What is Impact Investing?

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Impact and Social InvestingYou may have been hearing the words "impact investing" or "social investment". If you care only about making money, read no further. If you care about making a positive difference in the world while making money, read on.

Using for-profit impact investments to solve social problems.

Here is decent video from Forbes featuring the authors of Impact Investing: Transforming How We Make Money While Making a Difference. This new breed of "investment" achieves social and environmental good while earning an investor a decent return. Formerly, donations were the main way to make a difference while having some financial incentive. Now, you can do good and get a good return simultaneously.

I see opportunities for Impact Investing in Real Estate by purchasing properties that are occupied by tenants whose business practices you support (i.e. Goodwill or Whole Foods), buying a green or LEED building, or doing redevelopment projects on existing buildings (i.e. adaptive reuse or historic preservation).

Impact Investments: Transforming How We Make Money While Making a Difference

A ground-breaking book on the transformative power of impact investments: Impact Investing Book

This is the first book to chart the catalytic path of Impact Investing, explaining how it is and can be a positive disruptive force. It shows how impact investments are a transformational vehicle for delivering "blended value" throughout the investment spectrum. Written by two leaders in the growing field of impact investing, the book defines the emerging Impact Investment industry for participants on all sides of the funding equation (investors, funders and social entrepreneurs).

What types of impact and social investments would you consider? What rate of return would you require?

Learn More about Impact Investing in Real Estate

featured img credit: SOCAP

Pride of Ownership with Walgreens Real Estate

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Here is a great video I found on You Tube showing Walgreens new prototype store in NC.  Walgreens, of course, always has the best locations and corners in their respective markets.  Their buildings have also been some of the nicer buildings on the strip but this new store format takes it several steps further. Owning a net leased Walgreens property like this is not only a great long term passive investment but also has pride of ownership.

I like the new look. What do you think?

Buy a NNN Walgreens Property

General Contractors: Wimco Corp. | Washington, NC Developer: GHK Developments Inc. | New Orleans, LA

Why are drug dealers the best tenants?

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Owning commercial investment property is a great pleasure especially when you have good solid tenants.

Marijuana pays the rent.

In Denver and California commercial retail property owners have found that "pot dispensaries" have filled vacant spaces in the down economy.

"Looking at California, the pioneer state of medical marijuana, shows how great the demand really is for medical marijuana. One study reported that Los Angeles county alone has over 800 marijuana dispensaries."

But the "high" does not last forever.

Considering pot is still illegal, it may be time to find another tenant.

What about a drug dealer that has $72 billion in revenue and a S&P rating of A?

This is not your back alley drug dealer. This drug dealer in on busiest corners. Has well lit parking lots. Incredible signage. Is open 24 hours an has 7,830 stores worldwide.

This drug dealer is Walgreens.

As a commercial property investor looking for long term passive income, you have to consider a Walgreens.  Walgreens typically signs 75 year leases.  Walgreens has the best locations. Walgreens leases are true triple net meaning the landlord has NO responsibilities. Absolutely none.  The owner sits back and deposits the monthly rent.

Triple Net Walgreens range from $4M to $12M and easily produce a 6%+ annual yield for an all cash purchase. Non-recourse financing is easy to obtain especially at 60% or less LTV at sub 5% interest rates which can increase the overall annual yield to 8% or better.

Here are some triple net Walgreens currently for sale around the US.  Contact TMO for more information on any of them or to set up a free no-obligation real estate investment consultation.

Walgreens NNN Real Estate For Sale

Walgreens NNN PropertyWalgreens NNN Real Estate

  • PA
  • $6,770,000
  • Cap Rate: 6.50%

Absolute-Net Lease of 75 years. "A" Credit Rating by Standard and Poors.

walgreens real estateWalgreens NNN Property

  • OK
  • $4,950,000
  • 6.61% cap rate

Located in the Oklahoma City MSA, Investment grade tenant, Over 22 years remain on lease, Adjacent to I-40 interchange

walgreens investmentWalgreens Triple Net Property

  • FL
  • $10,915,000
  • Cap Rate 6%

Rare rent increase, absolute NNN lease, daily traffic count exceeds 44,500

walgreens net leasedWalgreens Triple Net Real Estate

  • FL
  • $3,304,000
  • 5.75%

75 years simple Ground lease, irreplaceable corner location

walgreens NNN for saleWalgreens Net Leased Property

  • IL
  • $5,578,000
  • 7.35%

Established Walgreens Location Operating Since 1957. 60 Years Lease - Strong Store Sales. Less than One-Mile from Advocate Trinity Hospital.

