- Shopping Center in Powell, OH: 25,099 SF 11-unit shopping center built in 2008 on 4.58 ac lot with good national, regional and local tenant mix in prosperous (AHI $131K/yr) Columbus MSA. 95% leased. NOI $585K/yr. $6.655M. 8.75% Cap.
- Retail Center in Cape Coral, FL: 6143 SF six-yrs old retail center at a major retail corridor. 100% leased to stable tenants. NOI $119K/yr. $1.5M. 8% Cap.
- Strip Center in Miami, FL: 15,773 SF recently renovated strip center anchored by Dollar General with excellent access to I-95. Shadow-anchored by Bravo Supermarket, a regional tenant with locations in 5 states. 100% leased. NOI $162K/yr. $1.75M. 9.27% Cap.
- Office Building in San Diego, CA: 16,600 SF well-maintained multi-tenant office building on 2.28 ac lot in densely populated area close to I-15. 100% leased to three tenants. NOI $224K/yr. $2.8M. 8% Cap.
- Office Building in San Diego, CA: 30,995 SF recently upgraded two-story multi-tenant office buildings close to I-508 and I-5. $4.450M.
- Shopping Center in Victorville, CA: 19,764 SF12-unit recently constructed shopping center adjacent to Wal-Mart Supercenter in fast growing Los Angeles suburbs. NOI $ 387K/yr. $4.4M. 8.8% Cap.
© Transmercial 2011
- 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.
- Jiffy Lube in Worth, IL: 2800 SF newly remodeled retail building at corner lot location and along busy corridor in Chicago metro. 100% NNN leased with 7 yrs left. NOI $74K/yr. $880K. 8.5% Cap.
- Retail Center in Costa Mesa, CA: 6988 SF well-maintained retail center in densely populated & affluent (AHI $129K/yr in 3 mile) coastal city . 100% leased. NOI $91K/yr. $1.467M. 6.25% Cap.
- Just Brakes in Arlington, TX:5382 SF single-tenant retail building on .94 ac lot in Dallas metro . Absolute NNN lease with 12 yrs remaining. NOI $120K/yr with rent bumps in year 5 and 10. $1.45M. 8.28% Cap.
- DaVita Dialysis Center in Saint Louis, MO:7312 SF medical building built in 1996 near Christian Hospital and I-270. 100% NNN lease with 12 yrs left and corp. guaranty. NOI $131K/yr with 2% annual rent increases. $1.732M. 7.6% Cap.
- Shopping Center in Colton, CA: 108,393 SF shopping center built in 1992 on 8.47 ac lot near I-215. Anchored by Ross Dress for Less, 99 Cents Only Storesand shadow-anchored by Wal-Mart Supercenter. 85% NNN leased. NOI $1.337M. $18.1M. 7.39% Cap. Buyer to assume $16.2MM loan at 6.18% interest.
- Shopping Center in Lakewood, CO: 53,262 SF well-kept shopping center on 4.31 ac lot anchored by Red Robin. 87% leased to many long term/stable tenants. NOI $675K/yr. $7.5M. 9% Cap.
Notice: For those who have signed up for the “How to Invest in Commercial Real Estate” seminar/webinar on 9/24/11, you should receive an email today with instruction how to attend the webinar. If we miss anyone, please advise.
- REO Shopping Center in Mesquite, TX: 58,093 SF shopping center on 5.61 ac lot shadow-anchored by Hobby Lobby and adjacent to Hwy-80 in growing Dallas/Fort Worth MSA. 82% leased. NOI $342K/yr. $3.81M. 9% Cap.
- Retail Center in Oceanside, CA: 19,315 SF retail center with great tenant mix: Rockin’ Baja Lobster, Lighthouse Bar and Grill and Harbor Fish & Chips. Next to the harbor and beach. 88% leased. NOI $459K/yr. $5.1M. 9% Cap.
- Saver’s in Hamburg, NY: 21,525 SF retail building on 2.86 ac lot close to McKinley Mall and next to I-90 in Buffalo metro. 10 yrs absolute NNN lease to Saver’s Thrift Store, a growing national tenant . NOI $286K/yr. $3.47M. 8.25% Cap.
- Car-X in Glen Ellyn, IL: 4500 SF auto service center on .8 acre lot in affluent (AHI $104K/yr) Chicago metro. Long term absolute NNN corp lease. NOI $81K/yr. $959K. 8.51% cap.
- Medical Office Building in El Paso, TX: 60,495 SF recently built Class-A multi-tenant medical building located on the Sierra Providence East Medical Center campus. 90% leased. NOI $629K/yr. $8.388M. 7.5% Cap.
