06-07: Precision Collision, Jiffy Lube, Verizon Wireless, LA Fitness, Denny's

1. Precision Collision in Issaquah, WA: 7002 SF well kept auto repair center remodeled in 1994 at a busy corridor in growing and affluent Seattle suburbs. Close to Swedish Medical Center and I-90.  Recently executed 10 yr NNN- corp lease to ABRA Auto Body & Glass with 172 stations nationwide. NOI $127K/yr with 8% rent bump in 5 yrs. $1.83M. 7% cap.
2. Apartments in Rancho Cordova, CA: 96-unit apartment complex on nearly 4 ac lot in growing Sacramento suburbs. Amenities include: controlled access gate, swimming pool and laundry facility. Close to parks, shopping centers, hospital and Hwy-50. 90% occupied. NOI $300K/yr. $5M. 6% cap.
3. Jiffy Lube in Peoria, AZ: 3584 SF three-bay auto center built in 1997 in densely populated Phoenix metro. 15 yrs absolute NNN lease with 9 yrs left to strong operator with 50 units. NOI $105K/yr with 10% rent increases every 5 yrs. $1.325M. 8% cap.
4. Retail Center in Las Vegas, NV: 10,742 SF attractive retail center built in 2007 on ½ ac lot with easy ingress/egress. 100% NNN leased to five tenants. NOI $150K/yr. $1.999M. 7.50% cap.
5. Strip Center in Las Vegas, NV: 5,099SF well maintained strip center at a hard corner location in fast growing area. Close to I-515. 100% leased to Check City, Smoke Shop, Text & Web Wireless, Golden Cake and El Compita. NOI $66K/yr. Only $799K. 8.29% cap. Great for 1^st time investors.
6. Office Building in Santa Rosa, CA: 41,520 SF Class-B office buildings in middle class area North of San Francisco. Close to Coddingtown Mall and Hwy-101. 100% leased to six tenants. NOI $549K/yr. $6.4M. 8.59% cap.
7. Verizon Wireless in Indianapolis, IN: brand new 2,433 SF Verizon Wireless on .80 ac lot in upper middle-class area. Across from Kroger grocery center.  New 10 yr NNN- lease to the largest Verizon Wireless franchisee in the U.S. NOI $116K/yr with 10% rent bumps every 5 yrs. $1.6M. 7.26% cap.
8. LA Fitness in Houston, TX: 45,000 SF newly constructed fitness center on 3+ ac lot along main retail corridor in high income area. Across from 162,000 SF Wooldlake Shopping Center. New 15 yrs NNN lease. NOI $900K/yr with rent bumps every 5 yrs. $12.413M. 7.25% cap.
9. Denny’s in North Pekin, IL: 4700 SF Denny’s restaurant on 2.39 ac lot in growing Peoria suburbs. 100% lease to a long term operator. Near I-474. $1.95M. 10% cap.
10. Retail Center in Fresno, CA: 20,000 SF attractive retail center on 3 ac lot at a hard corner location. 90% NNN leased. NOI $245K/yr. $3.5M. 7% cap.

