05-16: Shoney's, Jack in the Box, Family Dollar, MOB, Jiffy Lube, Office Complex

·         AHI: Avg. Household Income.  National average is about $50+K/yr.

·         NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.

·         NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

·         NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1.  Shoney’s in Franklin, TN: 5830 SF Shoney’s restaurant built in 1992 on 1.15 ac lot at main retail corridor in fast growing and well-off (AHI $88K/yr) Nashville suburbs. Near Williamson Medical Center and I-65. 20 yrs absolute NNN lease with 14 yrs left. NOI $148K/yr with 6% rent increases every 4 yrs. $1.85M. 8% cap.  
2. Jack in the Box in Albuquerque, NM: 2435 SF newly constructed fast food restaurant on .63 ac outparcel to Wal-Mart at a hard corner location. 100% absolute NNN lease with 17½ yrs left to a franchisee with 50+ units. NOI $135K/yr with 12% rent increases every 5 yrs. $1.97M. 6.85% cap. 
3. Retail Center in Puyallup, WA: 12,500 SF retail center on 1.26 ac lot shadow anchored by Fred Meyer anchored center in fast growing & affluent (AHI $105K/yr) Seattle suburbs. NNN leased. NOI $365K/yr. $4.3M. 8.50% cap. Buyer to assume $3.3M loan at low 5.53% interest rate.  
4. Family Dollar in Hudson, FL: 8000 SF single-tenant retail building constructed in 2011 on 1.28 ac lot on Hwy-52 in Tampa suburbs. 100% NNN lease to credit tenant. NOI $126K/yr. $1.535M. 8.25% cap.  
5. MOB in Charlotte, NC: 5546 SF well maintained medical office building close to Carolinas Medical Ctr Pineville, Carolina Place Mall and I-485. 100% leased to Enhanced Images Medical. NOI $82K/yr. $1.027M. 8% cap.  
6. Shopping Center in Aurora, CO: 53,400 SF recently improved 24-unit shopping center on nearly 4 acres corner lot in Denver metro. Shadow-anchored by Walgreens. 74% leased to national, regional and strong local tenants with low avg rent of $12.33/SF. Current NOI $379K/yr. $5.23M. 7.25% cap. Upside potential! 
7. Jiffy Lube in Northglenn, CO: 4073 SF Jiffy Lube auto center built in 2004 on .48 ac lot close to Super Target anchored center and near I-25 exit. In fast growing and middle-class Denver metro. 100% NNN lease with 12½ yrs left. NOI $92K/yr with a 10% rent increase in 2015. $1.232M. 7.5% cap.     
8. Office Complex in Riverside, CA: 30,197 SF office complex consisting of three buildings on 1.58 ac lot close to Kaiser Permanente and Galleria at Tyler in densely populated area. 100% leased. NOI $394K/yr. $4.75M. 8.30% cap.  
9. Retail Building in Columbia, SC: 3822 SF well-maintained retail building on .76 ac outparcel to Regional Mall. Tenant has been at this location since 1986. 100% NN lease to Bank of America with 4 yrs left in the 1^st lease extension. NOI $112K/yr. $1.4M. 8.01% cap.

© Transmercial 2012