10-25: DaVita, Walgreens, Burger King, Wal-mart Center, Auto Center, Fletchers Tire, Advance Auto Parts

1. DaVita (NYSE: DVA) in Cincinnati, OH: 6310 SF dialysis center built in 2008 on 2.57 ac lot close to Mercy Health Hospital, Cincinnati Mall and I-275. 10 yrs NNN- corp lease with 5 yrs left. NOI $97K/yr with 2.5% annual rent increases. $1.083M. 9% cap.
2. Walgreens in Las Vegas, NV: 15,120 SF Walgreens built in 2001 on over 2 ac corner lot in high income area. 100% NNN-  corp lease with 7+ yrs left. NOI $322K/yr. $4.129M. 7.80% cap.
3. Burger King in Richland, WA: 3561 SF Burger King restaurant built in 2004 on .77 ac outparcel to Walmart Supercenter, Target, Lowe’s and Gold’s Gym. In high income area and next to on/off ramp I-182. 100% NNN lease with 11+ yr left to an experienced franchisee with 8 units. NOI $118K/yr with rent bumps every 5 yrs. $1.737M. 6.85% cap.
4. Wal-mart Center in Orlando, FL: 10,165 SF retail center built in 2005 on 1.25 ac outparcel to a 24-Hour Wal-mart (not a part) and across from 225-Bed Florida Hospital East Orlando. 100% leased. NOI $316K/yr. $4.2M. 7.53% cap.
5. Retail Center in Toledo, OH: 17,140 SF well maintained retail center built in 2006 next to Kroger Supermarkets and I-75. Tenants include: DaVita Dialysis, Little Caesars, Great Clips Goodwill, China King, Blue Quarry and Memorize.  Close to Chrysler North Toledo Assembly. 100% NNN leased. NOI $212K/yr. $2.125M. 10% cap.
6. Auto Center in Palmdale, CA: 10,634 SF attractive auto center built in 1993 on .95 ac lot at main retail corridor in fast growing city in Los Angeles. Adjacent to Pep Boys and across Auto Zone. 100% leased to four tenants. NOI $126K/yr. $1.4M. 9.01% cap.
7. Burger King in Santa Anna, CA: 4264 SF Burger King built in 1998 on .76 ac lot at main entrance to 330,000 SF Centre on Seventeenth Street anchored by Albertsons, Staples, Ross and PetSmart center. Close to Western Medical Center and Hwy-55. 10 yrs NNN lease with 6 yrs left. NOI $143K/yr with 10% rent increases in options. $2.6M. 5.50% cap.
8. Fletcher’s Tire in Phoenix, AZ: 6682 SF single tenant Fletcher Tire & Auto Service, a regional auto center with 30 locations in AZ.  100% NNN lease with 8 yrs left. NOI $95K/yr. with 3% annual rent increases. $1.295M. 7.40% cap.
9. Advance Auto Parts in Kenosha, WI: 7000 SF Advance Auto Parts on 2.38 ac lot adjacent to new Walgreens. Tenant has been at this location since 2004. 15 yrs NNN lease with 7 yrs left. NOI $98K/yr. $1.268M. 7.75% cap.
10. MOB in Peoria, AZ: 3573 SF Class B office condo built in 2011 part of a medical park development in affluent (AHI $123K/yr) Phoenix metro. 7 yrs NNN lease to John C. Lincoln Health Network, one of the Largest Healthcare Providers in AZ. NOI $67K/yr with 3% annual rent increases. $969K. 7% cap.

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