12-16: Rite Aid Pharmacy; Texaco Xpress Lube; Dollar General, Med building For Sale

AHI: Avg. Household Income.  National average is about $50K/yr.

NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Rite Aid in Alpharetta, GA: 10,908 SF Rite Aid Pharmacy on 1.38 acres of land outparcel to Lowe’s at a signalized intersection in growing & wealthy North Atlanta metro. 100% absolute NNN lease till 2019. NOI $217K/yr. $2.350M. 9.25% Cap.
2. Texaco Xpress Lube in Tampa, FL: 1633 SF single-tenant retail building shadow-anchored by Big Lots along Hwy-587. 100% absolute NNN lease till 2020. NOI $60K/yr. $800K. 7.5% Cap.
3. Retail Center in Northglenn, CO: 7048 SF retail center with excellent visibility along main corridor in middle class (AHI $71K/yr within 1-mile radius) Denver metro. 100% NNN leased by two tenants: MedExpress Urgent Care and Dazbog Coffee. NOI $172K/yr. $2.150M. 8% Cap.
4. Ambulatory Surgical Center in Casa Grande, AZ: 6,000 SF free-standing medical office constructed in 2002 adjacent to Casa Grande Regional Medical Center in growing area just South of Phoenix at intersection of I-8/I-10. Long NNN lease till 2022. NOI $204K/yr. $2.4M. 8.5% Cap.
5. Rite Aid in Sumter, SC: 12,728 SF Rite Aid with double drive-thru outparcel to Piggly Wiggly anchored shopping center at active intersection approximately 45-miles from Columbia. Location with high store sales. 100% NNN corp lease till 2021. $2.950M. 10.48% Cap. Assumable financing in place: buyer to assume $2.250M loan at 6.20% interest rate.  
6. Texas Land & Cattle Steak House in Killeen, TX: 7470 SF steakhouse built in 2006 on 2 acres of land. 15 years NNN lease with 12-years remaining. NOI $287K/yr with 2% annual rent increases. $2.803M. 10.25% Cap.
7. Applebee’s Restaurant in Lees Summit, MO: 4,560 SF recently remodeled single-tenant restaurant on 1.22 acres at hard corner location in growing middle-class Kansas City metro.  100% NNN corp lease till 2028. NOI $136K/yr. $1.610M. 8.5% Cap.
8. Dollar General in Garland, TX: 9,014 SF single-tenant retail building constructed in 2006 on 1.20 acres of land with excellent visibility along main thoroughfare. 100% NN corp lease with 6-years remaining. NOI $59K/yr. $725K. 8.20% Cap.
9. Medical Building in West Jordan, UT: 12,305 SF attractive Class-B multi-tenant medial building close to Hwy-154 in fast growing Salt Lake City metro. .  Excellent tenant mix. 100% leased. NOI $197K/yr. $2.327M. 8.5% Cap.
10. Office Building in Stockton, CA: 12,003 SF recently constructed beautiful office building located at corner location. 100% leased by strong tenant mix. NOI $217K/yr. $2.997M. 7.25% Cap.

© Transmercial 2010.  All rights reserved.