1. Shopping Center in Palmdale, CA: 99,913 SF 30-unit shopping center on 6.75 acres lot with ingress/egress on 3 different roads in Los Angeles metro. Anchored by Vallarla Supermarkets (37 stores in Southern CA) and Anna Linen. 97% leased. NOI $1.343M. 18.5M. 7.25% cap.
2. Texas Roadhouse in Palm Bay, FL: 7202 SF Texas Roadhouse restaurant (320 locations in 46 states) built in 2004 on 2.56 acres lot with I-95 visibility in growing Melbourne metro. 100% NNN corp lease till 2010. NOI $240K/yr with 10% rent bump every 5 yrs. $2.825M. 8.5% cap.
3. Shopping center in Glendale, AZ: 22,280 SF 11-unit inline shopping center built in 2001 on 2.27 acres lot next to Hwy 101 exit in growing and affluent Phoenix metro (AHI $122K/yr in 1 mile). Shadow anchored by Albertson supermarkets and Checks Auto parts. Across from Fry’s Grocery. 95% NNN lease with1 small vacant unit. NOI $486K/yr. $5.522M. 8.62% cap.
4. Shopping center in Escondido, CA: 41,307 SF shopping center on 2.7 acres lot near hwy 78 exit in San Diego metro. 75% leased. Current NOI $373K/yr. $4.45M. 8.4% cap. Upside potential when 100% leased.
5. Napa Auto Parts in Lakewood, CO: 22,100 SF Napa Auto parts center on a 6-lane artery in Denver metro. 10 yrs NNN corp lease with no landlord responsibilities. NOI $148K/yr. $2.048M. 7.25% cap.
6. Logan’s Roadhouse in Wichita, KS: 6800 SF Logan’s Roadhouse (200+ locations in 23 states) built in 2007 in upper middle class area (AHI $80K/yr). 15 yrs NNN absolute corp lease with 12 yrs remaining. NOI $115K/yr with 10% rent bump every 5 yrs. $1.557M. 8% cap.
7. Strip Mall in Pittsburg, CA: 9580 SF strip center built in 2007 next to Hwy 4 exit in a stable city East of San Francisco. Shadow anchored by the growing chain Mi Pueblo Food Center. 100% NNN leased to panda Express, Pittsburg Fed Credit Union, Cartridge World, The UPS Store and Western Dental. NOI $335K/yr. $4.585M. 7.3% cap. Buyer to assume $3.2M loan at low 5.5% interest due in 2018.
8. Retail Center in Hiram, GA: 7488 SF retail center built in 1997 on a corner lot in Atlanta metro. Great location: next to Wal-mart supercenter, and surrounded by Big K, Home Depot, Staples, Sports Authority, Best Buy, Sam’s Club, Super Target, Ross, Kohl’s and more. 100% NNN leased to Sears Home Appliance and Ortho Zone (Orthodontist). NOI $171K/yr. $2M. 8.56% cap.
9. Fresenius Dialysis Center in Raleigh, NC: 18,100 SF dialysis center in a fast growing area (30% since 2000). 12 yrs NNN lease with 8 yrs remaining. NOI $150K/yr. $1.65M. 9% cap.
10. Medical Office Building in Westbury, NY: 12,000 SF single tenant medical office building on .81 acre lot in affluent NY suburbs (AHI $122K/yr in 1 mile). 100% leased till 2018 to Brightheart Veterinary with 9 locations and guaranty from parent company. NOI $178K/yr. $2.2M. 8.1% cap.
© Transmercial 2011.
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