11-06: Starbucks, KFC, Rite Aid, 24 Hour Fitness

1. Starbucks Strip Center in Katy, TX: 6557 SF newly constructed strip center on 3.24 ac lot in fast growing (680.42% pop growth since 2000) and wealthy (AHI $109K/yr in 1 mile) Houston metro. Tenants include: Starbucks, Koko Fit club, Century Cleaners and La Royale Pedispa.  Next to top performing HEB Plus supermarkets, Home Depot and brand new Whole Foods. 100% NNN leased. NOI $235K/yr. $3.044M. 7.75% cap.
2. Shopping Center in Charlotte, NC: 18,500 SF shopping center built in 2001 on 2+ ac lot in growing and high income area. 100% NNN leased. NOI $289K/yr. $2.6M. 11.12% cap.
3. Shopping Center in Dayton, OH: 20,940 SF well maintained shopping center built in 2007 on 7½ ac lot.  Shadow-anchored by a 68,415 SF Kroger grocery. 76% NNN leased to Aaron’s Rent, Ross Medical Education Center and Kiducation. NOI $115K/yr. $1.45M. 8.87% cap. Upside potential.
4. KFC in Lawrenceville, GA: 2351 SF KFC on .70 ac outparcel to Hobby Lobby center in Atlanta suburbs. Near Gwinnett Medical Center and Hwy-316.  New 20 yrs absolute NNN lease to a strong operator with 171 units. NOI $67K/yr with 10% rent increases every 5 yrs. $1.038M. 6.50% cap.
5. KFC in Snellville, GA: 2456 SF attractive KFC restaurant on .48 ac lot at main retail corridor in growing and high income (AHI $81K/yr in 3 miles) Atlanta suburbs. Across from Eastside Heritage Center Hospital. New 20 yrs absolute NNNN lease to a strong operator with 171 units. NOI $63K/yr with 10% rent increases every 5 yrs. $944K. 6.75% cap.
6. Retail Center in Crete, IL: 10,200 SF retail center on in affluent (AHI $116K/yr) Chicago suburbs. 100% NNN leased to established tenants. NOI $130K/yr. $1.295M. 10.10% cap.
7. Neighborhood Center in Cincinnati, OH: 89,008 SF well maintained shopping center on nearly 9 acres of land in prosperous neighborhood with an AHI of $166K/yr in 1 mile. Major tenants include: Aldi Grocery, Jo-Ann Fabric, Firestone, and recently expanded Asian Market. 89% NNN leased. NOI $548K/yr. $6.45M. 8.50% cap.
8. Strip Center in Lewisville, TX: 12,170 SF attractive strip center on 1.62 ac lot at densely retail corridor in growing upper middle class Dallas metro. Between Lowe’s and Home Depot and next to I-35. 89.9% occupied with a synergistic tenant mix including Subway, Sport Clips, Fat Cow BBQ, Pro Cleaner, So Good Donuts, Gold & Diamond, Q Nail and Dr. Capehart Dentistry. NOI $214K/yr. $2.683M. 8% cap. 
9. Rite Aid in Redwood City, CA: 17,500 SF Rite Aid pharmacy on 2+ ac lot at a hard corner location in affluent town in Silicon Valley (AHI $133K/yr in 3 miles).100% NNN- lease with 6 yrs left. NOI $447K/yr. $7.175M. 6.24% cap. 
10. 24 Hour Fitness in Reno, NV: 24,000 SF single tenant fitness center on 3 ac lot adjacent to Meadowood Mall. Tenant has been at this location since 1997. Tenant just signed a 5 yrs NNN lease extension and will complete $240K in renovations. NOI $350K/yr. $3.5M. 10% cap.

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