07-28-10 - Pizza Hut - Church's Chicken - Lone Star Steakhouse - For sale

1. Pizza Hut Wingstreet in Columbia, SC: 3114 SF fast food restaurant on .89 ac outparcel to a shopping center in an affluent Columbia metro (AHI $128K/yr within 1 mile).  Just remodeled in 2008.  New 20 yrs absolute NNN lease by a strong operator with 39 locations..  NOI 90K/yr with rent increase every 2 yrs. $1.125M. 8% cap. 
2. Strip Center in Evans, GA: 11,100 SF strip center on .95 acre lot across from Walmart in a upper middle class Augusta metro (AHI $90K/yr).  100% NNN leased by 8 tenants, many of them national tenants: Batteries Plus, Pizza Hut, Gamestop, T-Mobile. NOI $147K/yr. $1.95M. 7.5% cap. 
3. Shopping Plaza in Omaha, NE: 52,381 SF shopping center anchored by Winn Dixie Supermarket. 100% leased.  NOI $516K/yr. $6.335M. 8.15% cap. 
4. Church’s Chicken in Midland, TX: 1350 SF restaurant on 1/3 ac lot.  15 yrs absolute NNN lease.  NOI $72K/yr. with 1.5% annual rent bump.  $852K.  8.5% cap. 
5. Shopping center in Sacramento, CA: 30,023 SF shopping center on 2.59 acres corner lot on the busy Stockton blvd. with easy access to hwy 99.  Profoma NOI $338K/yr. 2.95M. 1.49% profoma cap.  Less than $100/SF! 
6. Strip Mall in Edinburg, TX: 7600 SF 3-yrs old strip mall directly across Wal-mart supercenter in fast growing (71% since 2000) and high income (AHI $74K/yr) Allen metro.  100% NNN leased by 5 good tenants.  NOI $140K/yr. $1.4M. 10% cap. 
7. Lone Star Steakhouse in Chesapeake, VA: 5374 SF steakhouse on 1.3 acres lot in a prime commercial corridor near  Greenbrier Mall in high income (AHI 89K/yr) Norfolk metro. Just off I-64 exit. 15 yrs absolute NNN lease.  NOI $220K/yr with 2% annual rent bump. $2.4M. 9.17% cap. 
8. Pep Boys Auto in Indio, CA: 19,337 SF Pep Boys Auto Parts and Service Center on 1.58 acres lot in fast growing and strong income Palms Spring.  15 yrs absolute NNN corp lease by Pep Boys (NYSE: PBY).  NOI $257K/yr. with 1.5% annual rent bump. $3.222M. 8% cap. 
9. Kragen Retail Center in Sacramento, CA: 22,425 SF 11-unit retail center on 2 acres lot.  Anchored by Kragen Auto Parts. 89% leased.  Proforma NOI $345K/yr.  $3.7M. 9.27% profoma cap.

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