© Transmercial 2013

06-06: Home Depot, ABRA Auto body, Apartments, MOB

1. Retail Center in San Rafael, CA: 4091 SF well maintained retail center at a main corridor in affluent (AHI $116K/yr in mile) town just North of San Francisco.  84% leased to 6 long term tenants with only one vacancy. $1.35M. NOI/Cap not provided.
2. Shopping Center in Kenosha, WI: 24,065 SF shopping center consisting of two retail buildings completed in 2004 on 3.64 ac lot in growing (82.15%) and high income (AHI $90K/yr in 3 mile) in Milwaukee/Chicago suburbs. Across from Woodman’s Market, near Gander Mountain, Best Buy, Steinhafels and I-94. 100% NNN leased to national & credit tenants. NOI $582K/yr. $7.522M. 7.75% cap.
3. Home Depot in Orange Park, FL: 108,578 SF Home Depot on over 11 ac lot in Jacksonville suburbs. Next to Target, across from Orange Park Mall and near I-295M. 100% leased. NOI $1.187M/yr. $14.48M. 8.20% cap.
4. Retail Center in Vista, CA: 16,932 SF consisting of two high quality constructed retail centers completed in 2001 on 1.81 ac lot at a main retail corridor in San Diego suburbs. NOI $249K/yr. $4.225M. 5.91% cap.
5. ABRA Auto Body in Kenosha, WI: 22,066 SF auto repair center built in 1999 on 1.77 ac lot in upper middle-class area. 100% NNN- corp lease with 7 yrs left. NOI $180K/yr with a 5% rent bump in 2015. $2.261M. 8% cap.
6. Retail Center in Gastonia, NC: 9973 SF eye-catching retail center built in 2004 on 1+ ac lot in Charlotte suburbs. Close to 919,557 SF Westfield Eastridge and I-85. 100% NNN leased to Talbots, Facet Foundry Jewelry and Aeroflow Healthcare. NOI $154K/yr. $1.987M. 7.80% cap.
7. Apartments in Santa Cruz, CA: 16-unit well maintained apartment complex close to Downtown and Santa Cruz Beach Boardwalk. 100% occupied. NOI $125K/yr. $1.88M. 6.70% cap.
8. Retail Center in Cameron Park, CA: 10,437 SF retail center built in 2005 on 1.54 ac outparcel to Food 4 Less in fast growing and high income Sacramento suburbs. Along Hwy-50.  86% NNN leased to 4 tenants. Pro forma NOI $235K/yr. $2.925M. 8.04% pro forma cap. Buyer to assume $2.226M loan at 6.12% interest rate.
9. Shopping Center in Miami, FL: 29,594 SF well kept shopping center on 2.68 ac corner lot in high income area. 92% leased. NOI $398K/yr. $5.35M. 7.44% cap.
10. MOB in Herriman, UT: 5030 SF Class-B medical office building completed in 2004 part of four building medical office plaza in fast growing and high income (AHI $80K/yr) Salt Lake City suburbs. 100% leased to 3 medical tenants. NOI $99K/yr. $1.1M. 9.09% cap.