Great NNN real estate.

Contact TMO about these NNN Walgreens. Toll free 1.866.539.1777 or e-mail.

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BUYER WANT: seeking new construction Walgreens for 1031 Exchange

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Walgreens NNN PropertyMy client is seeking new construction Walgreens for an upcoming 1031.  Please contact TMO with deals that match the following:

  • Walgreens anywhere in US
  • lease commencement in trailing 12 months OR upcoming in next 6 months
  • entire US
  • any price range
  • fee simple
  • no broker daisy chains

Please email TMO, connect on twitter @andrusmorgan or call 1-866-539-1777

Is there a NNN property want we can help you with?  We help triple net investors find and buy the best NNN properties in the US.  Contact TMO today for a free no-obligation NNN investment consultation: email TMO, connect on twitter @andrusmorgan or call 1-866-539-1777

BUYER WANT: single tenant NNN $2M to $7M for 1031 Exchange

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Looking for single tenant NNN deals anywhere in US.  Client will be in 1031 shortwalgreens NNN for salely and would like one property in $6-7M range but would maybe split among two properties. NNN purchase criteria:

-price: $2M to $7.2M -deliverable cap rate 7% or better -single tenant -S&P rated tenant -NNN or NN only -ideally 10 or more years left on lease

Please email TMO, connect on twitter @andrusmorgan or call 1-866-539-1777

These Passive Investments Pay You to Golf

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Every wish you were a golf pro or could get paid to golf? Get paid to do what you love.

At some point we all wish we could get paid to do what we love.  (see: doing what you love while getting paid) Does it matter where the money comes from?  Do you have to be Tiger Woods to get paid while you play golf?  No.  You can get paid by other sources while playing golf.

Passive investments allow you to be "passive" and collect money from the investments.  A business is active and Tiger Woods is a business.  He has to work to make money.  He has to show up.  He has to perform.  Then he collects.

Tiger does have many passive parts to his business like his endorsements which allow him to collect money while doing other things besides playing golf.  Regardless of his golf performance or his tabloid success Tiger Woods will be able to collect passive income for life just because he is Tiger Woods.

Unfortunately, you are not Tiger Woods.

However, you can still get paid to play golf.  Consider these passive real estate investments.  These triple net properties require little or no management and will pay you while you play golf, they will pay you while you travel, even pay you while you eat and sleep.  The leases are triple net so the tenant takes care of pretty much everything and you collect the rent check.... while doing what you love.

These triple net properties pay you to do what you love.

Contact TMO for more details on passive real estate investments like these triple net properties:

NET LEASED PROPERTIES for saleLowe's Net Leased Property $6,665,000 Excellent location across from a Walmart anchored retail corridor,Average Household income of $83,141 in 5mile radius,Absolute net lease, Attractive assumable financing requiring only $1.4M.

 

net leased propertyFedEx Net Leased Property $6,000,000 Cap rate 7.23% Fifteen (15) Year Lease, FedEx Corporate Guarantee (BBB), Expandable Facility

 

net leased propertyhhgregg Net Leased Property $6,143,000 8.50 % Situated on Major Retail Corridor with Over 78,000 Vehicles Daily, Irreplaceable Retail Location with Outstanding      Residual Value, Growing, Publicly Traded Regional Retailer with 174 Store Network

net leased propertyOrchard Supply Hardware Net Leased Property $11,110,000 Cap Rate 7.5% Rent increase by 11% in 2014, Primary lease, The Kroger Co - S&P rated BBB, Assumable $7.5 million loan

 

Starbucks Plaza Net Leased Property $4,604,000 8.20% Cap Rate 100% Occupied Strip Center with historically low vacancy. Mix of national, regional and local tenants, heavily Trafficked, Signalized Intersection Location.

net leased propertyNational Tire and Battery Net Leased Property $ 3,668,000 Cap Rate: 7.50% Brand New 20-Year Lease with National Tire and Battery.Cpi increases every Five year with max of 12 persent. New sweven year lease with American mattress. average household income in 1 mile radius - $129,000. over 11800 resident in 5 miles.