- Strip Center in Grand Rapids, MI: 9647 SF strip center anchored by Starbucks and across from Woodland Shopping Center and Centerpointe Mall. Along a main retail corridor in a well-off and stable neighborhood. 100% NNN leased. NOI $278K/yr. $3.275M. 8.5% Cap.
- Shopping Center in Plantation, FL: 70,437 SF shopping center built in 1990 on 7.20 ac lot at a signalized intersection and close to Sawgrass Mills Mall. Anchored by Comp USA. 100% leased with excellent and historically stable tenant mix. Price/Cap not disclosed.
- Strip Center in Mesa, AZ: 10,270 SF strip center with 2 freestanding structures built in 2002. Shadow-anchored by Albertsons and across from Safeway in booming (150% since 2000) Phoenix suburbs. 100% NNN leased to 6-tenants including Chase and Starbucks. NOI $234K/yr. $2.8M. 8.4% cap.
- Dental Office in Fort Worth, TX: 5625 SF single-tenant office built in 2006. Adjacent to Wal-Mart and near Fwy-121. 12-yrs NNN lease to Jefferson Dental Clinicwith 38 locations. NOI $123K/yr. $1.375M. 9% Cap.
- Retail Building in San Jose, CA:2614 SF two-tenants retail building at a signalized intersection close to Hwy-101. 100% NNN leased to stable tenants. NOI $59K/yr. $750K. 7.8% Cap.
© Transmercial 2011.
- DaVita Dialysis Center in Plainfield, IN: 7475 SF dialysis center on 1.38 acres lot in growing & affluent (AHI $90K/yr in 1 mile) Indianapolis suburbs. 15 yrs NNN- with 12 yrs remaining. NOI $181K/yr with annual CPI based rent bumps of up to 3%. $2.267M. 7.98% cap. Recession insensitive tenant.
- Denny’s in Phoenix, AZ: 3893 SF restaurant built in 2004 on 1.19 ac lot across from Outlets at Anthem & next to I-17. 100% absolute NNN lease till 2031. NOI $100K/yr with 7% rent bumps every 5-yrs. $1.375M. 7.27% Cap.
- Shopping Center in The Woodlands, TX: 17,636 SF recently constructed shopping center on 2.63 ac lot along main corridor in affluent (AHI $122K/yr) Houston MSA. 87% NNN leased. NOI $304K/yr. $3.579M. 8.5% Cap.
- Toys “R” Us & Babies “R” Us in Irving, TX:55,824 SF recently renovated retail building on 6.41 ac lot in prime commercial corridor between I-635 and Hwy-114. 100% NNN corporate lease with 7 yrs left. NOI $901K/yr. $10.6M. $8.5% Cap.
- Shopping Center in Torrance, CA: 22,914 SF well-maintained shopping center anchored by 7-Eleven at highly visible/busy corner location in Los Angeles suburbs. 82% NNN leased. NOI $399K/yr. $5.95M. 6.71% Cap.
- Retail Center in Arlington Heights, IL: 5773 SF brand new retail center shadow-anchored by PetSmart, Trader Joe’s and Barnes & Noble across from Burlington Coat Factory. Upper middle-class (AHI $95K/yr in 1 mile) Chicago suburbs. New 10 yrs NNN leases to 3 tenants: Smashburger, Jersey Mike's and Caribou Coffee. NOI $173K/yr. $2.381M. 7.35% Cap.
- Shopping Center in San Antonio, TX: 34,300 SF attractive shopping center built in 2000 across from Target, Office depot, Lowes, and next to Loop-1604. Very affluent area with AHI of $125K/yr in 1 mile radius. 73% NNN leased. Actual NOI $400K/yr. $4.4M. 9.1% Cap. Pro forma NOI $602K/yr., 13.68% pro forma cap.
- Shopping Center in Killeen, TX: 58,300 SF shopping center built in 2000 on 12 ac lot next to Wal-Mart, Kohls and Lowe’s. 100% NNN leased, 98% spaces leased to national tenants. NOI $578K/yr. $6.8M. 8.5% Cap.
© Transmercial 2011.
Advisory: Just before S&P downgraded
the credit rating of the US government, there were various predictions that the
interest rates would go up as consequence. However, recent evidence shows
that the interest rates have instead gone down. A client was recently
offered 4.75% interest fixed for 10 yrs, 70% LTV financing for a single-tenant
property. This makes commercial real estate investments very appealing
now. For a 8% cap property, you will receive 8% return on your 30% down
payment. You will also receive 3.25% return on the 70% of money that you
borrow from the bank!
