09-10: Greulich's Automotive, Church Chicken, Walgreen's, MOB's

1. Greulich’s Automotive in Peoria, AZ: 4,216 SF auto repair center built in 2003 on .63 ac lot off/on ramp Fwy-101. 100% absolute NNN lease with 7 yrs left to a regional tenant with 15 locations in AZ. NOI $104K/yr with a 12% rent increase in 2014. $1.351M. 7.75% cap.
2. Church’s Chicken in Stockton, CA: 1100 SF drive-thru restaurant renovated in 2005 on .41 ac lot at a signalized corner location. 100% absolute NNN corp lease with 12 yrs left. NOI $73K/yr with 1.5% annual rent increases. $1.05M.  6.97% cap.
3. Strip Center in San Jose, CA: 6706 SF well maintained strip center on .53 ac corner location near Fwy-85. NNN leased to five tenants. NOI $155K/yr.  Price reduced to $2.299M. 6.77% cap.
4. Shopping Center in San Jose, CA: 20,690 SF shopping center adjacent to new AutoZone in the heart of Silicon Valley. Near Regional Medical Center of San Jose, I-680 and Fwy-101. 100% leased with excellent tenant mix. NOI $326K/yr. $4.209M. 7.75% cap.
5. MOB in South Pasadena, CA: 21,836 SF Class-A four-story medical office building renovated in 2000/2008 on .69 ac lot in densely populated & affluent (AHI $142K/yr in 1 mile) Los Angeles metro. 100% leased to City of Hope Medical Foundation, a California non-profit corporation. NOI $528K/yr. $8.295M. 6.37% cap.
6. MOB in Fort Wayne, IN: 19,826 SF Class-A build-to-suit medical office building constructed in 1992 in fast growing and high income area. Across from 412-beds, Lutheran Hospital of Indiana and close to I-69. 100% NNN lease with 4 yrs left to region’s largest OBGYN and Women’s Health practice. NOI $414K/yr with 3% annual rent increases. $4.145M. 10% cap.
7. Walgreen’s in Dearborn Heights, MI: 13,905 SF drive-thru drug store built in 1998 pm 1.45 ac lot at a signalized corner location. 20 yrs NNN- corp lease with 5 yrs left. NOI $385K/yr. $4.535M. 8.50% cap.

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