08-02: Applebees, Shopping centers, Quality Inn, Dunkin Donuts, Burger King, Christian Brothers Auto, AT&T

1. Applebees in Fort Collins, CO: 4700 SF family restaurant built in 1997 on .82 ac outparcel to a shopping center anchored by Michael’s and TJ Maxx.  Across from Target in middle upper class city just North of Denver. 20 yrs absolute NNN lease.  Store with strong $1.6M in sales.  NOI $125K/yr with rent bump avg 9% rent bump every 5 yrs.  $1.537M.  $8.15% cap. 
2. Shopping Center in Columbia, SC: 30,917 SF 14-unit mature shopping center between I-20 and 1.1M SF Columbia Place Mall.  80% leased.  Current NOI $290K/yr. $2.975M. 9.75% cap. 
3. Shopping Plaza in Coconut Creek, FL: 37,631 SF shopping plaza built in 2005 in upper growing middle class Fort Lauderdale.  Shadow anchored by Publix Supermarket and CVS.  98% NNN leased.  NOI $872K/yr. $10.9M. 8% cap. 
4. Office Building in Plano, TX: 20,500 SF 2-story class office building completed in 1996 on 3.61 acres lot in affluent Dallas suburbs (AHI $131K/yr in 1 mile).  100% NN leased to Lillibridge Healthcare Services.   NOI $430K/yr. $3.575M. 11.81% cap. 
5. Quality Inn in Sacramento, CA: 132-unit motel renovated in 2005 on 2.45 acres lot near I-80 exit.  NOI $520K/yr. Price reduced from $6.5M to $5.875M. 8% cap. 
6. Dunkin Donuts in Southaven, MS: new 1750 SF Dunkin Donuts on .4 ac outparcel to a major movie theater in growing Memphis suburbs.  Long term absolute NNN lease.  NOI $68K/yr.  Only $880K/ 7.75% cap. 
7. Burger King in Auburn, WA: 3885 SF restaurant built in 1996 on 1.03 acres outparcel across the Super Mall of the Great Northwest in Seattle metro. 100% NNN corp lease till 2015. NOI $84K/yr.  $1.21M.  6.95% cap.  WA has no state income taxes. 
8. Christian Brothers Automotive in Shawnee, KS: 4921 SF automotive repair center built in 2009 on 1 ac lot in fast growing & high income (AHI $93K/yr in 3 miles) Kansas city suburbs.  15 yrs absolute NNN corp lease to CBA with 80+ locations in 11 states.  NOI $176K/yr with 1.5% annual rent bump. $2.02M.  8.75% cap. 
9. AT&T Wireless in Corpus Christi, TX: 3000 SF single-tenant retail center on .65 ac lot with direct access to US-77.  Long term NNN lease.  NOI $80K/yr. $1.106M. 7.25% cap.

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