- Hometown Buffet in Denver, CO: 8613 SF restaurant built in 2002 on 1.44 acres outparcel to a shopping center anchored by Home Depot, Walmart, Sam’s Club, Office Depot, Big 5 Sports, and Ross. 20 yrs corp NNN lease with 12 yrs remaining. NOI $299K/yr. with 10% rent bump every 5 yrs. $3.148M. 9.5% cap.
- Shopping Center in Milwaukee, WI: 35,412 SF 15-unit shopping center on 4.5 acres lot on a major artery in high income area. 89% leased with 2 avail units. Current NOI $326K/yr. $3.85M. 8.5% cap. Upside potential when 100% leased.
- AutoZone in North Highland, CA: 6600 SF AutoZone built in 1998 on .52 ac outparcel to a shopping center anchored by Big Lots!, Big 5 Sports, Grocery Depot, dd’s Discount and Family Dollar in Sacramento metro. Tenant just renewed NNN ease till 2021. NOI $125K/yr. $1.95M. 6.41% cap.
- Strip Mall in Chula Vista, CA: 9194 SF 5-unit strip mall on .63 ac lot right next to I-805 in upper middle class area. NOI $212K/yr. $1.921M. 11.06% cap (Note: probably pro forma).
- Medical Office Building in Pearland, TX: 10,426 SF medical office building completed in 1996 on 2 acres lot in growing Houston suburbs. 100% leased to 2 medical tenants. NOI N/A. Just $995K/yr.
- Denny’s in Melbourne, FL: 4675 SF Dennys on .9 acre next to I-95 exit. 100% NNN leased till 2027 to an operator with 52 units. NOI $99K/yr with 4% rent bump in 2013 and 10% every 5 yrs thereafter. Store with strong $1.14M in sales revenue. $1.327M. 7.5% cap.
- La Petite Academy in Las Vegas, NV: 6740 SF childcare center built in 1991 on .52 ac lot. 100% NNN lease. Tenant just renewed 5 yr lease. NOI $85K/yr. $982K. 9% cap.
- Best Buy in Joplin, MO: 30,000 SF single-tenant retail center built in 2001 on 3.89 acres lot across from 100-store Northpark Mall. 15 yrs NNN lease with 5 yrs remaining. NOI $327K/yr. $3.55M. 9.23% cap.
© Transmercial 2011
- Apartments in Wichita, KS: 264-unit gated & well-kept apartments on 10.77 acres lot with 3 swimming pools, 2 tennis courts, volleyball court, fitness center, picnic areas and clubhouse in prestigious area. 90% occupied. NOI $805K/yr. $9.65M. 8.35% cap.
- Family Dollar in North Richland Hills, TX: 8000 SF Family Dollar store under construction in fast growing & strong income Dallas metro. 10 yrs NNN- corp lease to recession insensitive tenant. NOI $109K/yr. $1.367M. 8% cap.
- Walgreens in Aurora, CO: 17,548 SF Walgreens built in 1998 on 1.24 acres lot at a busy intersection in growing & good income area in Denver metro. 100% NNN- lease with 7 yrs left. NOI $334K/yr. $4M. 8.35% cap.
- Retail Center in Munroe Falls, OH: 30,000 SF retail center on 4.15 acres lot in stable middle class (AHI $78K/yr in 1 mile) Akron metro. Anchored by DSI Renal dialysis (acquired by DaVita on 9/6/11). 100% leased. NOI $170K/yr. $1.749M. 9.75% cap. Just $58/SF!
- Short-sale Office Building in Naples, FL: 18,000 SF 2-story 14-unit class-A office building next to I-75 exit in affluent city (AHI $115K/yr in 1 mile). 85% leased. NOI not avail. $1.95M.
- Short-sale Office Building in Naples, FL: 3-story class-A profession/medical office building next to I-75 in fast growing (128%) & wealthy (AHI $116K/yr in 1 mile) Fort Meyers metro. 75% leased. NOI not avail. $2.895M. Less than $100/SF!
- Shopping Center in Durham, NC:59,859 SF established shopping center in fast growing (63%) & middle class area. Anchored by 25,000 SF Carlie C’s(independent grocery chain with 14 locations) and 8787 SF Rite Aid. 84% leased. NOI $259K/yr. $2.2M.
- Medical Office Building in Mansfield, TX: 8916 SF class-A medical office building on 1.27 acres lot with hwy-287 frontage in fast growing middle class Dallas metro. 100% leased to an OBGYN and a dentist. NOI not avail. $2.2M.
