Wednesday, November 14, 2012

10-30: Taco Bueno, MOB, Shopping Centers



  1. Shopping Center in Edmond, OK: 70,672 SF shopping center on nearly 7 ac of land at hard corner location in fast growing and high income area. Credit tenants include: Ace Hardware, Dollar General and Wight Watchers. 76% leased. Proforma NOI $546K/yr. $5.9M. 9.30% proforma Cap.  
  2. Taco Bueno in Wichita, KS: 2250 SF Taco Bueno restaurant built in 2005 on .81 ac lot near 760-bed acute care Wesley Medical Center.  Tenant recently acquired a license allowing them to serve beer, wine and margaritas.  15 yrs NNN corp lease with 8 yrs left.  NOI $85K/yr with 10% rent bumps every 5 yrs.  $1.046M. 8.20% cap.  
  3. Shopping Center in McAllen, TX: 42,599 SF attractive shopping center built in 2006 at a busy retail corridor in high income (AHI $92K/yr) area. Only one vacant unit. NOI $361K/yr. $4.2M. 8.60% cap.  
  4. MOB in Louisville, KY: 16,768 SF Class B medical office building on 1.27 ac lot Across from Norton Suburban Hospital. 91% leased with only one vacant unit. NOI $176K/yr. $2.125M. 8.30% cap.

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