Wednesday, December 5, 2012

11-21: Golden Corral, Taco Bell & Pizza Hut, Applebbe's, MOB, Professional Plaza, Retail Centers



  1. Neighborhood Center in Fresno, CA: 51,023 SF shopping center on 5.63 ac outparcel to WinCo Foods at a hard corner location and across from Walmart. Close to 49-bed Raintree Convalescent Hospital nursing home. 90% NNN leased to CVS, Panda Express  and a multi-tenant center. NOI $1.046M/yr. $13.5M. 7.75% cap.
  2. Retail Center in San Leandro, CA: 21,705 stable eight units retail center on 1.54 ac lot at a signalized corner location close to I-880/238 in Northern CA. 100% leased. NOI $209K/yr. $2.55M. 8.20% cap.
  3. Golden Corral in Dallas, TX: 8448 SF Golden Corral Buffet Restaurant built in 1997 on 1.50 ac lot in high income area with an AHI of $86K/yr within 3 miles. Close to 202-bed Dallas Medical Center and I-635. New 15 yrs absolute NNN lease to the largest Golden Corral franchisee with 200+ units. NOI $240K/yr with 10% rent bumps every 5 yrs. $3M. 8% cap.
  4. Taco Bell & Pizza Hut in Dallas, TX: 1949 SF dual-branded fast food restaurant built in 1995 on .75 ac lot at main retail corridor between I-35E and Hwy-12. 15 yrs absolute NNN lease to 2nd largest franchisee with 230+ units with 14 yrs left. NOI $67K/yr with 1% annual rent increases. $1.118M. 6.25% cap.
  5. Professional Plaza in Tucson, AZ: 26,258 SF Class B professional plaza anchored by Immune Recovery and Wellness & AZ Naturopathic Physicians. Across from Tucson medical Center.  87% leased to 14 tenants. Proforma NOI $233K/yr. $2.6M. 9% cap.
  6. Applebee’s in Fargo, ND: 6954 SF Applebee’s restaurant built in 2008 on 1.52 ac lot close to West Ares Shopping Center and I-94. New 20 yrs absolute NNN lease to a strong and experienced franchisee. NOI $192K/yr with 7.5% rent bumps every 5 yrs. $2.648M. 7.25% cap.
  7. Applebee’s in Fargo, ND: 5396 SF single-tenant family restaurant built in 1994 at major retail corridor. In close proximity to West Acres Shopping Center and I-29. NOI $132K/yr with 7.5% rent bumps every 5 yrs. $1.82M. 7.25% cap.
  8. MOB in Florence, KY: 17,527 SF 2-story Class B medical office building constructed in 2007 in Cincinnati suburbs. Anchored by Fresenius Dialysis Center. 100% NNN leased. NOI $275K/yr. $3.443M. 8% cap.
© Transmercial 2012
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