1. Strip Center in Spring, TX: 9000 SF 2-years old strip center at signalized corner close to Splashtown-Houston water park and next to I-45. Plans for additional 3000 SF. 100% NNN leased. NOI $246K/yr. $2.9M. 8.5% Cap.
2. Walgreen’s in Las Vegas, NV: 15,120 SF pharmacy built in 1999 on 1.62 ac lot close to Mountain View Hospital with excellent access to Fwy-95. 8-yrs left on NNN- lease. NOI $405K/yr. $5.550M. 7.3% Cap.
3. Retail Center in Rego Park, NY: 9605 SF well-maintained retail center along busy boulevard in middle-class (AHI $73K/yr) neighborhood. 100% leased. NOI $305K/yr. $4M. 7.6% Proforma Cap.
4. Fazoli’s in Champaign, IL: 3000 SF Italian quick service restaurant built in 1995 on .83 ac lot on a pad site to Staples, Dollar Tree, Famous Footwear and PetSmart anchored center near I-74/55. Absolute NNN corp leased till 2020 with corp guaranty. NOI $78K/yr with 10% rent bumps every 5-years. $1.076M. 7.25% Cap.
5. REO Apartments in Houston, TX: 61-unit multifamily complex on 2.38 ac lot close to Beltway-8 and I/10. High income area. NOI $104K/yr. $1M. 10.40% Cap. Only $16,393 per unit!
6. Golfsmith in Downer Grove, IL: 25,000 SF recently renovated retail building shadow-anchored by Home Depot and Sam’s Beverage and near I-355. Absolute NNN corp lease till 2021. Tenant has been here since 1999. High income Chicago suburbs (AHI 98K/yr in 3 miles). NOI $436K/yr with rent increases every 2½ years. $5.680M. 7.68% Cap.
© Transmercial 2011.
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