10-03: AutoZone, Family Dollar, Arby's, Gander Mountain, MOB

1. Shopping Center in Casselberry, FL: 69,022 SF shopping center renovated in 2009 on 7+ acres outparcel to Sam’s Club in Orlando metro.  70% NNN leased. NOI $420K (pro forma $530K). $4.9M. 8.58% cap. Upside potential when fully occupied.
2. AutoZone (S&P BBB) in Minneapolis, MN: 5400 SF auto parts store built in 2003 on .43 ac lot next to I-35W and near Children’s Hospital and Abbott Northwestern Hospital. 100% absolute NNN lease with 7+ yrs left. NOI $146K/yr. $$1.8M. 8.16% cap.
3. Shopping Center in San Diego, CA: 28,730 SF well maintained shopping center on nearly 2 ac lot at a busy signalized intersection  close to Hwy-163/53 and I-805. 100% NNN leased to 18 tenants. NOI $542K/yr. $8.2M. 6.62% cap. Buyer to assume $4.65M loan at low 5.38% rate.
4. Family Dollar in Dallas, TX: 8320 SF under construction single tenant retail building next to Walgreen’s in growing and high income (AHI $91K/yr in 1 mile) area. 10 yrs NNN lease. NOI $109K/yr. $1.466M. 7.50% cap.
5. Arby’s in Peoria, AZ: 3100 SF Arby’s restaurant built in 2001 on .72 ac outparcel to Kmart anchored center and adjacent to Home Depot. Near Hwy-101 in Phoenix suburbs. 100% NNN corp lease with 9 yrs left. NOI $135K/yr with 1% annual rent increases. $1.544M. 8.75% cap.
6. Retail Center in Denton, TX: 19,416 SF attractive retail center built in 2008 on 1.84 ac lot in growing (115.24% pop growth since 2000) city just North of Fort Worth/Dallas. Within a master planned development: an upscale community shopping and dining center. Close to Denton Regional Medical Center, North Texas Hospital and I-35E. 100% NNN leased.  NOI $378K/yr. $4.73M. 8% cap.
7. MOB in Las Vegas, NV: 8865 SF Class B medical office building constructed in 1992 on 1 ac lot. Close to 730-beds Sunrise Hospital and Medical Center and Las Vegas Strip. 100% NNN lease with 4 yrs left to Desert Valley Therapy. NOI $128K/yr. $1.55M. 8.30% cap.
8. Retail Center in San Jose, CA: 16,300 SF well maintained retail center on 1.50 ac lot close to Hwy-101& I-280. 100% leased to long-term tenants. NOI $447K/yr. $6.295M. 7.10% cap.
9. Gander Mountain in Winston Salem, NC: 42,750 SF recently renovated single tenant retail center on 3.80 ac outparcel to Sam’s Club at a hard corner location. Across from Costco and Lowe’s and near Hanes Mall and I-40. 17 yrs absolute NNN lease to Gander Mountain, largest retailer of hunting & camping gears with 119 locations. NOI $577K/yr with rent bumps every 5 yrs. $7.214M. 8% cap.

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