07-15: Retail centers, Advance Auto, Arbys, CVS, Office Building

AHI: Avg. Household Income.  National average is about $50+K/yr.

NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Retail Center in Lawrenceville, GA: 13,065 SF bank-owned retail center on 1.40 ac lot with excellent tenant visibility alongside busy highway in high income Atlanta metro (AHI $114K/yr in 1 mile). 87% NNN leased 6 tenants with 2 small vacant units. NOI $132K/yr. $1.2M. 11% Cap. 
2. Strip Center in Fort Lauderdale, FL: 13,018 SF well-maintained strip center on 2.30 ac lot at high traffic location close to I-95. 90% leased. NOI $90K/yr. $1.301M. 7% Cap.   
3. Retail Center in Lauderdale Lakes, FL: 17,916 SF mature retail center at a highly visible location. 100% leased to 8 established tenants. NOI $187K/yr. $2.239M. 8.4% Cap. 
4. Two-Tenant Retail Building in Indianapolis, IN: 8325 SF 4-year old retail building near Greenwood Park Mall. 100% NNN leased to Flagstar Bank and Family Christian Store. $2.450M. 
5. Advance Auto Parts in Arnold, MO: 7000 SF free-standing auto parts store built in 2000 along busy blvd near I-55 in Saint Louis metro.  Recently exercised 1^st renewal option. 100% NNN- Corporate lease with 6 yrs remaining. NOI $99K/yr. $1.212M. 8.25% Cap. 
6. Medical Building in San Jose, CA: 10,000 SF Class-B multi-tenant medical building near Santana Row, Valley Fair Mall and Hwy-280/880/17. 91% leased. NOI and price not avail. 
7. Arby’s in Chattanooga, TN: 2511 SF restaurant on .57 ac lot outparcel to Food Lion, Big Lots and Fred’s anchored-center. New 20-year NNN lease to an operator with 70 stores. NOI $59K/yr with 7.5% rent increases every 5 years. Only $721K. 8.25% Cap. 
8. Retail Center in Apple Valley, CA: 16,435 SF newly constructed retail center on 1.84 ac lot outparcel to The Home Depot. 83% NNN leased. NOI $395K/yr. $4.2M. 9.42% Cap.
9.  CVS in Levittown, PA: 10,125 SF drug-store built in 2000 on 1.5 acres lot in  middle class Philadelphia metro.  100% NNN- till 2028.  High volume location.  NOI $312K/yr. $4.433. 7.05% cap.
10.  Office Building in Anaheim, CA: 13,500 SF office building on .82 acre lot on a busty artery in densely-populated middle class city in Orange county.  90% occupied.  NOI $124K/yr. $1.75M. 7.1% cap.

© Transmercial 2011.