11-02: 24-Hours Fitness, Medical Office Building, Golfsmith, Applebee's

1. Shopping Center in Gardena, CA: 27,966 SF shopping center developed in 2002 with large monument sign along eminent blvd. Anchored by Smart & Final Grocery in densely populated Los Angeles city. 100% NNN leased. NOI $639K/yr.  $9.15M. 7% cap. 
2. 24 Hours Fitness in Murray, UT: 35,436 SF fitness center built in 2004 outparcel to Fresh Market and Big Lots anchored shopping center. Near I-215 in middle-class area & minutes from Salt Lake City downtown. NNN- corp lease till 2024. NOI $670K/yr. $7.445M. 9% cap. 
3. Shopping Center in Petaluma, CA: 30,135 SF shopping center shadow anchored by Lucky Supermarket close to Hwy-101 in well-off area North of San Fran (AHI $102K/yr in 3 miles). 90% leased by great tenant mix: Blockbuster Video, UPS Store, Subway and Pizza. NOI $588K/yr. $8.2M. 7.17% Proforma cap.  
4. Medical Building in Fresno, CA: 7000 SF well-maintained single-tenant medical office building next to Frwy-41. 100% NNN leased to Children’s Hospital Central California. NOI $107K/yr. $1.195M. 9% cap.  
5. Strip Center in Mesa, AZ: 10,421 SF attractive strip center on 1.14 ac lot shadow anchored by AJ’s Fine Foods grocery in upper middle class area (AHI $90K/yr in 1 mile). 100% leased to Panda Express, Yogurtland, Chipotle, Pacific Dental and Jamaica Me Tan. NOI $272K/yr. $3.472M. 7.85% cap.  
6. Retail Building in Clovis, CA: 3784 SF retail center shadow-anchored by OSH and across from Wal-Mart, Michaels, and Walgreen’s at main retail corridor in Fresno metro. 100% NNN leased to Starbucks and Parrot Cellular. NOI $97K/yr. $1.398M. 7% cap. 
7. Golfsmith in Clinton Township, MI: 19,042 SF single-tenant retail building shadow-anchored by Lowe’s. Close to Lakeside Mall and The Mall at Partridge Creek. 100% NNN- leased with 7 yrs left. NOI $245K/yr with 10% rent increase in 2014. $2.889M. 8.5% cap.  
8. Applebee’s in Las Vegas, NV:  5866 SF restaurant across from Sunrise Hospital and near Las Vegas Convention Center & just minutes from The Strip. One of the highest volume Applebee’s in its market of $2.8M. Absolute NNN lease till 2031. NOI $200K/yr with 7.5% every 5-yrs. $2.96M. 6.75% cap. 

© Transmercial 2011.