1. REO Shopping Center in Avondale, AZ: 33,731 SF newly constructed shopping center anchored by Staples at a signalized active (154,000 CPD) corner location near I-10. 65% NNN leased. Pro forma NOI $404K/yr. $3.595M. 11.26% Cap.
2. REO Office Building in Frankfort, IL: 28,824 SF attractive 3-story multi-tenant office building constructed in 2003 along I-80 in wealthy (AHI $93K/yr within 1-mile) Chicago metro. The building features an oak wood paneled lobby, oak wood suite entries and polished brass trimmings. The suites in this building were originally designed to be professional condos and all units are individually metered. 70% leased. NOI $107K/yr. $1.375M. 7.79% Actual Cap. Upside Potential.
3. DSW Shoe Warehouse in Cincinnati, OH: 20,790 SF retail building on 2.15 ac lot in prosperous (AHI $103K/yr within1-mil) neighborhood next to I-71. 100% NNN leased. Tenant has been here since 1996 and just renewed 5 yrs extension. NOI $208K/yr. $2.5M. 8.32% Cap.
4. Walgreen’s in Las Vegas, NV: 13,905 SF drugstore built in 1999 on 1.72 ac lot close to Wal-Mart at a busy signalized intersection. 8-yrs left on NNN- lease. NOI $531K/yr. $7.275M. 7.3% Cap.
5. Strip Center in Glen Cove, NY: 7,200 SF well-maintained strip center on .53 ac lot with excellent visibility in New York metro. Affluent neighborhood with AHI of $132K/yr in 1 mile. 90% leased. NOI $134K/yr. Price reduction from $1.625M to $1.495M. 9% Cap.
6. Fresh & Easy in Avondale, AZ: 14,390 SF grocery store at strong retail location near Fwy-10 in fast growing (11,070.59%) Phoenix suburbs. Long NNN Ground Lease (buyer owns land). Fresh & Easy's parent company, Tesco, is the world's 3rd largest grocer (#1 grocery brand in the UK) and operates approximately 4,800 stores in Europe, Asia and the United States. NOI $119K/yr. $1.714M. 7% Cap.
7. Hotel in Orlando, FL: 214-room hotel built in 1990 on 4.43 ac lot across from Dr P Phillips Hospital and close to numerous theme parks. Conveniently located next to Fwy-4. 56% Average Occupancy. NOI $428K/yr. $6.780M. 6.32% Cap.
8. Bass Pro Shops in Portage, IN: 130,000 SF single-tenant retail building in a coastal town Southeast of Chicago with I-94 visibility. Roughly 16-years remaining on lease. NOI $517K/yr. $7.250M. 7.14% Cap.
9. JC Penny Home Store in Pembroke Pines, FL: 50,000 SF retail building developed in 1998 on 4.27 acres lot next to Ethan Allen and BJ’s close to I-75 in Miami metro. Corporate lease. NOI $594K/yr. $7.8M. 7.62% Cap.
© Transmercial 2011.
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