04-24: Goodyear, Walgreens, Outback Steakhouse, Big O, Learning Experience, Dollar General

1. Walgreens in Neptune Beach, FL: 15,158 drug store built in 1997 on 1.76 ac corner lot on highway A1A in an upper middle-class coastal town (AHI $83K/yr) in Jacksonville suburbs. 20 yrs NNN- lease with 5 yrs left. NOI $345K/yr. $4.1M. 8.41% cap. 
2. Outback Steakhouse in Roseville, CA: 6472 SF family restaurant on 1 ac corner lot across from Fry’s Electronics in upper middle-class Sacramento suburbs.  Easy access to I-80.  New 15 yrs absolute NNN lease to the largest Outback franchisee with 67 units in CA.  NOI $130K/yr with 10% rent bumps every 5 yrs.  Store with very strong $3.75M in sales (this means highly profitable location and landlord will receive the rent checks).  $2.174M. 6% cap. 
3. Goodyear Auto Service in Plano, TX: 6864 SF auto service center built in 2003 on .83 ac in affluent Dallas suburbs.  15 yrs NNN- corp lease with 6 yrs left.  NOI $126K/yr. $1.575M. 8% cap. 
4. Dollar General in Mesquite, TX: 9014 SF Dollar General store built in 2006 in Dallas metro.  10 yrs NNN- corp lease till 2016.  NOI $82K/yr with generous 12% rent bump in each 5 yrs option.  $943K. 8.7% cap.  
5. Retail Center in Altamonte Springs, FL: 55,388 SF retail center consisting of three buildings on 2.94 ac lot anchored by Regions Bank (ground lease). Near Florida Hospital Altamonte (the county's only comprehensive cancer care).  100% leased. NOI $542K/yr. $6.7M. 8.10% cap.  
6. Big O Tires in Phoenix, AZ: 6000 SF newly constructed Big O Tires on .69 ac lot close to The Shops at Norterra, Lowe’s and Wal-Mart anchored center and I-17. 20 yrs absolute NNN lease to an experience operator. NOI $146K/yr with 10% rent bumps every 5 yrs. $2.02M. 7.25% cap. 
7. The Learning Experience in Blackwood, NJ: 10,000 SF day care facility built in 2008 on near 3 ac lot in well-off (AHI $89K/yr) Philadelphia suburbs. 100% NNN- corp lease with 11+ yrs let to a national childcare provider. NOI $200K/yr with 8% rent increases every 5 yrs with next increase in 10/2013. $2.415M. 8.28% cap. 
8. Shopping Center in Oxnard, CA: 64,421 SF shopping center remodeled in 2004 on 5.47 ac lot At a hard corner location, near Esplanade Shopping Center and Hwy-101.  Anchored by Big 5 Sporting Goods, and U.S. Bank.. 72% leased. NOI $1.078M. $14.385M. 7.50% cap. Upside potential when fully leased. 
9. Office Building in Saint Cloud, MN: 7200 SF Class-B two-story office building constructed in 2011 on 1+ ac lot. In growing & middle-class area. 100% lease with solid and long term tenants. NOI $89K/yr. $1.1M. 9% cap.

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