05-18: Burger King, Wendy's, REO's, Memphis BBQ Restaurant

1. Burger King in Bartlesville, OK: 3586 SF Burger King built in 1994 on 1.39 ac lot at a high traffic location (25,829 CPD) near Jane Philips Medical Center and Eastland Shopping Center. 100% absolute NNN  lease with 18½ yrs left to an operator with 26 units. NOI $81K/yr with 1.75% annual rent increases. $1.261M. 6.50% cap. 
2. Retail Center in Lake Mary, FL: 47,434 SF Class-A retail center built in 2003 on 3.60 ac lot close to Seminole Towne Center and next to I-4. At one of the most affluent (AHI $128K/yr) neighborhood in Orlando suburbs. 80% leased. 8.50% cap. Price/NOI not disclosed.  
3. Strip Center in Vacaville, CA: 7990 SF well maintained strip center on 1.45 ac lot next to 99¢ Store and close to I-80. At great quiet neighborhood in growing well-off (AHI $ 91K/yr in 3 miles) town just southwest of Sacramento. 100% leased. NOI $130K/yr. $1.5M. 8.70% cap.  
4. Wendy’s in Portage, MI: 3,378 SF Wendy’s restaurant on 1.49 ac lot in a stable town. Demographics: upper middle-class Kalamazoo suburbs. New 15 yrs absolute NNN lease. NOI $114K/yr with 1.5% annual rent bumps starting in yr 6 through 15. $1.572M. 7.25% cap.  
5. REO’ed Retail Center in North Riverside, IL: 9922 SF bank owned retail center built in 2004 on .68 ac lot anchored by Dunking Donuts and Baskin Robbins. Near Loyola University Medical Center in Chicago suburbs. NNN leases. Current NOI $67K/yr. $900K. 7.5% cap. Upside potential.  
6. REO’ed Retail Center in Tinley Park, IL: 29,493 SF attractive bank owned retail center on 3+ ac lot across from Metro Station. At a signalized corner in high income Chicago metro. 74% NNN leased. NOI $193K/yr. $2.34M. 8.25% cap. 
7. Strip Center in Kennesaw, GA: 14,160 SF retail center on 1.86 ac lot in fast growing and well-off Atlanta suburbs. Tenants include: restaurant, cleaners, pizza shop, barber, nail salon, hair salon, gift store, shoe store and alterations shop. 92% leased with only one vacant unit. $2M.  
8. Retail Center in Suwanee, GA: 12,125 SF retail center on 1.85 ac lot across from The Home Depot and near I-85. In growing and affluent (AHI $117K/yr in 1 mile) area northeast of Atlanta. 90% leased. $2.2M. NOI/Cap not provided.  
9. Retail Building in South Gate, CA: 9450 SF well-maintained retail center on 1+ ac lot at a hard corner location in a growing city south of Los Angeles. 80% leased. NOI $246K/yr. $2.899M. 7% cap. 
10. Restaurant in Las Vegas, NV: 3900 SF free-standing restaurant on .52 ac lot at busy corridor and next to Nellis Air Force Base. Tenant has been at this lotion since 1995. New 20 yrs absolute NNN lease to Memphis BBQ. NOI $109K/yr. $1.409M. 7.75% cap.

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