Contact TMO for more details on any of the above passive investments and net leased NNN property deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan

Buy a NNN Property

Deals are a sampling of available NNN inventory from around the US and are for reference only.

 

JUST CLOSED: TMO has $3M+ week

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real estate investmentsIt was a good week at TMO Inc! TMO sold two investment properties to two separate real estate investors: $2,455,000 net leased TSC in Arkansas

and

$655,000 single family investment house in Willits/El Jebel, Colorado

Both investors purchased for the low risk cashflows and passive income that investment real estate provides. For more information on these sales or to set-up a free no obligation real estate investment consultation with TMO please email or call 1.866.539.1777

Or visit these helpful pages:

Basalt Real Estate

Willits and El Jebel Real Estate

Net Leased Property

NNN Properties

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So.... you want to be a real estate investor? Read this first

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Experience is the best teacher but these real estate books are cheaper.

Here are some of my favorite real estate books. I happily recommend these to anyone who is thinking about getting into owning their own properties and even if you already own properties. If I can answer any questions about why I like which ones, please fire away in the comments section below.

My favorite real estate books:

Am I missing any real estate books, real estate investing books, real estate investment books and/or real estate development books?

Walgreens NNN For Sale

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Walgreens real estate remains a highly sought after NNN investment.  Walgreens provide long term stable cash flows usually on an absolute net lease basis with no landlord responsibilities. Walgreens has a S&P credit rating of "A". Here are several NNN Walgreen deals I have come across in my buyer searches over the past few weeks.  Please email or call me at 1.866.539.1777 for additional information on any of these NNN Walgreens for sale.

walgreens NNN for saleWalgreens NNN For Sale Litchfield, IL $4,511,200 6.65% cap rate 14,820 Square Feet, Minutes from Lake Lou Yaeger, Excellent Hard Corner Location with High Visibility, Adjacent to Litchfield Plaza Shopping Center, Irreplaceable Litchfield Location, Adjacent to Hampton Inn and Holiday Inn.

walgreens real estateNNN Walgreens For Sale Hutchinson (Wichita), KS $4,945,000 Price 7.00% cap rate Over Fifteen (15) years remaining on Twenty-Five (25) year NNN lease fully leased and guaranteed by Walgreen Co. (S&P: A),  7.87% Average Yield.

walgreens investmentWalgreens NNN Affluent Westchester County $11,455,000 6.40% cap rate Offered free & clear, but many great loans available,Prime New York Metro real estate, Mature suburb of New York City

walgreens net leasedWalgreens Investment New York, NY $6,538,461 6.50% cap rate Located adjacent to Hartwick College, a prominent private college in the region,Strong credit tenant - Walgreen Co. (S&P A/Stable)

Walgreens NNN PropertyWalgreens NNN For Sale Phoenix Metro $5,500,000 5% cap rate Trophy asset, 10% rental increase every 10%, America's #1 Drug store, Excellent demographic

 

Contact TMO for more details on any of the above Walgreens NNN properties and net leased NNN property deals via email or phone at 1.866.539.1777.

Deals are a sampling of available Walgreen NNN inventory from around the US and are for reference only. Subject photos may not be actual location and are representative of Walgreen locations in general.

NNN for sale - deals of interest

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During the past few weeks I have been working hard evaluating NNN deals for several NNN buyer clients.  We have looked at many NNN properties for sale across the US.  In the process, I put together this short list of NNN for sale that may be of interest to you as well. Call or email me if you would like for information on these NNN for sale properties.  1.866.539.1777 NNN for saleCHASE NNN for sale in Texas $5,000,000 contact for cap rate The property is 100% leased to JPMorgan Chase Bank, N.A. on a brand new Twenty (20) year lease with Four (4), Five (5) year renewal options. The lease has built-in rental increases of 10% every Five (5) years through the base term and renewal options.

