08-18: Carl's Jr - Kragen Auto Parts - Church's Chicken For Sale

1.      Carl’s Jr in McAllen, TX: 3000 SF new restaurant on .81 acres corner lot directly across from Lowes, Wal-mart Supercenter and Sam’s Club.  New 20 yrs absolute NNN lease to an operator with 139 locations.  NOI $136K/yr with rent bump every 5 yrs.  $1.7M. 8% cap.

2.      Shopping Center in Riverton, UT: 32,384 SF new  shopping center on 3.77 acres of land in a high growth (94% since 2000) and high income (AHI 93K/yr) city 17 mile SW of Salt Lake City.  Next to Kohl's, Home Depot and across the street from Wal-Mart Super Center. 100% NNN leased by 3 national tenants: Staples (10 yrs lease), Shoes Carnival (10 yrs lease) and Dollar Tree (5 yrs lease).  NOI $409K/yr. with rent bumps.  $5.117M. 8% cap.

3.      Shopping Center in Portland, OR: rare 99,438 SF neighborhood shopping center owned by General Growth Properties (owner of 200 regional malls in the US) on 11 acres corner lot with easy access to I-84 in stable city.  Anchored by Safeway supermarket.  95% NNN leased.  NOI, cap rate and price not avail.

4.      Howard Johnson Inn in Dallas, TX: 105-unit 3-story inn built in 1985 on 1.49 acres lot.  I-30 visibility with over 159,000 vehicles per day. Recently renovated.  $4.5M.

5.      Church’s Chicken in McAllen, TX: 1800 SF restaurant built in 2007 in a fast growing city (66% since 2000).  100% NNN corp leased till 2022.  NOI $94K/yr. with 10% rent bump every 5 yrs (next increase in 2012).  $1.1M. 8.56% cap.

6.      Shopping Center in Wylie, TX: 12,160 SF 3-yr-old retail center on 1.2 acres parcel direct across from Super Target and Kohl in affluent Dallas metro.  100% NNN leased by 6 tenants.  NOI $266K/yr. $3M. 8.88% cap.

7.      Apartments in San Diego, CA: 16-unit well-kept apartments built in 1984.  100% occupied with waiting listing for prospective tenants. Gross rent $133K/yr. $1.15M. 7.6% cap.

8.      Apartments in San Diego, CA: 24-unit apartments on 1/3 acre lot near San Diego Bay.  100% occupied.  NOI $131K/yr. $1.686M. 7.8% cap.

9.      Kragen Auto Parts in Clovis, CA: 7002 SF Kragen Auto Parts built in 2006 on a corner lot.  15 yrs NNN corp lease to Kragen Auto (owned by O’Reilly Auto parts, NASDAG: ORLY) .  NOI $130K/yr (to be increased to $144K/yr in 10/20111).  Price just reduced to $1.95M. 7.38% cap (10/2011).

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