03-03: Popeye's, TireMax, Burlington Coat Factory, shopping center, office building

1. Popeye’s in Rogers, AR: 2877 SF restaurant built in 2004 on ½ ac corner lot about 5 ½ miles from Wal-mart World Headquarters.  Long term NNN lease to a growing franchisee. NOI $90K/yr. $1.07M. 8.41% cap. 
2. TireMax in Lufkin, TX: 4750 SF single-tenant retail center on .7 ac lot across from the Target, between the Home Depot and the Lowe' s.  New 10 yrs NNN at closing to a regional multi-Unit tenant with strong history of responsible growth.  NOI $108K/yr with 10% rent bump every 5 yrs. $1.234M. 8.75% cap. 
3. Former Dental Office in Visalia, CA:  3382 SF former dental office with equipment in place. Across from Sequoia Mall in a growing central valley town. $710K. 
4. Burlington Coat Factory in Chino, CA: 81,282 SF retail center as a part of Chino town square shopping center anchored by Target, Ross Dress for Less, DD' s Discount, and Jo-Ann Fabrics. Densely populated middle-class area. Long term NNN lease to Burlington Coat Factory (S&P B-) with 10 yrs remaining.  NOI $638K/yr. $8.51M. 7.5% cap. 
5. Shopping Center in Houston, TX: 37,375 SF shopping center built in 1998 on 3.48 acres lot in affluent part of Houston (AHI $97K/yr in 1 mile).  Shadow anchored by Kroger supermarket.  95% NNN leased to 12 tenants with 1 small vacant space.  NOI $423K/yr. $4.976M. 8.5% cap. 
6. Office Building in New Berlin, WI: 30,640 SF 3-story class-A office building on 2.17 acres lot next to ProHealth Care medical center in upper middle class Milwaukee suburbs.  88% occupied with 3 small vacant units.  NOI not avail.  $2.2M.  Just over $70/SF.

© Transmercial 2011.