Advance Auto Parts NNN for sale in IL $1,520,400 7.25% cap rate Newly constructed property in 2011, 10% rent escalation in primary term, Long term lease of 15 years Located in primary retail trade area featuring Target, Home Depot and Lowe's

P.F. Chang's Corporate Ground NNN for sale in AZ $2,715,000 contact for cap rate Excellent traffic count - 108,000 vehicles per day on 1 - 10. Close proximity to major National and Regional retailers

Carl’s Jr. NNN for sale in Multiple Location, NV $2,100,000 7% cap rate Long Term 20 years NNN Leases, Rental increase every 5 year, Premier corner, Carl’s JR. is the 4th largest burger chain in America.

Verizon Wireless NNN for sale in SC $5,150,000 8.56%
 cap rate 100% leased to 3 national tenants, Traffic count exceeds 30,000 cares per day, Over 50,000 residents in 3 mile radius.

 

Contact TMO for more details on any of the above passive investments and net leased NNN property deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan

Deals are a sampling of available NNN inventory from around the US and are for reference only.

Passive Investments: 5 Net leased deals that caught my eye

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Here are 5 Net leased deals that caught my eye this past week as great passive investments.... Starbucks Weslaco, TX $1,120,000 7.5% "BBB+" Credit Rating, Out parcel to 191,000 SF Ross & Bealls Anchored Center

NNN Strip CenterNNN AT&T Strip Center Raleigh, NC $4,744,800 Colliers International presents for sale the fee simple interest in a retail shopping center, Arco Commons (“Property”), located in Raleigh, North Carolina.

NNN Office BuildingAutoZone Office Building Elk Groove, CA (Sacramento) $15,700,000 6.64% Autozone Net Leased Office Building Guranteed by AutoZone, Inc (NYSE: AZO). S&P Rated BBB investment In Rent Class A Build-to-Suit Completed in 2009. Mission Critical Facilty-Headquarter of ALLDATA,Wholly Owned Subsdiary of Autozone.

AT&T Zachary, LA $19,03,000 8% 10 Year Lease (2011 Construction) 10% Increase Every Five year "A" Standart and Poor Credit Rating

Whirlpool Distribution Building Omaha, NE $2,200,000 8.75% Incredible location in one of Omaha’s top Industrial park’s near 96than L street.

Contact TMO for more details on any of the above passive investments and net leased NNN property deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan

Deals are a sampling of available NNN inventory from around the US and are for reference only.

Who pays Closing Costs? State by State Guide

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Closing costs differ around the United States.

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Closing costs including title insurance are usually based on local custom where the property is located.  Yes, this is negotiable but in most cases, even if the Buyer and Seller are in different states, the parties pay closing costs based on the customs and traditions in the county where the property is located.

Here is a great State by State guide to real estate closing costs and who pays title insurance.  Again, this differs in every transaction and is usually negotiated by the Buyer and Seller in the deal unless it is mandated by state law.  The following list is via Closing costs around the United States www.miadomo.com.  Photo credit Doug Francis Virgina Realtor.

Closing costs around the United States

This is a general reference guide. Contact a local title company, real estate attorney, lenders or private escrow companies who handle closing in your state for specific information.

Alabama

Buyers and sellers negotiate who's going to pay the closing costs and usually equally split them.

Alaska

Buyers and sellers negotiate who's going to pay the closing costs and usually equally split them.

Arizona

The seller customarily pays for the owner's policy, and the buyer pays for the lender's policy. They split escrow costs otherwise.

Arkansas

The seller customarily pays for the owner's policy, and the buyer pays for the lender's policy. They split escrow costs otherwise.

California

Not only do escrow procedures differ between Northern and Southern California, they also vary from county to county. Contact local title company for a specific information.

Colorado

Closing costs are generally paid by real estate agent. Sellers pay the title insurance premium and the documentary transfer tax.

Connecticut

Buyers pay for examination and title insurance, while sellers pay the documentary and conveyance taxes.

