07-06: Tires Plus, Rite Aid, MOB, Shopping Centers

1. Tires Plus in Toledo, OH: 6832 SF car care center built in 2002 on 1.22 ac lot at busy retail corridor and next to Target and Kroger anchored center. Close to 2,000,000 SF GM Plant.  100% NNN lease with 10+ yrs left. NOI $171K/yr with 8% rent increases every 4 yrs. $2.286M. 7.50% cap.
2. Retail Center in Blaine, MN: 10,034 SF attractive retail center built in 2005 on the outer ring of  Northtown Mall and close to Hwy 610/10 in St Paul suburbs. Excellent tenant mix: Potbelly Sandwich Works, Verizon Wireless, Chipotle, Fedex/Kinkos and Game Stop. 100% leased. NOI $315K/yr. $3.7M. 8.54% cap.
3. Shopping Center in Johnson City, TN: 23,036 SF recently renovated shopping center on 4.30 ac lot in high income area close to I-26. Across from Kohl’s and Lowes. NOI $267K/yr. $3.146M. 8.50% cap.
4. Rite Aid Pharmacy in San Jacinto, CA: 17,272 SF Rite Aid pharmacy built in 2008 on 1.81 ac lot next to Expy-79. In growing Riverside County. 100% NNN corp lease with 16 yrs left. NOI $410K/yr with 7.5% rent bump in 2018. $5.125M. 8% cap.
5. MOB in Jacksonville, FL: 5520 SF beautiful Class-A medical building constructed in 2008 on .21 ac lot in high income area. 100% NNN lease with 8 yrs left to University of Florida Jacksonville Healthcare. NOI $81K/yr with 3%- 5% annual rent increases. $1.1M. 7.25% cap.
6. Retail Building in Champlin, MN: 8158 SF 5-units retail building constructed in 2002 on 1.44 ac lot in growing and affluent (AHI $94K/yr) Minneapolis metro. 100% NNN leased to national/local tenants. NOI $132K/yr. $1.65M. 8% cap.   

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