5-26: Taco Cabana, Gold's Gym, Advance Auto Parts, DaVita, Family Dollar

1.     Taco Cabana in Houston, TX: 3500 SF attractive restaurant built in 2008 on 1.16 ac lot with excellent visibility from a dominant retail corridor in densely & affluent (AHI $101K/yr) area. 100% absolute NNN corporate ground lease till 2028 (land is for sale). NOI $69K/yr with 10% increases every 5-years.  Only $925K.  7.5% cap.

2.     Shopping Center in Salt Lake City, UT: 69,339 SF retail/office center on 2.89 acres lot at a  busy signalized intersection close to I-80. 95% leased by office/retail tenants. NOI $1,087K/yr. $13.38M. 8.13% Cap.

3.     Gold’s Gym in Clifton, CO: 41,908 SF fitness center constructed in 2008 on 3.84 ac lot  in Grand Junction metro. New 15-year absolute NNN lease. NOI $655K/yr. with 10% rent increases every 5-years $7.716M. 8.5% Cap. Buyer to assume $4.547M loan at 7.5% interest, fixed for 10 yrs.

4.     Retail Center in Milpitas, CA: 9884 SF mature retail center across from Fitness USA near I-680. 85% NNN leased. NOI $181K/yr. $2.250M. 6.21% Cap. Upside potential when 100% leased.

5.     Advance Auto Parts in Louisville, KY: 5386 SF newly renovated auto parts store on .74 ac lot surrounded by national tenants. New 10-years NNN- corp lease. NOI $52K/yr. $724K. 7.25% Cap.

6.     Aspen Optical in Mesa, AZ: 11,700 SF Class-B office building at hard corner along main corridor. NNN leased till 2017. Tennant has been at this location since 2000 and in the business for 30 yrs.  NOI $91K/yr. $912K. 10% Cap.

7.     DaVita in Casselberry, FL: 6232 SF medical office built in 2007 on over 1 ac lot in Orlando suburbs. 11 yrs NNN corp lease with CPI rent increases. NOI $188K/yr. $2.606M. 7.21% Cap.

8.     Retail Office Centers in Elizabeth, NJ: A portfolio of 3 retail office centers totaling 97,000 SF near City Hall and  Newark Airport. 100% NNN leased. Pro forma NOI $1.038M. $9.990M. 10.40% Cap.

9.     Office Building in Highland Ranch, CO: 35,000 SF multi-tenant office building in affluent (AHI $103K/yr within 1 mile radius) Denver metro. 90% leased. NOI $344K/yr. $4.3M. 8% Cap.

10.  Family Dollar in Eagle Lake, FL: 9180 SF retail building on 1.07 ac lot. 100 NNN- lease to national tenant with 8 yrs remaining. NOI $127K/yr. $1.422M. 9% Cap.     


© Transmercial 2011.