02-28: Goodyear, O'Reilly Auto Parts, Shopping Centers

1. Retail Center in Cedar Rapids, IA: 18,050 SF retail center built in 2007 outparcel to Wal-Mart supercenter. 100% leased to 6 tenants. NOI $275K/yr. $3.135M. 8.78% cap. 
2. Retail Center in New Harford, NY: 17,879 SF retail center on 2.40 ac lot with good tenant mix: Talbots, Verizon Wireless, Liberty travel, Fynmore Studios, RBC Wealth Management and Barone Howard Hilton & Powers CPA. Across from Sangertown Square Mall, an 880,000 SF enclosed regional mall. 100% leased. NOI $297K/yr. $3.964M. 7.5% cap. 
3. Shopping Center in Indianapolis, IN: 32,748 SF shopping center at a signalized location and along US-36.  High growth and high income area. 84% leased. NOI $422K/yr. $4.95M. 8.54% cap. 
4. Strip Center in Deerfield Beach, FL: 7920 SF attractive strip center built in 2005 in Fort Lauderdale suburbs with Hwy-1 frontage.  Anchored by AT&T with 60% of the income. 83% leased. NOI $179K/yr. with 15% rent bump in June 2013 for AT&T. $2.4M. 7.5% cap. 
5. Goodyear in Fort Mill, SC: 7560 SF auto repair center built in 2007 on .97 ac outparcel to Harris Teeter anchored center. On Hwy-160 and close to I-77 in Charlotte suburbs. 10 yrs  NNN- with 5+ yrs left lease. NOI $218K/yr. $2.57M. 8.5% cap. 
6. O’Reilly Auto Parts in Riverside, CA: 6000 SF auto parts retail building constructed in 2008 at a signalized corner location. In high income (AHI $117K/yr in 3 miles) and fast growing Los Angeles suburbs. 100% NNN corp lease. NOI $139K/yr with rare10% rent increases every 5 years. $2.18M. 6.4% cap. 
7. Shopping Center in Matteson, IL: 61,437 SF shopping center on 6.27 acres lot across from Lincoln Mall and near I-57 in middle-class Chicago metro. Anchored by FedEx Office, DaVita Dialysis, ATI Physical Therapy, and Family Christian Book Stores. 96% NNN leased. NOI $925K/yr. $8.95M. 10.34% cap. 
8. Shopping Center in Norwich, CT: 23,334 SF shopping center built in 1985 on 2.86 ac lot. Anchored by Advance Auto Parts. 100% leased. $5.5M. NOI/Cap not disclosed. 
9. Strip Center in Redding, CA: 13,877 SF newly constructed strip center next to Mt. Shasta Mall and near I-5/Hwy-44 in Northern CA. 58% leased to Starbucks Coffee, Mattress Discounters and Papa John’s. NOI $279K/yr. $2.1M. 13.30% actual cap. Upside potential. 
10. Strip Center in Commack, NY: 6400 SF multi-tenant retail center in wealthy (AHI l$135K/yr in 3 miles) NY suburbs. NOI $147K/yr. $1.825M. 8.10% cap.

© Transmercial 2012.