Delaware

Buyers pay closing costs and the owner's title insurance premiums. Buyers and sellers share the state transfer tax.

District of Columbia

Buyers pay closing costs, title insurance premiums, and recording taxes. Sellers pay the transfer tax.

Florida

Buyers pay the escrow and closing costs, while county custom determines who pays for the title insurance. Sellers pay the documentary tax.

Georgia

Buyers pay title insurance premiums and also closing costs usually. Sellers pay transfer taxes.

Hawaii

Buyers and sellers split escrow fees. Sellers pay the title search costs and the conveyance tax. Buyers pay title insurance premiums for the owner's and lender's policies.

Idaho

Buyers and sellers split escrow costs in general and negotiate who's going to pay the title insurance premiums.

Illinois

Buyers usually pay the closing costs and the lender's title insurance premiums and the state and county transfer taxes.

Indiana

Buyers pay closing costs and the lender's title insurance costs, while sellers pay for the owner's policy.

Iowa

Buyers and sellers share the closing costs; sellers pay the documentary taxes.

Kansas

Buyers pay the lender's policy costs and the state mortgage taxes, sellers pay for the owner's policy.

Kentucky

Sellers pay closing costs; buyers pay recording fees, responsibility for payment of title insurance premiums varies from county to county.

Louisiana

Buyers pay the title insurance and closing costs.

Maine

Buyers pay the title insurance and closing costs, buyers and sellers share the documentary transfer fees.

Maryland

Buyers pay the title insurance, closing costs and transfer taxes.

Massachusetts

Buyers pay the title insurance, closing costs, except in Worcester where sellers pay.

Michigan

Buyers pay the lenders title insurance premiums and, closing costs, and sellers pay the state transfer tax and the owner's title insurance premiums.

Minnesota

Buyers pay the lender's and owner's title insurance premiums and the mortgage tax/ Sellers pay the closing fees and the transfer taxes.

Mississippi

Buyers and sellers negotiate the payment of title insurance premiums and closing costs. There are no documentary, mortgage or transfer taxes.

Missouri

Buyers and sellers generally split the closing costs. Sellers in western Missouri usually pay for the title insurance policies, while elsewhere the buyers pay.

Montana

Buyers and sellers split the escrow and closing costs, sellers usually pay for the title insurance policies.

Nebraska

Buyers and sellers split escrow and closing costs, sellers pay the state's documentary taxes.

Nevada

Buyers pay the lender's title insurance premiums, sellers pay the owner's and the state's transfer tax.

New Hampshire

Buyers pay all closing costs and title fees except for the documentary tax, that's shared with the sellers.

New Jersey

Both buyer and seller pay the escrow and closing costs. The buyer pays the title insurance fees, and the seller pays the transfer tax.

New Mexico

Both buyer and seller pay the escrow and closing costs, sellers pay for the insurance premium.

New York

Buyers generally pay most closing costs, including all title insurance fees and mortgage taxes. Sellers pay the state and city transfer taxes.

North Carolina

Buyers and sellers negotiate the closing costs, except that buyers pay the recording costs and sellers pay the document preparation and transfer tax costs.

North Dakota

Buyers pay for the closing, the attorney's opinion, and the title insurance, sellers pay for the abstract.

Ohio

Buyers and sellers negotiate closing costs, but sellers pay the transfer taxes.

Oklahoma

Buyers and sellers share the closing costs, except that the buyer pays the lender's policy premium, the seller pays the documentary transfer tax, and the lender pays the mortgage tax.

Oregon

Buyers and sellers split escrow costs and transfer taxes, the buyer pays for the lender's title insurance policy and the seller pays for the owner's policy.

Pennsylvania

Buyers pay closing costs and title insurance fees, buyers and sellers split the transfer taxes.

Rhode Island

Buyers pay title insurance premiums and closing costs, sellers pay documentary taxes.

South Carolina

Buyers pay closing costs, title insurance premiums, and state mortgage taxes, sellers pay the transfer taxes.

South Dakota

Sellers pay the transfer taxes and split the other closing costs, fees and premiums with the buyers.

