11-05: Burlington Coat Factory, Mattress Hub, Walgreens, Applebee's, Denny's, MOB's

1. Burlington Coat Factory & Mattress Hub in Wichita, KS: 113,080 SF well maintained big box retail building on 7+ acres lot at major retail corridor. Part of Westgate Market, a 133,000 SF power center. Adjacent to Walmart Supercenter and Sam’s Club and near West of Town Square Mall. 100% NNN leased to two tenants: Burlington Coat Factory and Mattress Hub (note: Burlington subleases 20,000 SF to Office Depot at twice the its rate). NOI $631K/yr. $7.5M. 8.42% cap.
2. Retail Center in Cypress, TX: 8400 SF retail center built in 2005 on .87 ac lot in high income Houston suburbs. Tenants include: Chain Mexican Restaurant, Liquor Store, Doctor Office, and Body Art of Houston. 100% NNN leased. NOI $144K/yr. $1.775M. 8.13% cap.
3. Walgreen’s in Hayward, CA: 15,120 SF drugstore built in 2000 on 1.55 ac lot in middle-class San Jose metro. Outparcel to Mission Plaza, a 89,000 SF center anchored by Raley’s grocery. 100% NNN- with 13 yrs left.  NOI $425K/yr with rare 10% rent bump in 2025. $6.8M. 6.25% cap.
4. Strip Center in Cincinnati, OH: 10,079 SF 3 yrs old retail center on 1+ ac lot at a hard corner location. Close to Western Hills Mall and Home Depot. 100% NNN leased to six national tenants: Chipotle, The UPS Store, Jimmy John’s, Edible Arrangements, Pizza Hut and T-Mobile. NOI $233K/yr. $2.715M. 8.61% cap.
5. Applebee’s in Roanoke, VA: 5,127 SF casual dining restaurant built in 2006 on 1.44 ac outparcel to Lowe’s and Wal-Mart Supercenter along busy thoroughfare. Strong demographics:  AHI $89K/yr within 1 mile. 100% NNN lease with 10+ yrs left. NOI $216K/yr. $3.05M. 7.10% cap. 
6. Shopping Center in Oldsmar, FL: 31,022 SF 10-unit attractive shopping center built in 2007 on 4+ ac lot at main corridor in high income (AHI $85K/yr within 3 mile radius) Tampa Bay metro. 92% NNN leased to 8 tenants with 2 small vacant units.  Current NOI $475K/yr. $5.761M. 8.25% cap. Upside potential when fully leased.
7. Denny’s in Euless, TX: 5432 SF Denny’s restaurant on 1+ ac lot off/on Fwy-183 in Fort Worth/Dallas metro. Next to Home Depot and Quality Inn Hotel. Close to  Methodist Hospital. New 20 yrs absolute NNN lease. This is a sale & leaseback investment, so terms are negotiable. NOI $120K/yr with 10% rent increases every 5 yrs. $1.678M. 7.15% cap.
8. MOB & Retail Center in Tinley Park, IL: 4,100 SF MOB and 20,900 retail center on 2.74 ac lot at a hard corner location in high income Chicago metro. 68% leased to 9 tenants. Proforma NOI $157K/yr. $1.9M. 8.30% proforma cap.
9. MOB in Aurora, CO: 38,794 SF well maintained 16-suites medical office building on 1.66 ac lot in fast growing upper middle class Denver suburbs. Long term tenants, most of whom have occupied for over 15 yrs. 83% NNN leased to 13 medical/dental tenants.  Current NOI $328K/yr. $4.01M. 8.20% cap. Upside potential.

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