11-08: Lone Star Steakhouse, Medical Office building, Retail Center For Sale

1.      Lone Star Steakhouse in Hodgkin, IL: 5055 SF restaurant built in 1997 on an outparcel to a power center anchored by Target, Wal-Mart, Kohl’s, Sam’s Club in Chicago suburbs.  15 yrs NNN lease with 12 yrs remaining.  NOI $202K/yr. $2.178M. 9.75% cap.

2.      Retail Center in Lynwood, CA: 10,404 SF strip center built in 1990 on .59 ac corner lot in a densely-populated area with over 900K residents within 5 miles. 100% leased by 8 tenants.  NOI $203K/yr. $2.65M. 7.68% cap.

3.      Medical Office building in Sacramento, CA: 24,708 SF 3-story medical office building on 2.37 acres lot on campus of 162-acutecare bed Methodist Hospital of Sacramento and 1 block from Kaiser Permanente Hospital.  Easy access to hwy 99.  100% leased.  NOI $430K/yr. $5.8M. 7.42% cap.

4.      Shopping Center in Humble, TX: 16,450 SF shopping center built in 2005 on 2 acres lot in high-growth, high income Houston Northern suburbs. 100% NNN leased by 8 tenants.  NOI $294K/yr.  $3.2M. 9.19% cap.

5.      Retail Center in Altoona, IA: 5220 SF 2-tenant retail center built in 2005 on a corner lot across from Wal-Mart, Super Target, and Lowe’s in high income Des Moines suburbs.  100% corp NNN lease to 2 brand name tenants: Sprint and Tuffy Auto.  NOI $115K/yr. $1.446M. 8% cap.

6.      Strip center in Elgin, IL: 9975 SF 4-unit strip center on 1 acre outparcel to Wal-Mart supercenter in high income suburban Chicago.  Anchored by FedEx-Kinko.  90% NNN leased with 1 small vacant unit.  NOI $201K/yr.  $1.917M. 10.5% cap.

7.      Shopping Center in Sacramento, CA: 22,425 SF shopping center on 1.99 ac lot.  Anchored by O’Reilly Auto Parts.  88% leased.  NOI $340K/yr. $3.73M. 9.13% cap.

8.      TX Land & Cattle Steakhouse in Killeen, TX: 7470 SF steakhouse built in 2006 on 2 acres lot. 15 yrs NNN lease with 12 yrs remaining.  NOI $287K/yr with 2% annual rent bump. $2.803M. 10.25% cap.

9.      Medical Office Building in Aurora, IL: 38,400 SF 2-story class-A medical office building constructed in 1994 on 3.65 acres parcel in Chicago suburbs.  Anchored by Dryer Medical Clinic.  80% leased.  NOI $467K/yr. $5.25M. 8.91% cap.

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