Wednesday, February 19, 2014

02-05: Long John Silver's, Burger King, Anytime Fitness, Walgreens, Strip Center



  1. Shopping Center in Lighthouse Point, FL: 27,928 SF well maintained shopping center along Hwy-1 in high income Fort Lauderdale suburbs. Close to Pompano Citi Centre, an open-air Mall. 100% leased. NOI $455K/yr. $6.1M. 7.47% cap.
  2. Long John Silver’s in Rockwall, TX: 2818 SF franchised seafood restaurant constructed in 1990 on .46 ac lot in growing and high income Dallas suburbs. On/off ramp of I-30. Brand new 10-yrs NNN lease to experienced franchisee with over 153 units. NOI $80K/yr with 10% rent increases every 5-yrs. $1.103M. 7.25% cap.
  3. Burger King in Euclid, OH: 4330 SF drive-thru fast food restaurant built in 2003 on .80 ac outparcel to Dave’s grocery center in Cleveland suburbs. Close to Euclid Hospital. 100% absolute NNN ground lease (land for sale) with 9+ yrs left to world’s largest franchisee with over 575 units. NOI $62K/yr with 12% rent bump in 2018. $1.09M. 5.75% cap.
  4. Anytime Fitness in Sparks, NV: 4790 SF attractive fitness center built in 2008 on .60 ac lot in high income ($81K/yr in 1 mile) Reno suburbs. 100% NNN lease with 3 yrs left. NOI $76K/yr with a 3% rent bump in 2016. $932K. 8.25% cap. 
  5. Strip Center in Los Angeles, CA: 2400 SF strip center built in 1990 at a corner location in densely populated area with over 1.2M residents in a 5 mile radius. 100% NNN leased to  Subway, GA Insurance, and Boost Mobile. NOI $54K/yr. $988K. 5.50% cap.
  6. Walgreens in Sun City, AZ: 16,520 SF drive-thru drug store on 1+ ac lot at a signalized corner location in Phoenix metro. 100% NNN lease with 7-yrs left. NOI $285K/yr. $3.935M. 7.25% cap.

            (c) Transmercial 2014

Tuesday, February 18, 2014

02-04: Big Lots, Chuck E Cheese's, MOB, Shopping Centers



  1. Shopping Center in Humble, TX: 64,785 SF shopping center built in 2007 on 7+ ac lot at a hard corner location in high income Houston suburbs. 95% NNN leased to retail & medical tenants. NOI $1.134M/yr. $14.595M. 7.77% cap.
  2. Big Lots (S&P BBB-) in Chico, CA: 24,370 SF retail building between Target and Toys “R” Us in fast growing area in Northern CA. Across from Chico Mall and close to Hwy-99. 100% absolute NNN lease. NOI $178K/yr. $2.75M. 6.50% cap.
  3. Strip Center in Cedar Park, TX: 5400 SF attractive strip center built in 1997 on .69 ac lot in growing and upper middle-class Austin suburbs. 100% leased to four tenants. NOI $123K/yr. $1.6M. 7.70% cap.
  4. Chuck E Cheese’s in Orlando, FL: 11,728 SF entertainment center on 1.57 ac lot at a major retail artery. Near Hwy-4. Tenant has been at this location since 1998. 100% NNN lease with 5 yrs left. NOI $99K/yr. $1.282M. 7.75% cap.
  5. Shopping Center in Las Vegas, NV: 30,000 SF shopping center on 2.43 ac lot in densely populated area. Near Meadows Mall and Hwy-95. 92% leased. NOI $270K/yr. $3.6M. 7.50% cap.
  6. Retail Center in Aurora, CA: 32,138 SF recently renovated in 2013 on 2.56 ac outparcel to 62,400 SF H-Mart grocery in growing Denver suburbs. 92% NNN leased. NOI $388K/yr. $4.9M. 7.93% cap.
  7. Retail Center in Spring, TX: 29,507 SF attractive retail center completed in 2007 on 3+ ac lot in growing (75.27% pop growth since 2000) and high income (AHI $94K/yr in 3 mile) Houston suburbs. 93% NNN leased. NOI $425K/yr. $4.9M. 8.48% cap.
  8. MOB in Jacksonville, FL: 20,754 SF Class-A medical office building on 2 ac lot close to St. Vincent’s Medical Center Southside and I-95. 100% NNN leased to Vascular Access Center, Physicians Online, Protection One and Medimix. NOI $206K/yr. $2.75M. 7.50% cap.
  9. Shopping Center in Memphis, TN: 35,502 SF shopping center along Hwy-64. Near Wolfchase Galleria Mall and I-40. $2.15M. NOI/Cap N/A.

