05-17: KFC, Golden Corral, 24 Hour Fitness, CVS Pharmacy, Jiffy Lube

1. KFC in Roswell, GA: 3972 SF free-standing restaurant on .96 ac lot across from Roswell Town Center in high income Atlanta suburbs. New 20 yrs absolute NNN lease to strong franchisee with 118 units. NOI $58K/yr with 10% rent increases every 5 yrs. $860K. 6.75% cap.  
2. Office Building in Naples, FL: 14,454 SF two-story Class-B office building built in 1991 on .46 ac lot in affluent  (AHI $120K/yr in 1 mile) area just 1 short block from Naples Bay. NOI $152K/yr. $1.906M. 8% cap. 
3. Golden Corral in Sumter, SC: 10,539 SF buffet restaurant on 2+ ac outparcel to Wal-Mart and next to Hwy 378/76. 100% NNN leased with 9 yrs left. NOI $232K/yr with 1% annual rent increases. $3.002M. 7.75% cap.  
4. TGI Friday’s in Brooklyn, OH: 7747 SF family sit-down restaurant built in 1997 on 2+ ac lot at densely retail location and next to I-480 in Cleveland suburbs. 100% absolute NNN lease with 11 yrs left. NOI $210K/yr with 5% rent increase every 5 yrs. $2.625M. 8% cap. 
5. 24 Hour Fitness in La Mirada, CA: 40,738 SF fitness center built in 2002 on 4.26 ac lot at main retail corridor in Los Angeles suburbs. Excellent demographics: high income (AHI $105K/yr) area with nearly 500K residents within 5 miles. 100% NNN- lease. NOI $907K/yr. $11.7M. 7.76% cap. Additional income from T Mobile cell tower.  
6. CVS Pharmacy in Indianapolis, IN: 12,827 SF drive-thru CVS Pharmacy remodeled in 2004 on 1.58 ac lot at a hard corner and cross from Kroger anchored center. Demographics: growing and prosperous (AHI $151K/yr in 1 mile) neighborhood. Tenant has been at this location since 2004. 100% NNN- lease with 9+ yrs left in their 1^st lease extension. NOI $189K/yr.  with 5% rent bumps in each 5-yr option. $2.525M. 7.5% cap.  
7. Medical & Office Building in Garden Grove, CA: 16,000 SF two-story well-maintained medical & office building on .91 ac lot in densely populated middle-class Southern CA area with 750K residents in 5 miles. NOI $73K/yr. $1.395M. 5.27% cap. Only $87/SF! Upside potential. 
8. Inline Center in Maynard, MA: 29,609 SF well-maintained retail center in affluent (AHI $128K/yr in 3 miles) Boston metro. 93% leased with excellent tenant mix. NOI $212K/yr. $2.59M.  8.2% cap.  
9. Jiffy Lube in Colorado Springs, CO: 3020 SF recently renovated auto care center on .41 ac hard corner location in upper middle-class neighborhood. 15 yr absolute NNN lease. NOI $99K/yr. $1.35M. 7.35% cap.  
10. Shopping Center in Troy, MI: 22,074 SF upscale shopping center built in 2005 at a signalized corner location in affluent Detroit suburbs (AHI $94K/yr). 100% leased. $3.95M. Cap/NOI not provided.

© Transmercial 2012