03-02: Chili's Grill & Bar, Golden Corral, Kmart, Walgreens, Ramada Hotel

1. Chili’s Grill & Bar in Deland, FL: 5876 SF restaurant built in 2008 across form Wal-mart Supercenter and near Northgate Shopping Center in Orlando metro. 10 yrs absolute NNN corp ground lease (land is for sale. Should tenant not renew lease, the building is reverted to you) with 6+ yrs left. NOI $99K/yr with 7% rent increase in 2013. $1.554M. 6.4% cap.  
2. Bank-owned Strip Center in Coeur d’ Alene, ID: 16,584 SF strip center built in 1998. Shadow-anchored by Target, Michaels, Ross & Office Max. Next to Silver Lake Mall and Hwy-95. In growing middle-class city just 30minutes East of Spokane, WA. 100% leased to three tenants. NOI $148K/yr. $1.86M. 8% cap.  
3. Golden Corral in Pembroke Pines, FL: 10,341 SF buffet restaurant on 1.81 ac lot along busy blvd. In growing & middle-class Fort Lauderdale. 100% absolute NNN leased with 9 yrs left to largest Golden Corral franchisee. NOI $235K/yr with annual rent increases. $2.91M. 8.10% cap. 
4. Retail Center in Largo, FL: 11,984 SF renovated retail center on 1.50 ac lot at a hard corner in Tampa metro.  Across from Publix anchored shopping center. 90% NNN leased. NOI $118K/yr. $1.5M. 7.93% cap.  
5. Shopping Center in India Trail, NC: 20,273 SF newly constructed shopping center adjacent to Stone Theatre: 14-screen movie theatre development planned to open June 2012.  In fast growing Charlotte suburbs. 100% NNN leased. NOI $393K/yr. $4.79M. 8.22% cap. 
6. Kmart in Niagara Falls, NY: 102,200 SF big-box retail building constructed in 1998 on 10.78 acres just North of Fashion Outlets of Niagara Falls. 100% NNN corp lease with 11+ yrs left. NOI $470K/yr. $6.27M. 7.5% cap. 
7. Office Building in Costa Mesa, CA: 63,000 SF 2-story well-kept office building on 4.17 ac lot next to Fwy-55. In high income coastal city in Southern CA. 80% leased. NOI $624K/yr. $8.95M. 7% Proforma cap. 
8. Walgreen’s in West Palm Beach, FL: 15,120 SF Walgreens at a major intersection.   Outparcel to Wal-Mart Supercenter. 100% NNN lease with 9 yrs left. NOI $350K/yr. $4.87M. 7.3% cap.  
9. Retail Center in Placerville, CA: 18,193 SF attractive retail center built in 2006 on 1.70 ac lot across from Wal-Mart in growing city East for Sacramento. 100% leased. NOI $455K/yr. $4.525M. 7.10% cap. 
10. Ramada Blue Ridge in Raleigh, NC: 123-room 87,532 SF hotel on 5.87 acres lot in high income area. Next to busy thoroughfare & close to RBC Center and Carter-Finley Stadium. Easy access to I-440 & I-40.  $4.92M. Just $40K per key.

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