10-21: Davita Dialysis, Apartments, Petco, Hooters, Burger King, Lighthouse Lodge For Sale

1.      Davita Dialysis center in Temple Terrace, FL: 7056 SF recently renovated Dialysis Center on 1.04 acres lot in Tampa metro. Tenant recently spent $700K in the property. 100% NNN- leased till 2027.  NOI $125K/yr with rent bump in 2017 and 2022. $1.67M. 7.5% cap.

2.      Apartments in Irving, TX: 160-unit apartment in stable Dallas metro.  $5.35M.

3.      Petco in Saint Louis, MO: 14,955 SF retail center built in 2008 on 1.47 acres outparcel to a community center anchored by Target, J.C. Penny's, and Shop-N-Save Grocery Store. 100% NNN lease with 9 yrs remaining.  NOI $254K/yr. $3.05M. 8.36% cap.

4.      Strip Center in Corona, CA: 7109 SF retail center on .4 ac corner outparcel to Vons anchored shopping center in growing city.  100% NNN leased.  NOI $175K/yr. $2.95M. 5.93% cap.

5.      Shopping Center in Arlington, TX: 19,384 SF 4-yrs old shopping center on 2.16 acres corner lot in fast growing (272% since 2000) middle-class Dallas metroplex. 71% NNN leased by 7 good tenants.  In place NOI $208K/yr  (pro forma $316K/yr).  Priced to sell at 8% cap (if actual cap: $2.6M, pro forma cap: $3.95M).

6.      Hooters Restaurant in Downers Grove, IL: 9744 SF restaurant on 1.43 acres lot near intersection of I-88 and I-355 in upper middle class Chicago suburbs.  Close to Yorktown Center Mall.  Location with strong sales of $4.4M.  New 20 yrs NNN lease.  NOI $259K/yr.  $2.92M. 8.9% cap.

7.      Fox & Hound restaurant in Lone Tree, CO: 11,612 SF Fox & Hound restaurant on 2 acres lot in entertainment district near Park Meadow Mall in affluent Denver suburbs (AHI $117K/yr).  100% absolute NNN leased till 2023.  NOI $194K/yr. with CPI-based rent increase every 5 yrs (next increase in 2011, est. 9%).  $2.43M. 8% cap.

8.      Oak Hollow Mall in High Point, NC:  rare 518,000 SF enclosed mall on 44 acres lot (Sears and Dillard’s not included).  $15M.

9.      Lighthouse Lodge in Pacific Grove, CA: 65-unit Lighthouse Lodge & Suites on 1.49 acres lot near Pacific Grove Golf Course in affluent (AHI $180/yr within 1 mile) coastal town.  Appraised $21.8M in 2007.  Just $8.15M and a subject to Chapter 11 Bankruptcy court approval.

10.   Burger King in Saint Louis, MO: 6000 SF restaurant in populated area with strong income.  100% absolute NNN lease with 9 yrs remaining.  NOI $101K/yr. $1.265M. 8% cap.

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