04:26: Walgreens, Advance Auto, Retail centers, Medical office building for sale

Advisory: Once the purchase contract is executed, the buyer typically has 21-30 days as stated in the contract to investigate every aspects of the property.  This duration is called due diligence (DD) period.  During this time, the buyer can cancel the transaction for any reasons.  While the buyer’s broker will assist the buyer with investigating during DD, you should also understand the process.  The attached revised article provides information about what you should do during DD.

1.       3-Walgreens Portfolio: 3 Walgreens drugstores in growing Minneapolis suburbs, Albuquerque, and Atlanta suburbs with 16-19 yrs left of the NNN leases.  Combined NOI of $1.029M.  $13.719M.  7.5% cap.  Buyer with $3+M equity to assume $10.65M non-recourse loans at low 5.49%-5.68%. Available as portfolio only.

2.     Advance Auto Parts in Cincinnati, OH: 10,000 SF single-tenant retail building on 1.13 ac lot at major retail corridor in densely populated area. This is a well performing store. $1.968M. 8.4% Cap.

3.     Retail Center in Indianapolis, IN: 4852 SF retail center shadow-anchored by a new LA Fitness with excellent visibility along busy corridor. 100% NNN leased to 2 brand-name tenants: Aspen Dental and Check into Cash. NOI $114K/yr. $1.343M. 8.5% Cap.

4.     Retail Center in Carmel, IN: 10,608 SF newly constructed retail center on 1.79 ac lot with excellent tenant mix in affluent North Indianapolis suburbs. 100% leased. NOI $292K/yr. $3.480M. 8.4% Cap.

5.     Shopping Center in Lakewood, CO: 53,262 SF well-maintained shopping center on 4.31 acres lot.  High traffic location. 87% leased. NOI $652K/yr. $7.5M. 8.7% Cap.

6.     Shopping Center in Austin, TX: 26,310 SF shopping center built in 2004. Shadow-anchored by Wal-Mart Supercenter and Lowe’s with good tenant mix: CATO, ColorTyme, First Cash Advance, Fantastic Sam’s and more. 100% leased. NOI $504K/yr. $5.775M. 8.74% Cap.

7.     Retail Center in Magnolia, TX: 22,260 SF retail center built in 2005 on 2.85 acres lot shadow-anchored by Home Depot in growing Houston metro. 88% NNN leased. NOI $363K/yr. $3.995M. 9.14% Cap. Upside potential.

8.     Shopping Center in Loganville, GA: 43,319 SF neighborhood center built in 2000 on 4.98 ac of land near Hwy-78 in Atlanta metro. 100% leased. NOI $320K/yr. $3.250M. 9.85% cap.

9.     Medical Office in Garden Grove, CA: 16,000 SF 2-story multi-tenant medical building on .91 ac lot close to Disneyland in densely Los Angeles area. 81% leased. NOI $129K/yr. $1.435M. 9.05% pro forma cap.  Less than $90/SF in CA!

10.  Shopping Center in Memphis, TN: 51,542 SF shopping center built in 1990 on 5.22 ac lot near Hwy-385. Shadow-anchored by Big Lots. 92% leased. NOI $267K/yr. $2.5M. 10.70% cap.