- Advance Auto Parts in Eastpointe, MI: 7000 SF AAP built in 2008 on .88 ac lot in Detroit suburbs. 15 yrs NNN- corp lease. NOI $154K/yr. $1.839M. 8.4% cap.
- Jiffy Lube in Madison, WI: 4794 SF recently renovated Jiffy Lube on .35 ac corner lot in a stable upper middle class state capital city. 20 yrs absolute NNN lease with 10 yrs left. NOI $61K/yr. Just $720K. 8% cap. Great for 1sttime investors.
© Transmercial 2011.
- Shopping Center in Liberty Township, OH: 57,951 SF beautiful shopping center built in 2006 on 5.50 ac lot anchored by Kroger. Next to Children’s Hospitaland I-75 in growing & affluent (AHI $115K/yr) Cincinnati metro. 99% NNN leased. NOI $804K/yr. $10.4M. 7.74% Cap.
- Shopping Center in Lawrence, KS: 69,786 SF shopping center on 4.88 ac lot renovated in 2006. Close to University of Kansas and Kansas University Memorial Stadium in Kansas City suburbs. 100% NNN leased to 10-tenants. NOI $577K/yr. $6.42M. 9% Cap.
- Shopping Center in Matteson, IL: 61,437 SF well-maintained shopping center on 6.27 ac lot near I-57 andLincoln Mall in middle-class Chicago metro. Anchored by DaVita Dialysis . 96% NNN leased. NOI $925K/yr. $9.2M. 10.06% Cap.
- Petsmart in Bakersfield, CA: 34,879 SF retail building on 3.35 ac lot close to East Hills Mall and Fwy-178. 100% Absolute NNN lease. NOI $410K/yr. $5.467M. 7.5% Cap.
- Shopping Center in Los Angeles, CA: 13,050 SF two-story shopping center at a signalized corner location near I-710. Newly replaced roof/painted. 83% leased. NOI $224K/yr. $2.495M. 9% Cap. Buyer to assume $1.73M.
- Shopping Center in Ballwin, MO: 70,325 SF shopping center built in 1997 in affluent (AHI $119K/yr in 1 mile) St Louis suburbs. Anchored by DSW Shoe Warehouse, Planet Fitness and Family Dollar Store. Across from The Home Depot & Walmart anchored center. 100% leased. NOI $672K/yr. $6.9M. 9.75% Cap.
- Retail Center in Maplewood, MN: 16,582 SF attractive retail center with good tenant mix: Chipotle, Sprint, Fed/Ex Kinko’s and Firehouse Subs. Close to The Home Depot and next to busy boulevard in St Paul metro. 91% NNN leased. NOI $260K/yr. $3.35M. 7.78% Cap. Upside Potential!
- Professional Center in Oregon City, OR: 37,974 SF Class-B multi-tenant center in growing community. 82% leased by a variety of medical, legal and professional tenants. NOI $420K/yr. $5M. 8.41% Cap.
- Medical Office in Winter Spring, FL: 6000 SF Class-A multi-tenant medical office built in 2004 in Orlando metro. 100% NNN leased. NOI $128K/yr. $1.6M. 8% Cap.
© Transmercial 2011.
- Medical Office Building in Atlanta, GA: 45,988 SF 3-story 4-yrs old class-A medical office building on 2.29 acres across from Henry Medical center. 100% NNN leased to 10 medical tenants. NOI $803K/yr. $10M. 8% cap.
- Shopping Center in South Milwaukee, WI: 27,483 SF shopping center in good income area. 100% NNN leased to 3 brand name tenants: Aldi Food Market, Dollar Tree, and Little Caesars. NOI $321K/yr. $4.259M. 7.5% cap.
- Medical Office Building in Rancho Mirage, CA: 49,889 SF 2-story medical office building constructed in 2008 on 3.15 acres lot in growing & affluent community (AHI $130K/yr in 1 mile radius). 82% NNN long-term leased to 2 medical tenants: Rancho Mirage Surgery Center and RadNet Imaging (NASDAG: RDNT). Current NOI $1.28M. $16M. 8% cap. Upside potential when 100% leased.
- Walgreens in Tucson, AZ: 15,525 SF Walgreens built in 1996 on 1.96 acres corner lot n growing area with good income. 100% NNN- lease with 5 yrs remaining. NOI $249K/yr. $2.933M. 8.5% cap. Buyer to assume $1.783M loan matured in 2033 at 6.25% fixed rate till 2018 (note: the long-term loan suggests the lender is confident Walgreens will stay here for a long time). Sales volume over $6M/yr.
