08-13-10 - Hotels - Hooters - Banks - For sale

1. Fox & Hound Restaurant in Lone Tree, CO: 11,612 SF free-standing Fox & Hound restaurant on 2 acres of land located close to Park Meadows Mall/Hwy-470 in wealthy (AHI $117K/yr) Denver Southern suburbs.  Surrounded by many national tenants. 20 yrs absolute NNN corp lease with 13 yrs remaining by an company that operates 130 restaurants in 30 states. NOI $194K/yr. with CPI-based rent increases every 5 yrs.  $2.430M. 8% Cap.
2. Rite Aid Pharmacy in Burlington, NC: 14,470 SF newly constructed Rite Aid Pharmacy along main corridor in fast growing (39.24%) and high income (AHI $81K/yr) area. 20-years absolute NNN corp lease with 10% rent increases every 10-years. NOI $311K/yr. $3.686M. 8.45% Cap.
3. Travelodge in Tacoma, WA: 79-unit hotel built in 1987 on 1.41 acres lot with excellent I-5 visibility & access.  Refurbished in 2008.  NOI $394K/yr. $3.8M. 1038% cap.
4. Shopping Center in North Highlands, CA: 121,619 SF shopping center anchored by 60,849 SF Raley’s supermarket (have the same owner as Nob Hill), Hometown Buffet and Bank of America in Sacramento metro. 84% NNN leased.  NOI $1.224M. $14.67M. 8.35% cap. Substantial upside when 100% leased.
5. Hooters Restaurant in Council Bluffs, IA: 4880 SF franchised restaurant built in 2008 on 1.5 acres parcel across from Mid-America Convention Center in Omaha metro. 15 yrs absolute NNN lease with 13 yrs remaining by experienced operators.  Location with strong sales revenue. NOI $216K/yr.  Price reduced to $2.335M. 9.25% cap.
6. Chase Banking Center in Tampa, FL: 7252 SF freestanding Chase banking center on 1 ac lot directly across from Lowes in middle class area.  100% NNN lease.  NOI $196K/yr. $2.45M. 8% cap.
7. Bankruptcy sale of Retail/Office Center in Oakland Park, FL: 48,100 SF 2-story retail/office complex on 2.6 acres lot in Fort Lauderdale metro.  90% occupied.  NOI $444K/yr. $4.695M. 9.46% cap.
8. Apartments in Orlando, FL: 19-unit upscale apartments as part of 236-unit garden style multifamily complex just North of 170 acres lake Orlando.  Large 2-3 bedroom 1390-1570 SF units. Surrounded by high-end single-family homes in the $650,000 price range for lakeside homes and $370,000 for non-lakeside homes Convenient to championship golf courses, universities, employment centers, theme parks and shopping establishments. 100% occupied.  NOI $129K/yr. $1.371M. 9.4% cap.

© copyright Transmercial.  All rights reserved.