02-20: Nursery, Retail center, Car wash/Gas station, La Quinta, Rite Aid, Panera Bread

1. Calloway’s Nursery in Flower Mound, TX: 4898 SF single-tenant retail center built in 2008 on 3.23 acres lot on 6-lane road in a high-end residential area (AHI $108K/yr in 1 mile) in Dallas suburbs.  20 yrs absolute NNN corp lease till 2028 to Calloway’s Nursery (OTC: CLWY) with 19 centers and over $40M in sales.  NOI $278K/yr. with 5% rent bump in 2019. $3.25M. 8.55% cap. 
2. Retail Center in Waukegan, IL: 14,180 SF retail center built in 2005  on 1.19 ac lot across from 115,000 SF Big K in Chicago metro.  Anchored by a 9500 SF O’Reilly.  91% NNN leased to 3 tenants.  Current NOI $274K/yr. $2.825M. 9.7% cap. 
3. Car Wash and Gas Station in Burlingame, CA: 2400 SF established car wash and independent Gas station on ¼ ac lot in affluent city (AHI $138K/yr) about 4 miles from San Francisco airport.  NOI $209K/yr. $1.9M. 11% cap.  Price includes real estate and business. 
4. Office Building in San Antonio, TX: 61,643 SF single-tenant office building completed in 1993 on 7.85 ac lot.  State-of-the-art and LEED-certified facility.  100% NNN leased till 2017 to Accenture (NYSE: ACN), a global management consulting, technology services and outsourcing company. NOI $989K/yr. $9.5M. 10.4% cap. 
5. La Quinta Inn & Suites in Austin, TX: 80-room 3-story 41,226 SF La Quinta built in 2010 on 2.33 ac lot with best-in-class finishes.  NOI $505K/yr. $7.2M. 7% cap. 
6. Sonics in San Antonio, TX: 1444 SF Sonics Drive In on .65 ac lot built in 2001 on .65 ac lot.  15 yrs absolute NNN corp lease with 6 yrs left.  NOI $78K/yr. $917K.  8.5% cap. 
7. Rite Aid in Greece, NY: 13,604 SF Rite Aid built in 2008 on 1.82 ac lot in Rochester suburbs.  20 yrs absolute NNN lease with 17 yrs left.  NOI $551K/yr with 10% rent bump every 10 yrs.  $6.308M. 8.75% cap. 
8. Panera Bread in Temecula, CA: 4850 SF single-tenant retail center built in 2010 on 1.49 ac lot adjacent to the 1.14 Million Square Foot Promenade Regional Mall Featuring Macy' s, JC Penney, Sears, Costco and Forever 21. 10 yrs NNN corp lease to Panera Bread (NASDAG: PNRA).  Excellent demographics: high growth, high income area.  NOI $174K/yr. with 10% rent bumps every 5 yrs. $2.91M. 6% cap.

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