Wednesday, April 25, 2012

04-11: CVS Pharmacy, Advance Auto Parts, Rite Aid, MOB, Tire Works


  1. CVS Pharmacy in Chattanooga, TN: 10,055 SF CVS store built in 2003 on 1.93 ac lot at a signalized location near Hamilton Place and I-75. 20 yr NNN- corp lease with 11+ yrs left. NOI $216K/yr. $3.111M. 7% cap.  
  2. Advance Auto Parts in Houston, TX: 7000 SF auto parts center built in 2008 across from Kroger anchored center in densely populated area. 15 yrs NNN lease with 11 yrs left. NOI $125K/yr. $1.518M. 8.25% cap.  
  3. Shopping Center in Lake City, GA: 91,794 SF shopping center on 12.66 acres of land near Clayton State University in fast growing Atlanta metro. Anchored by recently renovated Kroger Supermarket. Tenants include: Dollar Tree, CATO Fashions, H&R Block and The UPS Store.  97% NNN leased. NOI $894K/yr. $12.7M. 7.04% cap.  
  4. Retail Center in Hanover, MA: 29,476 SF retail center on 8 acres lot in high (AHI $132K/yr) Boston suburbs. Near Hwy-13 exit and Hanover Mall. 100% NNN leased to Savers, a discounted oriented retailer and Peter Harris Clothes. NOI $422K/yr. $5.2M. 8.12% cap. 
  5. Retail/Office Center in Margate, FL: 24,500 mix-used center near Northwest Medical Center in  Fort Lauderdale area. 100% leased. NOI $246K/yr. $3M. 8.20% cap.  
  6. Tire Works in Las Vegas, NV: 6832 SF auto repair center in 2005 on .76 ac lot  in fast growing (1046% since 2000) and high income (AHI $88K/yr) neighborhood. 15 yrs NNN lease with 7 yrs left. NOI $157K/yr with 12% rent increases in years 11 & 15. $2.199M. 7.18% cap.  
  7. MOB in San Diego, CA: 5488 SF well-maintained 2-story medical office building constructed in 19981 in densely populated city. 86% leased to 3 tenants with just 700 SF unit vacant. NOI $84K/yr. $1.16M. 7.30% cap. 
  8. Strip Center in West Valley City, UT: 11,300 SF strip center built in 2002 shadow-anchored by The Home Depot and Smiths Grocery. 100% NNN leased to excellent tenant mix: Panda Express, Dental office, T-Mobile, Game Stop, Smoke Shop and Fantastic Sams. NOI $212K/yr. $2.837M. 7.5% cap.  
  9. Retail/Office Center in Clifton, NJ: 6000 SF 2-story mix-used building at a hard corner location next to State Pkwy-154 in high income New York suburbs. 100% leased. NOI $86K/yr. $1.075M. 8% cap. 
  10. Rite Aid in Ocean Springs, MS: 10,752 SF Rite Aid Pharmacy built in 1998 across from Ocean Springs Hospital.  In affluent (AHI $109K/yr in 1-mile) coastal town. 100% NNN- corp lease with 7 yrs left. NOI $211K/yr. $2.5M. 8.45% cap.
© Transmercial 2012
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