10-05: Shopping centers, Office Depot, CVS, Rite Aid, Medical Office Buildings For Sale

1.      Shopping Center in Orlando, FL: 77,254 SF shopping center built in 2001.  Anchored by 31,896 SF TJ Maxx, 12,000 SF Petco, and 13,800 SF Shoe Carnival.  Shadow anchored by 183,119 SF Super Target and CVS pharmacy.  90% NNN leased.  Current NOI $765K/yr.  $8.05M. 9.5% cap.  Just $104/Sf.  Upside potential when 100% leased.

2.      Office Depot in East Palo Alto, CA: 30,988 SF Office Depot on 2.65 ac lot as part of a power center anchored by IKEA, Best Buy, Sports Authority, Mi Pueblo Grocery, and Home Depot.  Just off hwy 101 in wealthy Silicon Valley (AHI $154K/yr within 3 miles radius).  Area with extreme high barrier to entry.  10 yrs corp NNN lease with 8 yrs remaining.  NOI $898K/yr. with 10% rent bump every 5 yrs.  $12.8M. 7% cap.

3.      Medical Building in Rio Rancho, NM: 3478 SF single-tenant 2-yrs old medical office building in growing and strong income area.  6 yrs NNN lease to Rio Grande Dermatology with 4 yrs remaining.  NOI $83K/yr. with 3% annual rent bump. $1.043M. 8% cap.

4.      Shopping center in Fort Worth, TX: 22,797 SF shopping center on 1.62 acres lot on a major artery in high income area.  100% leased to 8 tenants.  NOI $278K/yr. $2.8M. 9.95% cap.

5.      CVS Pharmacy in Cooper City, FL: 14,776 SF drug store on 1.75 acres corner lot in an affluent (AHI $110K/yr) Ft Lauderdale metro with easy access to I-75.  100% NNN leased till 2025.  NOI $387K/yr. $5.24M. 7.5% cap.

6.      Shopping Center in Powell, OH: 48,750 SF upscale shopping center built in 2002 on 9.18 acres lot in wealthy (AHI $123K/yr) Columbus suburbs.  Shadow anchored by a recently expanded Kroger Supermarket. 100% NNN leased.  NOI $726K/yr. $8.35M. 8.7% cap.

7.      Rite Aid in Roseville, CA: 17,700 SF drug store on 2 acres lot in middle class Sacramento suburbs. 100% NNN leased.  NOI $476K/yr. $5.96M. 8% cap.

8.      Apartments in Austin, TX: 103 unit apartments built in 1983 on 2.84 acres lot in stable & high income area (AHI $81K/yr).  99% occupied.  NOI $388K/yr. $5.2M. 7.5% cap.

9.      Shopping Center in Fort Collins, CO: 21,633 SF trophy shopping center on 2.63 acres parcel in high income (AHI 93K/yr) city North of Denver.  Great visibility: frontage on 3 streets.  95% NNN leased. NOI $398K/yr. $4.8M. 8.23% cap.

10.   Executive Inn in Omaha, NE: 212-unit hotel on 4.5 acres lot near I-80 with traffic exceeding 200K cars/day.  Pro forma NOI $800K/yr. $4M. 20% pro forma cap.

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