08-14: Western Dental, IHOP, REO, Jiffy Lube, O'Reilly

1. Western Dental in Tempe, AZ: 5395 SF recently remodeled single tenant dental office building on .96 ac lot at a busy retail corridor. Next to Walmart and across from Costco/Costco Home. 10 yrs absolute NNN corp lease with 9+ yrs left. NOI $137K/yr with a 12% rent increase in 2017. $1.964M. 7% cap.
2. Shopping Center in Crystal River, FL: 46,831 SF well maintained shopping center on 5.41 acres of land in a coastal town North of Tampa.  Shadow-anchored by Sweetbay Supermarket at a signalized intersection along Hwy-98. 82% leased. NOI $324K/yr. $3.6M. 8.90% cap. Upside potential.
3. MOB in San Antonio, TX: 29,080 SF Class-B medical office buildings consisting of three buildings constructed in 2002 on nearly 3 ac lot close to I-410. Tenants include: Fresenius, DaVita and VA Clinic. 100% NNN leased with Master Lease. NOI $572K/yr. $7.5M. 7.67% cap.
4. IHOP in Olathe, KS: 4972 SF IHOP Restaurant built in 2007 on 1.41 ac lot in growing and high income Kansas City suburbs. Near Olathe Medical Center, Great Mall of the Great Plains and next to I-35. 15 yrs absolute NNN lease. NOI $195K/yr with 10% rent increases every 5 yrs. $2.6M. 7.5% cap.
5. O’Reilly Auto Parts in Anthem, AZ: 7020 SF auto parts store built in 2005 on 1.26 ac lot in growing upper middle-class North of Phoenix suburbs. Adjacent to Wal-Mart Supercenter, across from the Outlets at Anthem and near I-17. 100% NNN corp lease with 8 yrs left. NOI $110K/yr with 10% rent increase every 5 yrs. $1.618M. 6.80% cap.
6. MOB in Waterloo, IA: 11,888 SF newly constructed medical office building on 2.48 ac lot in high income area. Close to Covenant Medical Center and Hwy-20/27. 100% leased to an Outpatient Clinic providing physician evaluations, basic X-rays, routine laboratory testing, and EKGs, primary care, preventative health, and wellness services. NOI $255K/yr. $3.4M. 7.50% cap.
7. REO’ed Retail Center in Shorewood, IL: 30,000 SF bank-owned retail center on 3.87 ac lot in fast growing(163+% pop growth) and affluent (AHI $90K/yr within 1 mile) Chicago suburbs. Across from Target center. 56% leased. NOI $344K/yr. $2.7M. 12.77% cap. Upside potential.
8. Strip Center in Geneva, IL: 10,620 SF strip center on 1.13 ac lot at a signalized intersection in prosperous Chicago metro with an AHI of $156K/yr in 1 mile. Close to 159-bed Delnor Community Hospital. 85% leased with only 1 vacant unit. NOI $177K/yr. $2.5M. 8.85% cap.
9. Jiffy Lube in Reno, NV: 2018 SF high quality constructed auto center built in 2006 on .75 ac lot at a visible corner location next to Hwy-95. 20 yrs NNN lease with 12 yrs left. NOI $112K/yr with 2% annual rent increases. $1.549M. 7.25% cap.
10. Retail Center in Fontana, CA: 7194 SF retail center built in 2008 on .64 ac lot with huge monument sign in San Bernardino County. Across from Walmart. NOI $185K/yr. $2.1M. 8.81% cap.

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