1. Shopping Center in Lakeland, CA: 40,812 SF 16-unit shopping plaza in San Diego suburbs. Anchored by 17,707 SF Rite Aid, 4200 SF Chase Bank, and 5400 SF O’Reillys Auto Parts. Shadow anchored by 43,624 SF Albertson’s grocery. 91% NNN leased with 3 small vacant spaces. Current NOI $654K/yr. $7.8M. 8.4% cap. Upside potential when 100% leased.
2. Big 5 Sports in Parker, CO: 11,562 SF upscale retail center built in 2008 on 1.04 acres lot in fast growing (95% since 2000) & affluent (AHI $109K/yr) Denver suburbs. Near Parker Adventist Hospital. Easy access to Hwy 470. 10 yrs NNN- to Big 5 Corp. NOI $173K/yr with 10% rent bump every 5 yrs. $2.2M. 7.83% cap.
3. Shopping Center in Houston, TX: 37,375 SF shopping center built in 1998 on 3.48 acres lot in upper middle-class area (AHI $97K/yr within 1 mile). Anchored by CATO Fashion, and Aaron’s Furniture. Shadow anchored by Kroger Signature Supermarket. 95% NNN lease. NOI $423K/yr. $4.976M. 8.5% cap.
4. Walgreen’s in Louisville, CO: 13,883 SF inline drug store on 1.32 acres lot next to Safeway Grocery in upper middle-class (AHI $96K/yr) Denver suburbs. Store with increasing sales revenue. 100% NNN leased till 2023. NOI $115K/yr (including $32K of percentage rent). Just $1.05M. 10.96% cap. Low 2.4% rent to income ratio.
5. Retail Center in Sacramento, CA: 7320 SF newly built retail center on 1.1 acres lot with easy access to I-80. 100% NNN leased to 2 tenants. NOI $182K/yr. Price reduced to $1.999M. 9.1% cap.
6. Shopping Center in Indian Head Park, IL: 17,805 SF retail center on 1.94 acres lot in affluent Chicago suburbs (AHI $120K/yr). 100% NNN leased to 8 good tenants. NOI $330k/yr $3.9M. 8.46% cap.
7. Starbucks in Texas City, TX: 1733 SF Starbucks coffee built in 2008 on ½ ac lot in Houston suburbs. 10 yrs NNN- with 7 yrs remaining. NOI $93K/yr. $1.07M. 8.75% cap.
8. Towne Center in Gilbert, AZ: rare 93,372 SF Towne Center built in 2000 on 7.63 acres corner lot with great visibility in high growth, high income (AHI $101K/yr in 1 mile) Phoenix metro. Anchored by Ross, Staples, Sally Beauty Supply and Petco. Shadow anchored by Target. Across from Frys, Home Depot, Walgreens. 100% NNN leased. NOI $1.444M. $19M. 7.6% cap.
9. Sports Authority in Lake Saint Louis, MO: 42,081 SF single-tenant big box built in 2008 on 3.67 acres lot between Wal-Mart and Lowe's in a Major Power Center in fast growing (66% since 2000) and affluent St Louis suburbs (AHI $109K/yr). 100% NNN lease with 9 yr remaining. NOI $463K/yr. $5.29M. 8.75% cap.
© Transmercial 2011.
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