            (c) Transmercial 2014

02-03: CVS, Mixed-use, Lone Star Steakhouse, Burger King, First Choice ER



  1. Shopping Center in Euclid, OH: 46,679 SF shopping center renovated in 2010 on over 2 ac lot in Cleveland suburbs. Anchored by 11,200 SF Dollar Tree and 12,259 SF Citi Trends. 89% NNN leased.  Actual NOI $347K/yr. $3.3M. 10.54% actual cap.
  2. CVS in Nashville, TN: 10,855 SF established CVS Pharmacy on 1+ ac lot at a signalized intersection near Southern Hills Medical Center. 20-yrs NNN- lease with 2-yrs left. NOI $174K/yr. $2.1M. 8.29% cap.
  3. Office Building in Lawrence, KS: 13,868 SF Class-A office building on 1.58 ac lot in growing and affluent area with an AHI $117K/yr. 100% NNN corp leased with 5-yrs left to ARRIS Group, a telecommunications equipment manufacturing company that provides cable operators with high-speed data, video and telephony systems. NOI $291K/yr with 2.3% increases every 2-yrs. $3.429M. 8.50% cap.
  4. Mixed-use in Morrisville, NC: 19,257 SF attractive retail/office building constructed in 2000 on 2.53 ac lot in fast growing and high income (AHI $97K/yr in 1 mile) Raleigh suburbs. 71% leased. Actual NOI $199K/yr. $2.25M. 9% cap.
  5. Lone Star in Rockford, IL:  6397 SF Lone Star steakhouse on .92 ac outparcel to Target and Hobby Lobby 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.
  6. Retail Center in Magnolia, TX: 15,318 SF attractive retail center along main corridor in fast growing and affluent Houston suburbs with an AHI of $158K/yr in 3 mile radius. 100% NNN leased to Texas Beer Garden, Re/Max Hometown, Cleartone Hearing, The Speech Spot and the Autism House. 8.25% cap. NOI/Price N/A.
  7. Burger King in Machesney Park, IL: 3501 SF recently renovated fast food drive-thru restaurant on 1.34 ac outparcel to Machesney Park Mall. Tenant has been at this location since 1986. Newly signed lease extension with 19-yrs absolute NNN ground lease (land for sale). NOI $55K/yr with 10% rent increases every 5-yrs. $880K. 6.25% cap.
  8. First Choice ER in Colleyville, TX: 6000 SF freestanding emergency room renovated in 2013 on .81 ac lot in fast growing and affluent (AHI $123K/yr) Fort Worth/Dallas suburbs. Along Hwy-121.  10-yrs NNN lease. NOI $198K/yr 10% rent bump in year 6. $2.943M. 6.75% cap.

