Tuesday, November 30, 2010

11-16: Goddard, Fresenius Dialysis, Holiday Express, AutoZone, Walgreens, Medical Office Building For Sale

1.      Childcare center in McKinney, TX: 8068 SF childcare center built in 2009 on 1.44 acres lot in a wealthy Dallas metro with AHI $120K/yr within 3 miles.  15 yrs NNN- to Goddard School with 320+ locations in 37 states.  NOI $220K/yr with 10% rent bump every 5 yrs. $2.445M. 9% cap.
2.      Fresenius Dialysis Center in Berwyn, IL: 11,918 SF dialysis center on .94 acres corner lot in Chicago metro.  100% NNN leased till 2020.  Fresenius recently spent $1.5M to remodel the property.  NOI $197K/yr with 3% annual rent bump.  $2.385M. 8.28% cap.
3.      Holiday Inn Express in Bakersfield, CA: 108-unit hotel on 2 acres lot with easy access to hwy 99. Amenities at the interior-corridor property include pool, guest laundry, meeting space and free breakfast bar.  High avg occupancy of 74%.  NOI $574K/yr. $7M. 8.21% cap.
4.      AutoZone in Oceanside, CA: 7048 SF auto parts store built in 1996 on .81 ac in high income coastal city in San Diego suburbs.  New 10 yrs NNN lease.NOI $168K/yr with rare 10% rent bump every 5 yrs and 12.5% rent bump in each 5 yrs options. $2.671M. 6.3% cap.
5.      La Petite Academy in Diamond Bar, CA: 7536 SF childcare center on .83 ac lot in an affluent city in Orange county.  Across from Target and near Hwy 57 entrance.  100% leased till 2017.  NOI $222K/yr with CPI-based annual rent bump.  $2.62M. 8.5% cap.
6.      Walgreens in Coalinga, CA: 14,820 SF drug store built in 2008 on 1.53 ac corner lot across from Save Mart supermarket and K-mart.  100% absolute NNN lease till 2033.  NOI $326K/yr. $4.669M. 7% cap.
7.      Medical Office Building in Huntington Beach, CA: 55,693 SF class-A medical office building in high income coastal town in Orange county.  Visibility form I-405.  78% occupied with current NOI $706K/yr.  $9.5M. 7.44% actual cap.  Upside potential when 100% leased.
8.      Retail Center in Orange, CA: 14,710 SF retail center consists of 3 free-standing buildings on 3 parcels totaling 1.45 acres lot on 6-lane artery in high income area.  100% leased to 4 tenants which include Sizzler, Marie Callender's and 2 other tenants.  NOI $201K/yr. $2.9M. 6.93% cap.
9.      Medical Office Building in Chico, CA: 18,139 SF class-A medical office building developed in 1999 on 1.55 acres parcel close to Hwy 99 and 382-bed Enloe Hospital. 100% occupied.  NOI $215K/yr. $3.1M. 7% cap.
10.   Self Storage in Lewisville, TX: 45,742 SF 351-unit self-storage facility built in 1996 on 2 acres lot in wealthy Dallas suburbs. 62% economic occupied.  Actual NOI $128K/yr. $1.7M. 7.53% cap.  Upside potential when 100% occupied.

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