1. Subway Sandwich in Portland, OR: 1850 SF freestanding restaurant with drive thru on 1/3 acre lot completed renovated in 2006. New 10 yrs NNN lease by a successful franchisee. NOI $55K/yr with 15% rent increase in yr 5. $820K. 6.75% cap.
2. Jack In The Box in Garland, TX: fat food restaurant on a hard corner lot in upper middle class Dallas metro. 15 yrs absolute NNN corp lease with 13 yrs remaining. NOI $60K/yr. with 8% rent bump every 5 yrs. $930K. 6.5% cap.
3. Urgent Care Center in Oklahoma, OK: 3248 SF class-A medical office building constructed in 2005 on .90 ac parcel in high income area. 10 yrs NNN lease till 2016 by Access Medical Urgent Care with 9 clinics. NOI 81K/yr. (in Mar 2011) $885K. 9.25% cap.
4. Walgreens in Northglenn, CO: 14,490 SF drugstore built in 2001 on 1.29 acres corner lot in Denver metro. 100% NNN (minus roof & structure) till 2022. NOI $391K/yr. $5.2M. 7.5% cap. Buyer to assume $4M loan at 6.03% interest due 2017. 13% leveraged 1st yr return!
5. Jiffy Lube in Independence, MO: 2816 SF Jiffy Lube built in 2002 on 1.07 acres lot. 100% NNN leased till 2023 by Heartland Automotive Holdings – Jiffy Lubes Largest Franchisee. NOI $92K/yr with 10% rent bump every 5 yrs. ($101K/yr in 2013). $950K. 9.75% cap.
6. Apartments in Renton, WA: 124 unit apartments on 4.42 acres lot in Seattle metro with $1.25M in upgrades. 98% occupied. NOI $549K/yr. $7.75M. 7.09% cap.
7. Shopping Center in Stockbridge, GA: 22,325 SF retail center built in 2005 in Atlanta metro. NOI $191K/yr. Price reduced from $2.8M to $2.4M. 9% cap.
© Copyright Transmercial 2010. All rights reserved.
No comments:
Post a Comment