03-16: Valvoline, Dunkin Donuts, Sammy's Pizza, Automotive center, Retail centers

1. Valvoline in Bakersfield, CA: 2936 SF Valvoline Oil Changes, auto services center built in 2009 on .75 ac out parcel to a shopping center anchored by Lowe’s, Foods Co grocery and O’Reilly Auto parts.  15 yrs absolute NNN lease with 12 yrs left with a personal guaranty from a franchisee with 40 locations.  NOI $96K/yr with 12.5% rent bumps every 5 yrs (next increase in 2014). $1.297M. 7.4% cap (8.39% in 2014). 
2. Dunkin Donuts & Baskin Robbins in Atlantic Beach, FL: 2200 SF retail building constructed in 2006 on .51 ac lot shadow-anchored by Publix shopping center. At main artery and 7 blocks from the beach in affluent Jacksonville metro (AHI $91K/yr). 100% NNN ground lease. NOI $56K/yr with 12.5% rent increases every 5 yrs. $800K. 7% cap.  
3. Strip Center in Crete, IL: 10,200 SF well-maintained strip center on 1.25 ac lot in affluent (AHI $116K/yr) Chicago metro. 100% NNN leased to established tenants. NOI $130K/yr. $1.37M. 9.52% cap.  
4. Office Building in Downey, CA: 31,824 SF Class-A newly-constructed multi-tenant office building at a corner location. In upper middle-class area in Los Angeles & with easy access to I-5. NOI $442K/yr. $5.9M. 7.5% Proforma cap.  
5. Sammy’s Woodfired Pizza in Las Vegas, NV: 5000 SF restaurant built in 1997 on 1.11 ac lot along main retail corridor and close to multiple automobile dealership locations. 100% NNN lease. This is a leaseback investment. NOI $222K/yr. $2.725M. 8.15% cap.
6. REO Office Building in Southlake, TX: 25,828 SF Class-A upscale office building constructed in 1998 on 3.15 acres lot in affluent (AHI $248K/yr in 1 mile) Dallas metro. NOI $287K/yr. $2.325M. 12.37% Proforma cap.  
7. REO Office Building in Grapevine, TX: 16,957 SF 2-story office building constructed in 2000 on 1+ ac lot near Baylor Regional Medical Center Grapevine and with excellent access to Hwy-121/114. 91% occupied with 1 vacant unit.  NOI $283K/yr. $2.3M. 10.36% Proforma cap.  
8. Retail/Office Center in Lincoln Park, NJ: 11,640 SF mix-used center on .52 ac lot in wealthy (AHI $126K/yr in 3 miles radius) New York metro. 100% leased to four retail tenant and six offices. NOI $90K/yr. $1.125M. 8% cap.  
9. Automotive Center in Antioch, CA: 19,380 SF automotive center built in 2004 on 1.5 ac lot in Northern CA.  100% leased to 6 tenants.  NOI $225K/yr. Price reduced from $2.8M to $2.45M. 9.2% cap. 
10. Retail Center in Lewisville, TX: 29,079 SF retail center built in 2005 on a corner lot in upper middle class Dallas suburbs.  Shadow anchored by Wal-mart Neighborhood Market.  92% leased.  NOI $370K/yr. $4.1M. 9.04% cap.

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