Tennessee

The payment of title insurance premiums, closing costs, mortgage taxes, and transfer taxes varies according to local practice.

Texas

Buyers and sellers negotiate closing costs.

Utah

Buyers and sellers split escrow fees, and sellers pay the title insurance premiums.

Vermont

Buyers pay recording fees, title insurance premiums, and transfer taxes.

Virginia

Buyers pay the title insurance premiums and the various taxes.

Washington

Sellers pay the title insurance premiums and the "revenue" tax, buyers and sellers split everything else.

West Virginia

Buyers pay the title insurance premiums and sellers pay the documentary taxes and the divide the other closing costs.

Wisconsin

Buyers pay closing costs and the lender's policy fees, sellers pay the owner's policy fees and the transfer taxes.

Wyoming

Buyers and sellers negotiate who's going to pay the various closing costs and title insurance fees.

To buy real estate forms, please look at MiaDomo's legal forms section or our real estate forms links.

How to Select the Best Triple Net Broker

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Given that a net-leased investment typically costs millions of dollars, finding a good triple net broker is particularly important. Working with a good triple net broker will give you better access to inventory, better financing, and a better investment result. Here are a few things to look for in your quest for a top-line triple net broker. Fundamental Knowledge Many of the triple net broker firms in the market lack a solid understanding of the fundamentals of an NNN investment. Look for a triple net broker who knows the difference between a double net, a triple net, and a "true" triple net lease. Your triple net broker should also understand the credit rating system, as this will help them, and you, measure the risk of a given tenant.

Access to Inventory A strong NNN broker will have a large and diverse inventory consisting of a mixture of their own listings as well as properties offered by other triple net broker companies and off-market deals. This will let you choose from a number of different properties to find the right mix of lease terms, lease length, and tenant quality.

Access to Financing A good triple net broker knows that the lender can make or break the deal. As such, you should look for a triple net broker who either has an in-house commercial mortgage broker or a strong relationship with an outside broker. Your triple net broker should also understand the many different financing options available, including bank financing, life insurance financing, conduit debt and the "CTL" credit tenant lease programs that provide long-term fixed rate debt for NNN assets.

Client-Focused Business Your triple net broker should take some time to get to know you and your goals. They should then show you appropriate property. If, for instance, you express a desire to have long-term stable income and your triple net broker shows you properties with five or fewer years remaining on the lease, you may want to select someone else. Watch for a NNN broker who does not attempt to saddle you with more debt than you want. Although some debt carries a number of benefits, it also carries risk, and a good triple net broker will help you strike the right balance.

Experience Your triple net broker should have a few deals under his or her belt. Although some of the most active triple net broker teams in the company focus on seller representation, there are a large number of good buyer representatives who have amassed a large resume of experience. Work with a triple net broker like that, and if they have a well-respected designation, like CCIM, that is an additional plus.

Contact TMO to find out more about the benefits of Triple Net Leased Real Estate Investments. 1.866.539.1777

Who auctions real estate?

Most auctions are bank owned and foreclosures right? Wrong... I learned from and interesting set of stats from CIRE magazine.  21% of real estate auctions are now carried out online and the largest type of real estate auction is from private investors.

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NET LEASED PROPERTIES for sale

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These net leased properties caught my eye and would make great investments.  Please contact me for more details:  email or 1.866.539.1777NET LEASED PROPERTIES for sale from around the U.S.

NET LEASED PROPERTIES for saleJared - Galleria of Jewelry net leased NNN property $1,915,789 9.50% cap Baton Rouge, LA New 20 year absolute NNN lease. Zero Landlord responsibilities. Scheduled 10% increase every 5 years.

NET LEASED PROPERTIES for saleLowe's Home Improvement net leased NNN property Dayton MSA, Ohio $12,057,000 6.75% cap The property is 100% leased to Lowe's Home Improvement. As of January 29, 2010, Lowe's Home Improvement had total revenue of more than $47.2 billion, a net income of approximately $1.78 billion and a net worth in excess of $19 billion. Lowe's Home Improvement currently holds an A+ rating with Standard & Poor's.

