11-28: Sonic, Data Center, Subway, Strip Centers, Sherwin Williams, DaVita

1. Sonic Burger in Colonial Height, VA: 1680 SF Sonic restaurant built in 2006 on .91 ac lot in high income Richmond suburbs. Strong sales of $1.6M.  Long term NNN lease.  NOI $150K/yr. $1.985M. 8% cap. 
2. Shopping Center in Baltimore, MD: 14,353 SF 2-building retail (1 building is Popeye’s Chicken) center on 2.07 ac lot.  100% NNN leased to 8 tenants.  NOI $274K/yr. $3.35M. 8.18% cap. 
3. Data Center in Austin, TX: 62,237 SF data center on 18 ac lot with I-35 frontage.  100% NNN leased to SunGard, a Fortune 500 company with $5B in revenue.  NOI & price N/A. 8% cap. 
4. Subway in Cape Coral, FL: 2812 SF free-standing retail center on .36 ac lot on a major artery.  Long term NNN lease.  NOI $45K/yr. $750K. 6.08% cap. 
5. Medical Office Building in Las Vegas, NV: 9900 SF medical office building completed in 2008 in booming (474% since 2000) and high income area.  Across from Centennial Hills Hospital Medical Center.  100% NNN leased to DaVita Dialysis and Kidney Specialist of Southern Nevada.  NOI $326K/yr. $4.4M. 7.42% cap. 
6. Strip Mall in El Cajon, CA: 5000 SF strip center on .37 ac corner lot.  100% leased to 2 tenants: Antique & Café/Bar.  Tenants have been here for 10 yrs.  NOI $81K/yr. $900K.  9% cap. 
7. Sherwin Williams Paint in Concord, NC: 5000 SF single-tenant retail center on .54 ac lot in Charlotte suburbs.  Long term NNN lease to Sherwin Williams Paint (S&P A-).  NOI $72K/yr. $995K.  7.25% cap. 
8. Medical Office Building in Oxnard, CA: 4930 SF 2-story medical office building in stable upper middle class area with elevator and ADA-equipped restroom.  100% leased to 2 dental tenants who have been here for 15 yrs.  NOI $64K/yr. $850K. 7.61% cap. 
9. Retail Center in New Port Richey, FL: 7000 SF retail center built in 2006 on 1 ac outparcel to Lowe’s in Tampa metro.  100% NNN leased to 5 tenants: 4 national and 1 local.  NOI $127K/yr. $1.595M. 8% cap. 
10. Strip center in San Leandro, CA: 11,000 SF strip center on the busy Hesperian Blvd. and close to I-880 and I-238 in Northern CA.  100% leased to 7 tenants.  NOI $96K/yr. $1.2M. 8% cap.

© Transmercial 2011.