11-09: Walgreens, Church's chicken, Chipotle, Taco Bell, Burger King, DaVita, Retail center

1. Walgreens in Philadelphia, PA: 13,833 SF drug store built in 1994 on 1.86 ac lot in densely populated area.  25 yrs NNN- leased till 12/2017.  NOI $270K/yr. $3.375M. 8% cap.  Store with $4.6M in sales revenue.  
2. Church’s Chicken in Edinburg, TX: 3175 SF restaurant built in 2005 on .8 ac corner lot in high growth, high income McAllen metro.  20 yrs absolute NNN corp lease with 14 yrs left.  NOI $144K/yr with 12% rent bumps every 5 yrs.  $1.806M. 8% cap.  
3. Chipotle in Salem, OR: 3800 SF Chipotle Mexican Grille restaurant built in 2004 across from Lancaster Mall.  10 yrs NNN- corp lease till 2018.  NOI $100K/yr. in 6/2013.  $1.35M. 7.4% cap in 6/2013. 
4. Taco Bell in Jacksonville, FL: 2074 SF restaurant 2 blocks from the busy I-295. 100% absolute NNN lease with 9 yrs left and guaranty from a 62-unit operator.  NOI $193K/yr with 1.75% annual rent bumps. $2.664M. 7.25% cap.  
5. Strip Mall in Clovis, CA: 7074 SF 7-unit strip center on .93 ac lot in affluent area in Fresno metro (AHI $112K/yr in 1 mile).  100% NNN leased.  NOI $133K/yr.  $1.9M. 7% cap.  
6. Burger King in Phoenix, AZ: 4057 SF restaurant on .84 ac lot.  New 20 yrs NNN lease to an operator with 6 units.  NOI $101K/yr with 10% rent bumps every 5 yrs.  Store with $1.2M in sales. $1.45M. 7% cap.  
7. DaVita in Allen Park, MI: 9300 SF dialysis center on .43 ac lot in Detroit metro.  100% NNN- lease with 12 yrs left.  NOI $164K/yr. $1.731M. 9.5% cap.  
8. Office Building in Southlake, TX: 5964 SF single-tenant office building completed in 1998 on ¾ ac lot near Southlake Towne Square center in affluent Dallas suburbs with AHI $213K/yr in 1 mile. 100% leased.  NOI $75K/yr. $945K. 8% cap.

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