- Medical Retail Center in Spring, TX: 17,369 SF mature retail center in affluent Houston suburbs (AHI $96K/yr in 1 mile). 88% NNN leased to 6 tenants, 5 of them medical. Current NOI $162K/yr. $1.709M. 9.5% cap. Upside potential when 100% leased.
- AutoZone in Pomona, CA: 6050 SF AutoZone on .79 acre lot in densely populated city in Los Angeles. 100% NNN leased till 2023. NOI $135K/yr. $2.248M. 6% cap.
- Apartments in Fort Worth, TX: 49-unit apartments on 1 acre lot in high income area (AHI $76K/yr). 92% occupied. NOI $130K/yr. $1.795M. 7.29% cap.
- Strip Center in Dania Beach, FL: 6500 SF strip center on busy Hwy 1 in Fort Lauderdale metro. 100% leased. NOI $88K/yr. $1.1M. 8% cap.
© Transmercial 2011.
- 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.
- Neighborhood Center in Lake Jackson, TX: 34,969 SF 14-unit center on 3.44 ac lot. Shadow-anchored by Kohl’s. 92% NNN leased to 12 tenants including: Famous Footware, Lane Bryant, Sally Beauty Supply, Edward Jones, Quest Diagnostic, Cricket Communication. High income town 30 minutes South of Houston. NOI $518K/yr. $6.48M. 8% Cap.
- Office-R&D in Hollywood, CA: 40,315 SF recently renovated two-story highly improved audio post production facility on 1.32 ac lot. Affluent Hollywood Media District with AHI of $113K/yr in 1 mile. 100% NNN lease till 2018 to renowned sound post operator CSS Studios, LLCa wholly owned subsidiary of Discovery Communications, Inc. (Nasdaq: DISCA. The facility has won numerous Academy Awards for sound including The Bourne Ultimatum, Dreamgirls, Chicago, Black Hawk Down, Gladiator, Saving Private Ryan, Apollo 13, Speed and ET, Extra Terrestrial. NOI $1.057M/yr with 3% annual rent increases. $12.4M. 8.74% Cap.
- Retail Center in Houston, TX: 15,524 SF inline retail center shadow-anchored by Kroger and close to Fwy-290. 87% leased with several national tenants: Wells Fargo, Jackson Hewitt Tax Service, Ace Cash Express and Rainbow Fashion. NOI $220K/yr. $2.2M. 10% Cap.
- Neighborhood Center in Rocky Hill, CT: 109,000 SF multi-tenant center renovated in 2005 on 8.80 ac lot. 83% leased to 3 long-term tenants: Porter & Chester Institute, Davita Dialysis and Namco. Current NOI $894K/yr. $11.175M. 8% Cap.
- Black-Eyed Peas in Colorado Springs, CO: 5570 SF well-performing single-tenant family restaurant on 1.33 ac lot next to I-25 and adjacent to Hilton Place, Super 8, La Quinta, Days Inn and more. 100% NNN absolute NNN lease. NOI $156K/yr. $1.950M. 8% Cap.
© Transmercial 2011.
- Shopping Center in Orlando, FL: 49,200 SF 12-unit shopping center built in 2008 on 5.45 acres lot in high-growth area. Anchored by HH Gregg Appliance (NYSE: HGG). Part of a shopping center co-anchored by Walmart Neighborhood market and Sam’s Club. 95% NNN leased. NOI $726K/yr. $9M. 8.07% cap.
- Sports Authority in Moreno Valley, CA: 40,000 SF single-tenant retail center built in 2008 on 3.35 ac lot. Adjacent to Moreno Valley Mall, Lowe’s and Costco. Easy access to I-215 and hwy 60. 100% NNN corp lease with 9 yrs left. NOI $670K/yr. $7.98M. 8.4% cap.
- Distressed Shopping Center in Lithonia, GA: 37,730 SF 13-unit upscale shopping center built in 2002 on 4.28 acres lot across from the Mall at Stonecrestin high growth & high income Atlanta metro. 68% NNN leased with 3 vacant units. Pro forma NOI $577K/yr. $3.775M. 15.29% Pro forma cap.
- Burlington Coat Factory in Garden Grove, CA: 83,746 SF single-tenant retail center in densely populated city in Orange county (over 800K residents in 5 miles radius). Easy access to hwy 22. 100% leased to Burlington Coat Factory. NOI $628K/yr. $8.38M. 7.5% cap.
© Transmercial 2011.