness center, business office center, breakfast area and meeting room.  NOI $360K/yr. $3.6M. 10% cap.

© Transmercial 2012