10-22: Burger King, Jack in the Box, Petco, Chili's

1. Retail Center in Grand Rapids, MI: 16,668 SF attractive retail center built in 2003 on 1+ ac lot. Across from Centerpointe Mall and next to the Woodland Shopping Mall. 100% NNN leased to national & local tenants. NOI $227K/yr. $2.6M. 8.75% cap.
2. MOB in Orlando, FL: 15,773 SF Class A medical office building on 2+ ac lot across from Florida Hospital East and close to Hwy 408/417. 100% NNN leased to multiple tenants. NOI $343K/yr. $4.75M. 7.25% cap.
3. Burger King in Wauconda, IL: 2845 SF well maintained drive-thru fast food restaurant on 1.27 ac lot in growing well-off (AHI $103K/yr within 3 miles) Chicago metro. Next to ACE Hardware center and near Hwy-59. 100% NNN leased with 12 yrs left to an 2^nd largest Burger King franchisee. NOI $109K/yr with 1% annual rent increases. $1.465M. 7.50% cap.
4. Jack in the Box in Houston, TX: 2357 SF two yrs old Jack in the Box restaurant on .77 ac lot at a five point signalized intersection in upper middle class area. 20 yrs absolute NNN lease with 18 yrs left to an experienced franchisee with 95 units. NOI $173K/yr with 5% rent bumps every 5 yrs. $2.668M. 6.5% cap.
5. Chili’s in West Dundee, IL: 5358 SF Chili’s restaurant built in 1994 on nearly 2 ac outparcel to Target and Best Buy in growing and affluent (AHI $100K/yr) Chicago suburbs. Across from Spring Hill Mall anchored by Macy’s, Kohl’s and Sears.  100% NNN lease with 15 yrs left to a strong operator. NOI $171K/yr with 1.5% annual rent increases. $2.29M. 7.50% cap.
6. MOB in Gilroy, CA: 36,593 SF Class-A 2-story medical office building constructed in 1991 on 2.57 ac lot next to St Louise Regional Hospital and Hwy-101 in high-income Silicon Valley suburbs. NNN leases. NOI $513K/yr.  $5.85M. 8.78% cap.
7. Shopping Center in Grapevine, TX: 36,490 SF well kept shopping center on 3+ ac lot at busy corridor in thriving (AHI $156K/yr in 3 miles) Dallas/Fort Worth metro. Near Baylor Regional Medical Center and Hwy-114.  97% NNN leased. NOI $549K/yr. $5.848M. 9.39% cap.
8. Strip Center in Indianapolis, IN: 13,200 SF strip center built in 2006 on 2½ ac lot at high traffic location and next to McDonalds and off/on ramp I-465.  82% leased. NOI $165K/yr. 1.65M. 10% cap.
9. Retail Center in Rochester, MN: 12,500 SF 8 units well maintained retail center close to St Mary’s Hospital and Hwy-52. Excellent demographics: AHI $121K/yr within 1 mile. 97% leased. NOI $128K/yr. $1.6M. 8% cap.
10. Petco in West Dundee, IL: 19,000 SF free standing retail building constructed in 1997 on 1.73 ac lot in growing and affluent (AHI $100K/yr) Chicago suburbs. Across from Spring Hill Mall anchored by Macy’s, Kohl’s, Sears and Home Depot. 100% NNN- corp lease with 7 yrs left. NOI $196K/yr. $2.35M. 8.34% cap.  

© Transmercial 2012