02-09: Pizza Hut, Walgreens, Shopping centers, Rite Aid, Church's Chicken, Starbucks for sale

1.      Pizza Hut in Auburn, ME: 2585 SF restaurant built in 1999 on 1.15 acres lot. 20 yrs NNN lease with 9 yrs remaining to a large franchisee.  NOI $110K/yr with 12% rent bump every 5 yrs. $1.22M. 9% cap.

2.      Walgreens in Chicago, IL: 13,332 SF drug store on .86 acre with visibility from I-90.  In dense-populated upper middle class area. 1 mile from Resurrection Hospital. 100% NNN- lease with 9 yrs remaining.  NOI $384K/yr. $4.955M. Store with strong est. sales revenue of $10M.  7.75% cap.

3.      Shopping Center in Lincoln, NE: 53,321 SF shopping center renovated in 1997.  98% leased to national and regional tenants including, Ace Hardware, Goodwill Industries, Outback Steakhouse, Fazolis Restaurant, Papa John' s Pizza, and Peel' s Beauty Supply.  NOI $435K/yr.  $4.15M. 10.5% cap.

4.      Rite Aid in Wildomar, CA: 17,272 SF new Rite Aid built in 2007 on 1.5 acres corner lot with easy access to I-15 in high income Riverside county.  20 yrs NNN lease.  NOI $462K/yr. $5.8M. 85 cap.

5.      Alberto’s Mexican restaurant with drive thru in Artesia, CA: 2350 SF regional Mexican restaurant on .8 acre lot in densely populated area with over 600K residents in 5 miles ring.  100% NNN lease with 5 yrs remaining.  NOI $90K/yr. with 5% annual rent bump. $1.385M. 6.5% cap.

6.      Retail Center in San Jose, CA: 6998 SF 4-unit retail condos center built in 2006 with 35 parking spaces on busy Alum Rock Avenue.  Anchored by 4050 SF Chase Bank.  80% NNN lease with 1 avail unit.  Pro forma NOI $200K/yr.  $2.498M. 8% cap.

7.      Office Building in Rochester, NY: 43,885 SF 2-tenant office building constructed in 2001 on 2.72 acres lot.  100% leased.  NOI $328K/yr. $3.2M. 10.25% cap.

8.      Strip Center in Arlington, TX: 20,000 SF retail center on 1.3 acres corner lot in Dallas metro.  Anchored by Advance Auto.  100% leased.  9.35% cap.  Price not disclosed.

9.      Church’s Chicken in Sacramento, CA: 1169 SF restaurant built in 1980 on .42 ac corner lot on the busy Stockton blvd. NNN lease with 14 yrs left to an operator with 270 locations.  NOI $49K/yr with 1.5% annual rent bump. $820K. 6% cap.

10.   Starbucks Center in Davis, CA: 3264 SF 2-tenant retail center built in 2005 on 1.05 acres lot at a busy intersection in high income area (AHI $89K/yr).  Next to Sutter Davis Hospital. 100% NNN lease to Starbucks (new 10 yrs lease) and Domino Pizza.  NOI $145K/yr. $2.403M. 6.1% cap.

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