1. Shopping Center in Magnolia, TX: 22,260 SF shopping center on 2.86 acres lot in front of Home Depot in fast growing upper middle-class (AHI $99K/yr in 1 mile) community in Houston suburbs. 89% NNN leased to 7 tenants with 1 avail unit. Current NOI $359K/yr. $3.991M. 9% cap. Upside potential when 100% leased.
2. Medical Office Building in San Antonio, TX: 22,664 SF 2-story medical office building on 1.6 acres lot. 99% leased. NOI $235K/yr. $2.8M. 8.42% cap.
3. Walgreens in El Paso, TX: 15,120 SF drug store built in 2000 on 1.5 acres corner lot with Loop 375 frontage. 9 yrs remaining on NNN- lease. Store with strong $8+M in sales. NOI $338K/yr. $4.225M. 8% cap. No state income taxes.
4. Jack In the Box in Newberg, OR: 2480 SF new Jack In the Box to be completed in Nov 2011 on .6 ac parcel corner lot across from FredMeyer, Safeway, Bi-Mart. New 20 yrs absolute NNN lease from an operator with 60+ locations with personal guaranty. NOI $140K/yr. with 1% annual rent bump. $2M. 7% cap.
5. Shopping Center in Flower Mound, TX: 31,939 SF shopping center built in 1998 on a major artery in affluent Dallas metroplex (AHI $116K/yr in 1 mile). Shadow anchored by Walgreens. 97% NNN leased. NOI $481K/yr. $5.5M. 8.75% cap.
6. Retail Center in Cordova, TN: 15,100 SF 3-unit retail center built in 1991 on 1.44 acres lot across from super Target and Wal-mart in middle class Memphis metro. 75% NNN leased to AutoZone and Baptist Minot Medical Center. Pro forma NOI $250K/yr. $2.95M. 8.5% cap.
7. Taco Bell in Jackson, TN: 2648 SF restaurant built in 1999 on .85 ac lot near I-40. 15 yrs NNN lease. NOI $136K/yr. $1.679M. 8.1% cap.
8. Car Care Center in Naples, FL: 11,000 SF multi-tenant car care center on 1.29 acres lot on a major artery in high income area (AHI $91K/yr in 3 miles). 100% leased to 4 tenants. NOI $119K/yr. $1.45M. 8.2% cap.
© Transmercial 2011.
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