03-27: Perkins Restaurant & Bakery, Buffalo Wild Wings, Taco Bell, MOB

1. Perkins Restaurant & Bakery in Independence, MO: 5174 SF newly constructed restaurant on 1.44 ac outparcel to Wal-Mart Supercenter & Sam’s Club. Next to Fwy-291/I-70 in middle-class Kansas City suburbs.  Close to Centerpoint Medical Center and Independence Center Mall. 20 yrs absolute NNN lease to experienced operator. NOI $136K/yr with 1% annual rent increases. Store with strong sales of over $1.7M already. $1.65M. 8.5% cap.  
2. Shopping Center in Chesterfield Township, MI: 41,569 SF shopping center built in 1995 at a main retail corridor close to I-94. In fast growing & middle-class Detroit metro. Anchored by 9728 SF O’Reilly Auto Parts, 9240 SF Pet Supplies, 3757 SF Play It Again Sports, and 3000 SF Aspen Dental.  100% NNN leased to 7 tenants. NOI $528K/yr. $6.41M. 8.25% cap.  
3. Retail Center in Jacksonville, FL: 35,200 SF well-maintained retail center built in 2003 on 2.13 ac lot across from Florida State College and near Hwy-90.  Excellent visibility with all units facing the main road.  High growth area: 41% since 2000. Anchored by 8800 SF Humana Medical Group.  100% leased to seven tenants. NOI $350K/yr. $4.382M. 8% cap.  
4. Retail Center in Dayton, OH: 24,440 SF retail center consisting of 3-parcels constructed in 2007 on 8.85 acres in densely populated area. Shadow-anchored by Kroger supermarket. 80% NNN leased to 3 tenants: 6600 SF Aaron’s Rent, 9900 SF Ross Medical Education Center, 3500 SF Wright-Patt Credit Union ($2B in assets and over 200,000 members). Current NOI $171K/yr. $2.115M. 8.75% cap. Upside potential.  
5. Shopping Center in Hemet, CA: 54,280 SF well-kept shopping center on 7+ ac lot in growing Inland empire.  shadow-anchored by Big Lots and anchored by True Value Hardware and Rent-A-Center. 82% leased. NOI $414K/yr. $5.523M. 7.5% cap.  
6. Buffalo Wild Wings in Columbia, SC: 6472 SF restaurant built in 2001 on 1.34 ac outparcel to Wal-Mart Supercenter.  Near Village at Sandhill in well-off (AHI $118K/yr) area. 100% NNN corp. lease with 9 yrs left to Buffalo Wild Wings with 650+ locations in 43 states. NOI $155K/yr with 7.5% rent bumps every 5 yrs. $2.143M. 7.25% cap.  
7. Taco Bell in Folsom, CA: 2600 SF high-quality construction restaurant built in 2007 in growing (122.43%) & affluent Sacramento suburbs (AHI $130K/yr in 3 mile radius).  Surrounded by Best Buy, Sam's Club, Staples, Whole Foods, nearby Costco and to be completed Kaiser Permanente Hospital campus. 100% NNN leased till 2027 to Yum Brands (NYSE: YUM). NOI $114K/yr. $1.795M. 6.35% cap. 
8. MOB in North Richland Hills, TX: 15,132 SF multi-tenant medical office building on 1.53 ac lot close to North Hills Hospital, North East Mall and I-820/NE Loop-820. Recent upgrades include: new roof, re-paved parking lot and 10 new HVAC units. 100% leased to 8 tenants, 7 of them medical. NOI $106K/yr. $1.1M. 9.70% cap.  
9. Shopping Center in Tampa, FL: 42,274 SF shopping center on 4+ ac lot at a signalized intersection. Anchored by 18,000 SF Save-A-Lot, a grocery chain with 1250 stores. Next to Big Lots anchored center. 100% NNN leased to 8 tenants. NOI $371K/yr. $4.125M. 9% cap.

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