03-13: Goodyear, Apartments, shopping centers

Advisory: “Property on ground lease” is among the most confusing phrases in commercial real estate.  Sometimes it means only land is for sale and sometimes it means only building is for sale. Click here to the full article.

1.  Goodyear in Apex, NC: 7110 SF single-tenant retail building built in 2008 on .90 ac lot outparcel to 1Million SF regional power center and next to US-64. In wealthy (AHI $103K/yr) Raleigh suburbs. 100% NNN corp lease with 8 yrs left. NOI $216K/yr. with 5% rent bumps in each 5-yr option. $2.88M. 7.50% cap.  
2. Business Center in Austin, TX: 33,626 SF well-maintained business center on 1.94 acres lot next to Hwy-183. Excellent tenant mix: medical, retail and business services. 95% NNN leased to 6 tenants. NOI $397K/yr. $4.813M. 8.25% cap.  
3. Townhomes in Arlington, TX: 70-units 2-story townhomes complex on 5.16 acres lot close to parks and shopping centers in Dallas/Fort Worth metro. Large 2 & 3 bedrooms units. 100% occupied. NOI $388K/yr. $3.6M. 10.80% cap.  
4. Shopping Center in Redding, CA: 44,242 SF in-line shopping center remodeled in 2007 on 3+ ac lot shadow-anchored by Dollar Tree. Next to Hwy-273 in Northern CA. 84% NNN leased. NOI $327K/yr. $4.88M. 8% cap.  
5. Retail Center in Virginia Beach, VA: brand-new 7,233 SF retail center on .76 acre outparcel to 165,000 SF Power Center in middle-class coastal city. 10 yrs NNN corp leased to both Starbucks and Sleepy’s, a regional tenant with 700+ stores. NOI $204K/yr. $2.6M. 7.86% cap.   
6. Retail Center in Long Beach, CA: 5678 SF two-tenant remodeled retail center on .37 ac lot at a hard corner location in densely populated area. 100% NNN leased to London Liquor and Garden Burgers till 2020 and 2019. Both tenants have been here for 20+ yrs. NOI $137K/yr. $1.715M. 8% cap. 
7. Shopping Center in Plano, TX: 21,000 SF attractive shopping center built in 2006 across from Wal-Mart Supercenter in affluent Dallas suburbs. 100% leased to credit tenants. NOI $428K/yr. $5.41M. 8.50% cap.  
8. Strip Center in Lilburn, GA: 9974 SF strip center next to The Home Depot and along Hwy-10. In fast growing Atlanta suburbs. 100% NNN leased. NOI $122K/yr. $1.25M. 9.80% cap.  
9. Retail Center in Naples, FL: 12,960 SF beautiful retail center at highly visible location in fast growing Fort Meyers metro. 100% leased NOI $108K/yr. $1.299M. 8% cap.

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