06-18: Taco Bell, Famous Dave's, Mix-Used. MOB's, CareNow

1. Taco Bell in Chanhassen, MN: 2052 SF Taco Bell built in 1997 on .85 ac lot next to Target at a major retail corridor. In fast growing and affluent (AHI $143K/yr. within 1 mile) Minneapolis suburbs. 20 yrs NNN lease with 13 yrs left. NOI $105K/yr. with 7.50% rent bumps every 5 yrs. $1.565M. 6.75% cap.
2. Office Building in Northbrook, IL: 37,938 SF Class-B five-story office building on 1+ ac lot in very affluent (AHI $194K/yr. within 1 mile radius) city in Chicago suburbs. Easy access to I-94.  90% leased to multiple tenants. Many of the tenants have occupied this building for over 15 yrs. NOI $283K/yr. $3.3M. 8.60% cap.
3. Office Building in Hilliard, OH: 11,891 SF Class-A single tenant office building at high traffic location in fast growing and upper middle-class Columbus suburbs. 100% NNN lease with 8 yrs left. NOI $237K/yr. with a rent increase in 2017. $2.2M. 10.78% cap.
4. Retail Center in Grand Prairie, TX: 15,700 SF well maintained retail center adjacent to Cost Plus Supermarket in Dallas/Fort Worth metro. 100% NNN leased to 8 tenants. NOI $246K/yr. $2.7M. 9.30% cap.
5. MOB in Fort Worth, TX: 5965 SF single tenant urgent medical care center on .89 ac lot. 100% NNN- lease from CareNow with 23 urgent care centers in Dallas/Fort Worth metro.  NOI $229K/yr. $2.7M. 8.50% cap.
6. MOB in Modesto, CA: 9851 SF modern medical office building completed in 2007 on .90 ac lot close to new 250-bed Kaiser Hospital and Hwy-99. AHI of $86K/yr in 1 mile.  100% NNN leased till 2017 to Valley Heart Associates, a well-established group of 10 cardiologists affiliated with Telnet Heathcare . NOI $198K/yr. with annual CPI-based rent bumps. $2.94M. 6.75% cap.
7. Famous Dave’s in Greece, NY: 7600 SF free standing restaurant built in 1994 on 1.80 ac lot close to The Mall at Greece Ridge and Hwy-390 in Rochester suburbs. 20 yrs absolute NNN lease with 15 yrs left. NOI $237K/yr. with annual rent increases. $2.438M. 9.74% cap.
8. Office/Retail Center in Tacoma, WA: 26,317 SF attractive 2-story mixed-use center built in 2008 on 1.25 ac lot with good access to Hwy-16. The ground floor is leased to strong retail tenants: 7-Eleven, Fidelity National Title Company, Alaska USA Federal Credit Union, and others. The second floor is leased to a mix of medical tenants and has a 4,287 square
   foot vacancy.  84% leased. NOI $557K/yr. $6.3M. 8.86% Proforma cap.
9. MOB in Moreno Valley, CA: 14,167 SF Class-A state of the art single-tenant medical office building constructed in 2007 on 1.50 ac lot at main corridor close to I-215. 100% leased till 2018 to Community Health System, Inc. a non-profit HRSA grantee with federally qualified health center status. NOI $341K/yr. with strong 3% annual rent bumps.  $4.55M. 7.50% cap.
10. MOB in Southaven, MS: 11,348 SF Class-B single tenant medical building close to Baptist Memorial Hospital –Desoto and I-55. 100% NNN lease with 6 yrs left to Methodist Healthcare. NOI $303K/yr. $3.565M. 8.50% cap. 

© Transmercial 2012