            (c) Transmercial 2014

Friday, February 14, 2014

1-31: Advance Auto, Apartments, Strip center, distrssed retail center


  1. Advance Auto Parts in San Antonio, TX:  7000 SF AAP built in 2004 on 1.17 ac lot.  100% NN leased till 2019. NOI $107K/yr with 8% rent bump to $116K/yr in Aug 2018. $1.54M. 7% cap now and 7.56% in Aug 2014. 
  2. Shopping Center in Saint Louis, MO: 24,000 SF shopping center built in 2003 on 3.19 ac lot in well-off area.   Adjacent to Walgreens. Pro forma NOI $366K/yr. $3.9M. 9.4% pro forma cap. 
  3. Apartments in Colorado Springs, CO: 54-unit well-kept apartments on 2.21 ac lot with swimming pool and new roof.  NOI $188K/yr. $2.2M. 8.58% cap. 
  4. Hardee's in Mobile, AL: 2972 SF 10-yrs old fast food restaurant on 1.79 ac lot in middle-class area.  Across the street from a Kohl’s and 16 screen Carmike Cinemas movie theatre. New 15 yrs NNN lease to an operator with 95 locations.  NOI $72K/yr with 10% rent bumps every 5 yrs. $1.2M. 6% cap.
  5. Strip mall in Fredericksburg, VA: 8000 SF strip mall on 1.5 ac outparcel to a shopping center with Food Lion supermarket, Aldi and AutoZone.  High income area.  100% leased to 4 tenants.  NOI $207K/yr. $2.3M. 9% cap. 
  6. Distressed Retail center in Buford, GA: 11,100 SF retail center built in 2006 on 2.9 ac lot in Atlanta metro with AHI of $103K/yr in 1 mile. 68% leased to 6 tenant with 2 avail units.  NOI $90K/yr. $1.125M. 8% cap. Upside potential. 
  7. Shopping Center in Fishers, IN: 23,608 SF upscale shopping center on 3.45 ac lot next to Target supercenter just off of I-69 in high income Indianapolis area. 93% leased to Visionworks, Sun Tan City, Supercuts, Mathnasium, Sola Salons, Jet's Pizza.  NOI $345K/yr. $3.95M. 8.75% cap. 
  8. Multi-family in El Cajon, CA: 9-unit multifamily on .28 ac lot in highly desirable San Diego with AHI of $90K/yr in 1 mile.  Pro forma NOI $64K/yr. $1.05M. 6.12% cap.

(c) Transmercial 2014

Thursday, February 13, 2014

01-30: First Choice, Wendy's, DaVita, KFC/A&W, Tuffy Auto, Children of America



  1. First Choice ER in Mesquite, TX: 6514 SF freestanding emergency room renovated in 2013 on over 1 ac lot in fast growing Dallas suburbs. Close to Town East Mall and I-635. 10-yrs absolute NNN lease with over 9-yrs left. NOI $182K/yr with 10% rent bump in yr 6. $2.703M. 6.75% cap.
  2. Retail Center in Stuart, FL: 9000 SF attractive retail center on 1+ ac lot in high income Port St Lucie metro. All units face Hwy-1/5. 100% leased. NOI $90K/yr. $1.291M. 7% cap.
  3. Wendy’s in Clermont, FL: 3048 SF well maintained Wendy’s in Orlando suburbs. Close to South Lake Hospital and next to Hwy-27. 20 yrs NNN lease with 18 yrs left to a strong franchisee with 40 units. NOI $107K/yr. $1.783M. 6% cap.
  4. DaVita in Edwardsville, IL: 3742 SF Class-B dialysis center completed in 2008 in high income St. Louis suburbs with an AHI of $84K/yr in 3 mile radius. 10 yrs NNN lease till 2024. NOI $63K/yr. $959K/yr. 6.57% cap.
  5. KFC/A&W in Portland, OR: 2311 SF dual branded fast food restaurant on .60 ac lot at a signalized corner location. Close to Easton Plaza, anchored by Theater and Walmart. Near I-205. 100% NNN leased with 10+ yrs left. $110K/yr. $1.841M. 6% cap.
  6. Tuffy in Aurora, IL: 3900 SF 3-bay auto center built in 2007 on .75 ac lot in growing and affluent area with an AHI of $137K/yr in 1 mile. 20-yrs NNN corp lease with 13-yrs left. NOI $106K/yr with 10% rent bumps every 5 yrs. $1.524M. 7% cap.
  7. Children of America in Powell, OH: 10,482 SF attractive day care facility on 3.61 ac lot in prosperous Columbus metro with an AHI of $134K/yr in 3 mile radius. 100% NNN- lease with 14-yrs left. NOI $230K/yr. $2.6M. 8.88% cap.
  8. Office Building in Waldorf, MD: 23,028 SF high quality construction office building completed in 2009 on .66 ac lot in high income Washington DC suburbs. Across from 981,000 SF Saint Charles Towne Center. NNN leased. NOI $384K/yr. $4.8M. 8% cap.
  9. MOB in Kingwood, TX: 42,289 SF Class-A consisting of two medical/professional office buildings in fast growing Houston suburbs. Adjacent to Kingwood Medical Center and close to I-69. 100% NNN leased. 7% cap. NOI/Price N/A.

            (c) Transmercial 2014