07-28: Michaels, La Petite Academy, Burger King, Carl's Jr, 24-Hrs Fitness Center

1. Michael’s in Lafayette, LA: 33,225 SF recently remodeled retail building on 3.5 ac lot across from The Mall of Acadiana. Part of power center anchored by Office Depot, TJ Maxx, Party City, Stein Mart, Pets mart, Shoes Carnival, Burke’s Outlet, Kids R Us and Dollar Tree.  100% NNN- leased to Michael’s Store, Inc till 2021. NOI $391K/yr with rent increases every 5-yrs. $4.888M. 8% Cap.  
2. La Petite Academy in Las Vegas, NV: 6740 SF day care facility built in 1991 just minutes from The Strip. 100% absolute NNN lease with new 5 yrs renewal. NOI $85K/yr. $990K. 8.60% Cap.  
3. Burger King in Centennial, CO: 2,885 SF fast food restaurant next to Centennial Medical Plaza in affluent (AHI $129K/yr within 1-mile radius) Denver suburbs. 100% absolute NNN lease with 9+ yrs remaining to an operator with 24 units. NOI $126K/yr with annual rent increases.  $1.575M. 8% Cap.  
4. Carl’s Jr. in Las Vegas, NV: 2998 SF single-tenant restaurant built in 1994 on .44 ac lot across from Albertson’s anchored center. New 20-years absolute NNN lease. NOI $120K/yr. $1.739M. 6.90% Cap.  
5. HHGREEG in Boca Raton, FL: 41,520 SF retail building across from The Home Depot anchored center along busy (26,500 VPD) thoroughfare.  In prosperous (AHI $114K/yr) neighborhood. 10 yrs NNN leased to HHGregg, consumer electronics and home appliances retailer with 131 stores in 11 states. NOI $809K/yr. $9.990M. 8.11% Cap.  
6. 24-Hour Fitness in Huntington Beach, CA: 30,070 SF well-maintained fitness center on 2.59 ac lot in affluent coastal city with AHI of $112K/yr. 100% NNN corporate lease. NOI $587K/yr. $6.912M. 8.50% Cap.  
7. Retail Center in Lancaster, CA: 6400 SF brand new retail center at a signalized intersection in growing town just North of Los Angeles. NOI $137K/yr. $1.295M. 10.6% Cap.

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