01-05: Strip center, Stables, Family Dollar, Apartments, Meineke For sale

1.      Bank-owned Shopping Strip in Morrow, GA: 24,178  SF strip center built in 2000 on 2.21 acres lot in Atlanta suburbs. Anchored by 15,470 SF Social Security Admin.  85% leased.  Current NOI $257K/yr. $1.525M. 16.88% cap.

2.      Office Building in Jonesboro, GA: 20,340 SF multi-unit office building completed in 2002 on 3.8 acres lot in Atlanta suburbs.  60% occupied.  Current NOI $137K/yr. $1.425M. 9.64% cap.

3.      Staples in Auburn, CA: 23,170 SF single-tenant retail center on 1.5 acres lot in middle class Sacramento suburbs.  Next to Sears and across from Rite Aid with easy access to I-80. 100% NNN corp lease till 2017.  NOI $268K/yr. $3.527M. 7.6% cap.

4.      Family Dollar in Houston, TX: 8324 SF Family Dollar store under construction on 1 ac lot in good NW of Houston.  New 10 yrs NNN- lease.  NOI $88K/yr. $1.075M. 8.24% cap.  Recession insensitive tenant.

5.      Shopping Center in Greenville, SC: 31,000 SF established and well-maintained shopping center on 2.45 acres corner lot across from TJ Maxx in middle class area.  Anchored by 8630 SF Outback Steakhouse and 5000 SF Dollar Mart. 88% NNN leased to 10 good tenants with 2 available units.  Pro forma NOI $320K/yr. $3.4M. 9.42% cap.

6.      REO Apartments in Austin, TX: 54-unit apartments on 2.35 acres lot with gated swimming pool, a management/leasing office and an on-site clothes care facility.  $1.3M.

7.      Vacant Supermarket in Antioch, CA: 31,795 SF vacant recently built supermarket just off of Hwy 4 in a high income San Fran East Bay suburbs (AHI $88K/yr in 1 mile). $3M.

8.      Lone Star Steakhouse in Hodgkins, IL: 5055 SF restaurant built in 1997 on an outparcel to a 443,000 SF Power center anchored by Target, Wal-mart, Sam’s Club, Kohl’s, and Office Max in Chicago suburbs.  100% NNN corp lease to Lone Star Steakhouse with 110 units till 2022.  NOI $207K/yr with 2% annual rent bump.  $2.178M. 9.5% cap.

9.      Apartments in Van Nuys, CA: 22-unit apartments in a quiet middle class area in Los Angeles. 100% occupied with waiting list.  NOI $114K/yr. $1.495M. 7.67% cap.

10.   Meineke Car care Center in Sacramento, CA: 3200 SF Meineke on .35 ac lot in middle class area.  Tenant has been here since 1991.  100% NNN corp lease with 6 yrs remaining.  NOI $73K/yr. $825K.  8.9% cap.