Advisory: if you ever finance a commercial property, lenders will ask you to sign a document called “Subordination, Non-Disturbance and Attornment” or SNDA. Attached is an article written by an attorney explaining what it is.
1. Rite Aid in Douglasville, GA: 11275 SF drugstore located at an intersection in middle-class Atlanta metro. Store with excellent sales of over $10M/yr., i.e. profitable. New 20 yrs NNN lease with no landlord responsibilities. NOI $255K/yr with 10% rent bump every 10 yrs. $2.95M. 8.65% cap.
2. Walgreens in Mount Pleasant, SC: 14,283 SF drug store built in 2003 in an affluent coastal town in Charleston metro (AHI $100K/yr). Across from Lowe’s. 100% absolute NNN lease. NOI $373K/yr. $5.074M. 7.35% cap.
3. Mainstay Suites Hotel in Phoenix, AZ: 87-room well-maintained hotel built in 1997 near Metrocenter Mall. Just 10 minutes from the airport. NOI $360K/yr. $3.6M. 10% cap.
4. Retail Center in Altoona, IA: 5220 SF strip center built in 2005 on 1.09 acres corner lot in middle-class Des Moines. Across from Wal-mart & Lowe’s. 100% NNN leased to 2 brand name tenants: Tuffy Auto and US Sprint. NOI $115K/yr. $1.446M. 8% cap.
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