10-18: Burger King, CVS Pharmacy, O'Reilly Auto Parts, MOB, Neighborhood Centers

1. Retail Center in Atlanta, GA: 8802 SF single-tenant retail center in affluent area with an AHI of $111K/yr in 1 mile. Across from 1,000,000 SF Northlake Mall anchored by Macy’s, Kohl’s, Sears and JC Penny’s. 100% NNN leased to AT&T. NOI $182K/yr. with 3% annual rent bumps.  $2.141M. 8.50% cap.
2. Neighborhood Center in Round Lake Beach, IL: 61,956 SF stable shopping center on 7.72 ac parcel at a hard corner in Chicago suburbs.  Anchored by 28,963 SF Big Lots and Dollar General. Strong demographics: 138,700 residents within 5 miles with an AHI of $86K/yr. 100% leased. NOI $460K/yr. $4.6M. 10% cap.
3. Retail Center in Johns Creek, GA: 30,975 SF retail center consisting of three buildings on 2 ac lot in one of the highest income areas in Atlanta (AHI $166K/yr within 1 mile).  Shadow anchored by Rite Aid.  90% leased. NOI $547K/yr. $6.845M. 8% cap.
4. Burger King in Getzville, NY: 3220 SF drive-thru fast food restaurant on 1.20 ac lot at a hard corner location and next to Rite Aid in high income (AHI $101K/yr in 1 mile) Amherst metro area. Close to Suny-University at Buffalo-North and I-990. Tenant has been at this location for 35+ yrs. 100% absolute NNN corp lease with 7 yrs left. NOI $58K/yr with a 4% rent increase in 2 yrs. $1.055M. 5.50% cap. Upside potential for this high performance store as rent is low and tenant has no options left.
5. Retail Center in Houston, TX: 26,260 SF retail center built in 2008 on 2.78 ac lot at major retail corridor in growing and high income area. Close to North cypress Medical Center, Cypress Fairbanks Medical Center and Hwy-290/6. 95% NNN leased. NOI $496K/yr. $6.327M. 7.85% cap.
6. CVS in Tuscaloosa, AL: 10,055 SF drive-thru drug store built in 2001 on 1.53 ac lot at a busy corner location in growing (59.92%) and wealthy (AHI $100K/yr) city . 22 yrs NNN- lease with 9 yrs left. NOI $170K/yr with unusual 5% rent increases every 5 yrs. $2.44M. 7% cap.
7. Retail Center in Lakewood, WA: 28,815 SF established retail center completely remodeled in 2004 on nearly 3 ac outparcel to 775,000 SF Lakewood Towne Center in Tacoma suburbs. Tenants include: Cartridge World, Chase Bank, Café, Tuesday Morning, Navy Federal Credit Union and more. 100% NNN leased. NOI $336K/yr. $4.275M. 7.87% cap. Low price of $148/SF.
8. Retail Center in Orange, CA: 13,792 SF retail center on .96 ac lot at high traffic location in high-income, densely populated Orange County. Close to Chapman Medical Center and Hwy-14. 100% leased. NOI $195K/yr. $3.395M. 5.75% cap.
9. MOB in Sun City Center, FL: 9403 SF Class B medical office building constructed in 1997 in Tampa metro. Adjacent to South Bay Hospital and close to I-75. 86% leased. NOI $85K/yr. $963K/yr. 8.84% cap.
10. O’Reilly Auto Parts in Chico, CA: 8000 SF well maintained auto parts retail building on .72 ac lot in a growing city in Northern CA. Close to North Valley Plaza Mall and Hwy-99.  100% absolute NNN lease with 5 yrs left. NOI $152K/yr. $2.338M. 6.50% cap. 

© Transmercial 2012