06-13: Valvoline, Walgreens, Big 10 Tires, Starbucks, MOB, REO Center

1. Valvoline in San Clemente, CA: 2322 SF auto service  center on .33 ac lot in densely populated coastal resort and next to I-5. Excellent demographic: AHI $125K/yr. within 3 mile). 20 yrs absolute NNN lease with 5+ yrs left. NOI $124K/yr. with rare 15% rent increases every 5-yrs with next rent bump in Nov 2013. $1.843M. 7.75% cap.
2. Strip Center in Milwaukee, WI: 5828 SF under construction strip center on an outparcel to Target and Grocery anchored center. 100% NNN pre-leased to Jimmy Johns, Toppers, T-Mobile and Wisconsin Auto Title Loans, Inc. NOI $188K/yr. $2.351M. 8% cap.
3. Walgreen’s (S&P A+) in Fort Wayne, IN: 15,120 SF drugstore constructed in 2001 on 1.5 ac corner lot. Close to Glenbrook Square Mall and Wal-Mart Supercenter. 20 yrs NNN corp lease with 9 yrs left. NOI $468/yr. $6.038M. 7.75% cap.
4. REO’ed Center in Newnan, GA: 13,192 SF retail center on 1.89 ac lot in fast growing and well-off Atlanta suburbs. All units face Hwy-34. 77% leased. NOI $122K/yr. $1.26M. 9.73% cap.
5. Valvoline in Rockford, IL: 3276 SF single tenant auto center on .49 ac lot in Chicago suburbs. Across from St Anthony Medical Center and along main (35,000 CPD) retail corridor. 100% NNN- lease with 9+ yrs left to strong franchisee with 100+ units. NOI $65K/yr with 3% annual rent increases. $818K.  8% cap.
6. Big 10 Tires in Tuscaloosa, AL: 5721 SF single tenant retail building constructed in 2008 on 1.70 ac lot adjacent to Kmart, close to McFarland Mall and I-59/20. 20 yrs NNN- lease with 16 yrs left. NOI $ 114K/yr. with 10% rent increases every 5 yrs. $1.48M. 7.75% cap.
7. Starbucks Coffee in Haltom City, TX: 1750 SF drive-thru Starbucks Coffee on .51 ac lot along Hwy-377 North of Fort Worth. 100% NNN lease with 7 yrs left. NOI $94K/yr. $1.275M. 7.42% cap.
8. Strip Center in Pomona, CA: 7224 SF well maintained strip center on .52 ac lot at a busy corner location in densely populated LA suburbs. Tenants include: Dental Office, Mexican Restaurant, Beauty Salon, Water Store and Coin Laundry. 100% NNN leased. NOI $127K/yr. $1.89M. 6.75% cap.
9. MOB in Philadelphia, PA: 30,000 SF Class-B medical office  building on .85 ac lot next to Northeast Shopping Center and Hwy-1. 80% leased to multiple tenants. NOI $236K/yr. $2.95M. 8% cap.
10. Retail Center in Friendswood, TX: 14,818 SF retail center built in 2001 on 4.13 acres of land shadow anchored by Kroger. In affluent (AHI $107K/yr. within 1 mile) Houston suburbs. 100% leased. NOI $326K/yr. $4.357M. 7.50% cap. 

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