© Transmercial 2013

06-05: Tire Plus, Church's Chicken, MOB, Retail Centers, Shopping Centers,

1. Retail Building in West Melbourne, FL: 8322 SF retail building constructed in 1998 on .95 ac lot along major retail corridor. Across from Melbourne Square Mall. 75% NNN leased to Tires Plus. NOI $131K/yr with 10% rent bumps in 2020 & 2025. $1.647M. 8% cap. Upside potential when fully leased.
2. Shopping Center in Chesterfield, MI: 52,340 SF well maintained shopping center at a corner location in growing and high income Detroit suburbs. NOI $515K/yr. $4.69M. 11% cap.
3. Church’s Chicken in Riverdale, GA: 2600 SF Church’s Chicken on .79 ac lot at a major corner location in Atlanta metro. New 15 yrs NNN lease to an experienced franchisee. This is a sale& leaseback investment. NOI $126K/yr with 10% rent increases every 5 yrs. $1.785M. 7.10% cap.
4. Retail Center in Fayetteville, GA: 12,150 SF attractive retail center in Atlanta suburbs. Close to Fayette Pavilion, a 1,528,192 SF power center. 100% NNN leased to Jamaican Country Kitchen, Cleansing Waters, American Fitness, Smoothie King and The Learning Station. NOI $139K/yr. $1.39M. 10% cap.
5. Retail Building in Lake Zurich, IL: 2995 SF retail building outparcel to TJ Maxx, Office Maxx, Petco, MC Sports and Trader Joe’s in Chicago suburbs. 100% NNN leased to FedEx and GameStop. NOI $87K/yr. $1.16M. 7.52% cap.
6. Strip Center in Tucson, AZ: 15,233 SF retail center built in 2008 on 1.5 ac lot at a main road in fast growing (109.99% pop growth) and high income (AHI $90K/yr in 1 mile) area. Next to Walgreen’s and close to I-10.  NOI $322K/yr. $3.747M. 8% cap.
7. Retail Center in Ewing, NJ: 7746 SF retail center on .90 ac corner lot anchored by 7-Eleven in Philadelphia suburbs. 86% NNN leased. Pro forma NOI $122K/yr. $1.232M. 9.96% cap.
8. Shopping Center in Schaumburg, IL: 38,313 SF attractive shopping center built in 2008 at a signalized intersection in high income (AHI $94K/yr in 3 mile radius) Chicago suburbs. Anchored by a 16,137 SF Aldi grocery Near Motorola’s World Headquarters with 7,000 employees. Close to I-90/I-290. 95% NNN leased. NOI $620K/yr. $7.75M. 8% cap.
9. MOB in San Juan Capistrano, CA: 10,444 SF Class-A medical office building as part of a larger medical office complex in an affluent South Orange county area with AHI of $127K/yr in 3 mile.  Easy access to I-5. 100% leased to multiple tenants. NOI $157K/yr. $2.872M. 5.50% cap.
10. Shopping Center in Milwaukee, WI: 27,382 SF well kept shopping center at a major retail artery anchored by O’Reilly Auto Parts. Close to I-94. 100% NNN lased to good tenant mix. NOI $238K/yr. $2.65M. 9% cap.

© Transmercial 2013

06-04: Walgreen's, Apartments, Taco Bell, Patriot Tire & Lube

1. Walgreen’s in Rancho Mirage, CA: 14,820 SF high quality constructed Walgreen’s built in 2007 on 1.65 ac lot at a signalized location. In growing and affluent community in Southern CA with an AHI of $121K/yr in 1 mile. 25 yrs absolute NNN corp lease with 19+ yrs left. NOI $510K/yr with rent bumps every 10 yrs. $9.73M. 5.25% cap.
2. Apartments in Indianapolis, IN: 378-units well-maintained apartment complex on nearly 25 acres of land. The site is well landscaped and includes four spring-fed lakes. Amenities include: community center, business center, swimming pool, fitness center, tennis court, sand volleyball court, on-site laundry facility, extra storage and available covered parking. Close to I-465. 98% occupied. NOI $1.069M/yr. $11.5M. 9.30% cap.
3. Taco Bell in Kissimmee, FL: 3,500 SF fat food restaurant on 1+ ac corner at the intersection of 2 major arteries in fast growing  Orlando metro. 20 yrs NNN lease with 4+ yrs left to strong franchisee with 20+ units. NOI $161K/yr with a 10% rent bump in 2014. $2.1M. 7.68% cap.
4. Walgreen’s in Littleton, CO: 15,093 SF Walgreen’s built in 2000 on 1.62 ac lot at a hard corner location in high income (AHI $101K/yr in 1 mile) Denver suburbs. 20 yrs NNN- lease with 7 yrs left. NOI $287K/yr. $4.415M. 6.5% cap.
5. Retail Building in San Jose, CA: 3096 SF well maintained retail building on busy Alum Rock Ave with easy access to I-680. 100% leased to two established tenants. NOI $49K/yr. $825K. 6% cap.
6. Apartments in Lancaster, CA: 60-unit 2-story apartments built in 1983 on 2+ ac lot in Los Angeles county. Controlled access with swimming pool, spa and gated parking. Pro forma NOI $283K/yr. $3.8M. 7.5% cap.
7. Retail Center in Fort Lauderdale, FL: 11,500 SF attractive retail center at main retail corridor. Across from new Kmart. 85% lased. NOI $105K/yr. $1.5M. 7% cap.
8. Shopping Center in Vero Beach, FL: 57,915 SF well kept shopping center at a hard corner location anchored by well performing Winn Dixie grocery. 98% leased to national/local tenants. NOI $512K/yr. $6.73M. 7.62% cap.
9. Retail Center in Massapequa, NY: 8,500 SF retail center in affluent (AHI $119K/yr within 3 mile radius) coastal city in New York metro. NOI $268K/yr. $3.35M. 8% cap.
10. Patriot Tire & Lube in Riverbank, CA: 6620 SF auto repair center on .75 ac lot at a main corridor in growing and high income (AHI $80K/yr in 1 mile) Modesto suburbs. 100% leased till 2017. NOI $78K/yr. $1.07M. 7.28% cap.

