06-22: MOB, Wendy's, Shopping Center

1. Retail Center in Katy, TX: 20,000 SF 10-units retail center on 2+ ac lot off ramp Pkwy-99 which connects to I-10. In fast growing (50.22% since 2000) and prosperous (AHI $162K/yr. within 1 mile)Houston suburbs. NOI $353K/yr. $4.285M. 8.25% cap.
2. Retail Center in Hixson, TN: 12,640 SF retail center built in 2010 on 1.40 ac lot adjacent to Target, Wal-Mart and Northgate Mall in fast growing Chattanooga suburbs. 100% NNN leased to Aspen Dental, Gigi’s Cupcakes, Inkredible Cartridge, Batteries Plus, Sun Tan City and Achieve Medical. NOI $291K/yr. $3.515M. 8.29% cap.
3. Strip Center in Midland, TX: 16,031 SF strip center built in 2005 on 1.38 ac lot next to Hwy-250. Growing & high income oil and gas town with AHI of $92Kyr in 1 mile. 100% NNN leased. NOI $281K/yr. $3.2M. 8.79% cap.
4. Shopping Center in Midland, TX: 25,537 SF shopping center built in 2008 on 3.55 acres of land across from Lowe’s and off ramp Hwy-250.  Growing & high income oil and gas town with AHI of $92Kyr in 1 mile. 100% NNN leased. NOI $458K/yr. $5.6M. 8.18% cap.
5. MOB in Lincoln, NE: 10,800 SF Class-A medical office building with overlooking beautiful fountain and pond. In fast growing and high income (AHI $99K/yr) area. 100% leased to East Lincoln Family Health and Nebraska Mental Health Centers.  NOI $127K/yr. $1.595M. 8% cap.
6. Wendy’s in Kennewick, WA: 2419 SF Wendy’s restaurant on .66 ac lot in growing and middle-class neighborhood. Recent renovation to kitchen and dining areas. New 15 yr NNN lease to strong franchisee. NOI $65K/yr with 6% rent bumps every 5 yrs. Only $895K. 7.30% cap.
7. Strip Center in Lawrenceville, GA: 9600 SF attractive multi-tenant strip center on a busy highway in fast growing and upper middle class Atlanta suburbs.  90% NNN leased to Five Guys Burgers, Taco Depot and Polished. NOI $184K/yr. $2.3M. 8% cap.
8. Shopping Center in Decatur, GA: 31,000 SF well-maintained shopping center next to I-285 and close to Dekalb Technical College in Atlanta metro. New roof and AC units. 85% leased. NOI $230K/yr. $2.3M. 10% cap. Upside potential when fully leased.

© Transmercial 2012