10-14: Long John Silver's, Family Dollar, Jack in the Box For Sale

Financing Update: the interest rates seem to come down lately for commercial loans.  Just 6 months ago, the rate for a single tenant property with a national tenant, e.g. Starbucks would be in the 6.5% (fixed for 5 yrs).  It’s now down to 4.5%.  One lender advertises 4% rate for Walgreens.  So there is another good reason to invest now.

1.      Long John Silver’s restaurant in Fresno, CA: 2666 SF franchised seafood restaurant on ½ ac lot in middle class area near Hwy 41.  20 yrs absolute NNN lease with 16 yrs remaining from a franchisee with 23 units.  NOI $54K/yr with 2.25% annual rent bump.  Only $868K.  6.25% cap.

2.      Strip center in Fort Worth, TX: 6000 SF multi-tenant strip center on .79 acre outparcel to Albertson’s Supermarket anchored shopping center in fast growing upper middle class Dallas metro. 100% NNN lease.  NOI $133K/yr. $1.48M. 9% cap.

3.      Family Dollar in Tucson, AZ: 9180 SF Family Dollar store built in 2010 on 1.89 ac lot at a hard corner in fast growing and good income area.  10 yrs NN corp. lease.  NOI $129K/yr. $1.48M. 8.75% cap.

4.      Shopping Center in Charlotte, NC: 18,500 SF shopping center built in 2001 on a major artery in middle class area.  Anchored by Goodwill, 100% NNN leased.  NOI $258K/yr. $2.58M. 10% cap.

5.      Jack In the Box in San Antonio, TX: 1716 SF restaurant on 1/2 ac lot corner lot.  100% absolute NNN corp. lease with 5 yrs remaining.  Tenant has been here since 1987.  NOI $56K/yr.  Only $803K.  7% cap.

6.      Short sale Shopping Center in Lawrenceville, GA: 20,650 SF recently-built class-A shopping center on Duluth Hwy.  Across from Kroger Supermarket.  Fast growing upper middle class (AHI $88K/yr) Atlanta metro.  Currently 55% leased.  Proforma NOI $272K/yr. $1.8M.  Only $88/SF!  12% Proforma cap.

7.      Mini-storage Facility in Wellington, FL: 38,891 SF 3-story mini-storage facility built in 2006 on 2.94 acres lot in the West Palm Beach area.  Proforma NOI $240K/yr. $2.2M. 10.94% Proforma cap.

8.      Chinese Buffet Restaurant in Hayward, CA: 7000 SF Chinese Buffer restaurant on .63 ac lot on a  busy road.  100% leased with 4 yrs remaining.  NOI $124K/yr. $1.6M. 7.8% cap.

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