© Transmercial 2013

06-03: Hooters Restaurant Bar & Casino, CVS, Orchard Supply, MOB

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 loopnet, 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. CVS in Orlando, FL: 10,767 SF drive-thru drug store built in 1996 on .86 ac lot at a signalized location with good ingress/egress. Close to major power centers, Orlando Fashion Square and I-4. 20 yrs NNN- lease with 3+ yrs left. NOI $220K/yr. $2.846M. 7.75% cap. Strong & increasing sales revenue of $6.48M/yr in 2012 means tenant likely to renew lease.
2. Hooters & Casino in Spokane Valley, WA: 13,619 SF Hooters Restaurant Bar & Casino built in 2005 on 1.89 ac lot in growing area. Along I-90. Close to 1,580,678 SF Spokane Valley Mall. 100% absolute NNN lease with 5 yrs left. NOI $343K/yr. $4.4M. 7.80% cap.
3. Retail Center in Woonsocket, RI: 10,340 SF retail center built in 2004 on 2.45 ac lot. All units face main corridor. Across from grocery anchored center. 100% leased to 4 tenants. NOI $144K/yr. $1.8M. 8% cap.
4. Orchard Supply Hardware in Citrus Heights, CA: 43,579 SF well maintained single tenant retail building renovated in 2005 on 3.75 ac lot in growing Sacramento suburbs. Close to Sunrise Mall. 15 yrs NNN- corp lease with 7 left. NOI $546K/yr. $7.531M. 7.25% cap.
5. Shopping Center in Broken Arrow, OK: 28,450 SF shopping center on .86 ac lot in Tulsa suburbs. Major tenants include: CLS group, Bill & Ruth’s, Little Caesar’s and Eyemart Express. 85% leased. NOI 192K/yr. $2.2M. 8.75% cap.
6. Office Building in Mokena, IL: 12,500 SF Class-A office building on 1.75 ac lot in high income (AI $98K/yr in 1 mile) Chicago metro. 100% NNN leased to multiple tenants. NOI $198K/yr. $2.645M. 7.50% cap.
7. Shopping Center in Eagan, MN: 23,332 SF attractive shopping center built in 2005 in Minneapolis suburbs. Growing and affluent area with an AHI of $154K/yr within 1 mile. 89% NNN leased. 8.12% cap. Price/NOI not disclosed.
8. MOB in Scottsdale, AZ: 8070 SF Class-B medical office building on .65 ac lot in affluent (AHI $113K/yr) Phoenix suburbs. 86% leased to multiple tenants. NOI $114K/yr. $1.525M. 7.50% cap. Upside potential.
9. Neighborhood Center in Houston, TX: 50,204 SF consisting of two retail centers on 5.82 ac lot along major retail corridor. Next to new Walmart. 100% NNN leased. NOI $810K/yr. $9M. 9% cap.
10. Retail Center in Grand Prairie, TX: 10,000 SF retail center built in 2007 on 1.32 ac lot anchored by Starbucks and T Mobile in fast growing and high income Fort Worth/Dallas suburbs. Across from power center anchored by Ross Dress for Less, Grand Prairie Urgent Care, Marshalls, Target and Home Depot. $2.95M. NOI/Cap not provided.

© Transmercial 2013