Tuesday, September 11, 2012

08-28: Walgreens, Rite Aid, O'Reilly, Taco Bell, Family Dollar, Davita, Retail center


  1. Walgreens in New Smyrna Beach, FL: 13,394 SF drug store built in 1993 on .75 ac lot in a coastal Daytona Beach metro.  25 yrs NNN- till 2018.  NOI $192K/yr. $2.55M. 7.53% cap.  Store with $6M in sales. 
  2. Rite Aid in Bowling Green, KY: 14,565 SF drug store built in 2007 on 1.8 ac corner lot.  20 yrs absolute NNN lease with 15 yrs left.  NOI $354K/yr with 10% rent bump every 10 yrs. $4.165M. 8.5% cap. 
  3. O’Reilly in Surprise, AZ: 7000 SF upscale retail center built in 2005 on .97 ac outparcel to Albertsons anchored center in Phoenix metro.  20 yrs NNN- corp lease with 13 yrs left.  NOI $133K/yr with rare 10% rent bumps every 5 yrs.  $2.08M. 6.4% cap. 
  4. Retail Plaza in Louisville, CO: 6300 SF retail center built in 2000 on 1.93 ac lot in affluent Denver suburbs (AHI $128K/yr).  Surrounded by Home Depot, Costco, Super Target, Kohl’s and more. 100% NNN leased to 3 tenants.  NOI $115K/yr. $1.525M. 7.59% cap. 
  5. Taco Bell in Kissimmee, FL: 3500 SF restaurant on 1.07 ac corner at the intersection of 2 major arteries in fast growing (45% since 2000) Orlando metro.  Tenant has been here since 1988 and just renew 5 yrs option.  NOI 161K/yr. with 10% rent bump in 2014.  $2.015M. 8% cap. 
  6. MOB in Blue Springs, MO: 21,933 SF 2-story medical office building built in 1993 on 2.21 ac lot on the campus of St Mary’s medical Center in Kansas city metro.  100% leased.  NOI $338K/yr. $3.597M. 9.4% cap. 
  7. Family Dollar in Reynoldsburg, OH:  9150 SF Family Dollar store built in 2009 on 1 ac lot in Columbus suburbs.  10 yrs NNN- lease till 2018.  NOI $102K/yr with 10% rent bumps in every 5 yrs options.  $1.242M. 8.25% cap. 
  8. Retail/Office Center in Post Falls, ID: 14,424 SF 3-story class-A center built in 1990 on 2.45 ac lot across form Highland Golf course.  100% leased to 3 tenants: The Highlands Day Spa, the award winning restaurant Fleur De Sel and a massage therapy training school.  NOI $126K/yr. $1.499M. 8.4% cap. 
  9. Davita Dialysis center in Los Banos, CA: 10,154 SF new Class-A medical office condo in San Joaquin valley. New 10 yrs NNN corp lease. NOI $59K/yr. with 1.5%-2% annual rent bumps.  Price reduced $100K to $895K. 6.67% cap.

© Transmercial 2012
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