NET LEASED PROPERTIES for saleCVS Pharmacy Ground Lease net leased NNN property Southwick, MA ( Springfield ) $2,750, 000 6% cap rate New 25 year Absolute NNN Lease. 100% free simple interest. Scheduled 5% rent Increase every 5 year. S&P BBB+ Investment Grade Credit. Hard Corner Location.

CVS packages Tampa, FL $27,939,871 7% cap rate Three-2 store NNN CVS Packages. Both stores must be bought together in each package. Below market financing must be assumed (matures June, 2015)

Contact TMO for more details on any of the following net leased NNN property deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan

Deals are a sampling of available NNN inventory from around the US and are for reference only.

JUST CLOSED: $2.6M Trailer Park in Colorado

I was going to create my own press release but the Steamboat Springs newspaper beat me to it (see below).  TMO represented the buyer KTH Enterprises LLC who purchased the trailer park as a long term income producing investment.  The park produces an annual yield of about 8.5%.

STEAMBOAT SPRINGS

Five months after it was listed for sale for $3.2 million, the Sleepy Bear Mobile Home Park on Steamboat Springs’ far west side has sold to a Carbondale couple for $2.6 million. Cheri Chartier, a representative of buyers Tom and Karen Hill, said their intent is to continue operating Sleepy Bear as a mobile home park.

The 6.6-acre, 54-lot park is immediately west of Ski Town Campground and directly across from what would have been the primary entrance to the Steamboat 700 development had Steamboat voters not rejected it in March 2010.

via Steamboat Today: Sleepy Bear Mobile Home Park sells for $2.6 million.

This week's NNN deals

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TMO has scoured the NNN market this week and has sifted through hundred's of triple net properties. Here are the top five NNN deals worth taking a look at for your triple net investment. Contact TMO for more details on any of the following deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan KFC Quincy, Florida $1,075,900 Cap Rate: 7.25%

Walgreen’s Chicago, IL $7,238,800 Cap Rate: 6.7%

Gold’s Gym Grand Junction, CO $10,825,000 Cap Rate : 8.25% Built in 2007, this 53,640 gym will offer a brand new 15year NNN upon close of escrow, including three 5year options and rental escalations every 5years during the base term and annually during the option periods. One of the highest performing Gold's Gyms in the state if not the country. Located just south of a WalMart Super Center, Sam's Club, Golden Corral Buffet, Office Max and GameStop

Brand New Verizon Wireless Retail Store Jacksonville, FL $1,312,400 Cap Rate: 9.00 % * Strong Tenant Cellular Sales of Knoxville, Inc. has 400+/ Units * Corner Location Opposite Corners are Walgreens, CVS/pharmacy, and Compass Bank * Brand New 10Year Lease with Growing Tenant * Ten Percent Increase Every Five Years

Family Dollar Stores, Inc. Saginaw, Michigan $768,750 Cap Rate : 8.00% * Ten (10) Year NN lease with approximately 5.5 years remaining in base lease term * Four (4), Five (5) year renewal options still in place offering * Attractive 10% rent increases every Five (5) years

Contact TMO for more details on any of the following deals via email or phone at 1.866.539.1777 or twitter @andrusmorgan

Deals are a sampling of available NNN inventory from around the US and are for reference only.

TMO sells $2.24M net leased Tractor Supply

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NNN Net Leased Property TMO is pleased to have represented a private investor in the purchase of a NNN leased Tractor Supply property in Sweetwater, TX.  The all cash transaction closed in under 30 days for $2,242,500 at a cap rate of 8%.

Buy a Tractor Supply NNN Property

"Tractor Supply (TSCO) is a great reliable tenant with a solid business model which provides my client with peace of mind for years to come." says Thomas Morgan, CCIM.  "TSC's may be in smaller markets but that is where their customers are and they serve the rural farming towns perfectly.  Compared to a NNN Walgreens or fast food NNN investment, TSC's have a lot of residual value in the real estate as they are on large lots, usually 4-5 acres and have decent size buildings of around 20,000 sf built of block."

Lior Regenstreif of Marcus Millichap represented the Seller.