12-02: O'Reilly, Walgreens, Surgery Center, Burger King, JIB, Smart & Final, Del Taco, Car Dealer

1. O’Reilly in Yuba City, CA: 8200 SF O’Reilly auto parts about 30 minutes North of Sacramento.  20 yrs NNN lease with 7 yrs left.  NOI $109K/yr with CPI-based rent bump every 5 yrs.  $1.483M. 7.34% cap. 
2. Walgreens in Yuba City, CA: 25000 SF Walgreens with drive thru.  100% NNN- till 2022.  Tenant has been here since 1970.  NOI $208K/yr. $2.717M. 7.5% cap. 
3. ENT Surgery Center in Columbus, OH: 14,970 SF Eye Nose Throat (ENT Surgery Center on 3.38 acres lot with 6 operating rooms and 23 ENT physicians performing over 6000 procedures/year.  100% NNN leased with 6 yrs left.  NOI $510K/yr. $5.775M. 8.83% cap. 
4. Burger King in Spring City, PA: 2250 SF Burger King on 1 ac lot in Philadelphia suburbs.  100% NNN corp lease till 2020.  NOI $80K/yr. which will go up to $120K/yr in the first option.  $1.18M. 6.77% cap (10.17% cap when tenant exercises option). 
5. Jack in The Box in Houston, TX: 2515 SF JIB built in 2007 on .7 ac lot in a booming area with East Beltway 8 frontage.  20 yrs absolute NNN corp lease with 15 yrs left.  NOI $96K/yr with 8% rent bump in 2012.  $1.576M. 6.25% cap. 
6. Smart and Final in Bakersfield, CA: 20,815 SF retail center built in 2001 on 2.2 ac lot.  15 yrs NNN corp lease with 5 yrs left to Smart and Final, a grocery chain with 250 stores.  NOI $310K/yr. with 10% rent bump every 5 yrs.  $4.277M. 7.25% cap.
7.  Retail Center in Long Beach, CA: 5676 SF 2-tenant retail center on .37 ac lot in densely populated city in Los Angeles.  100% NNN leased to Golden Burgers and London Liquor with 7-8 yrs left.  NOI $134K/yr. $1.675M. 8% cap. 
8. Del Taco in Parker, CO: 2165 SF Mexican fast food restaurant on .64 ac lot in fast growing and affluent Denver suburbs.  20 yrs NNN lease with 19 yrs left.  NOI $176K/yr with 12-15% rent bump every 5 yrs. $2.28M. 7.75% cap. 
9. Car Dealer in Miami, FL: 2928 SF car dealer on .92 ac lot on busy US 441.  100% NNN leased till 2015.  NOI $89K/yr.  $1.1M. 8.08% cap. 
10. Retail Center in North Riverside, IL: 58,366 SF retail center with institutional quality construction on 5.9 acres lot in Chicago metro.  Long term NNN lease to Sports Authority, Bally Total Fitness, Chase Bank and Boost Mobile.  NOI $666K/yr. $8.595M. 7.75% cap.  Buyer to assume $6.548M loan.

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