11-29: Walgreen's, Burger King, Big 5 Sporting Goods, Arby's

1. Short-sale Strip Center in Jonesboro, GA: 9600 SF attractive retail center built in 2007 on a corner lot along main corridor in fat growing Atlanta metro. Sold in 2008 for $1.975M. 62% leased. NOI $71K/yr. Lender has approved the purchase price of $699K. 10.21% cap. Only $72.81 psf. Upside potential for appreciation.
2. Walgreens(S&P BBB) in St. Louis, MO: 13,987 SF drive-thru drug store built in 1999 on 2+ ac lot at a hard corner location. In high income area and close to I-55. Close to 355-bed St. Louis VA Medical Center and 38-bed Kindred Hospital St. Louis-St. Antony’s. 20 yrs NNN- corp lease with 7+ yrs left. NOI $348K/yr. $4.7M. 7.40% cap.
3. Burger King in Richland, WA: 3561 SF fast food restaurant built in 2004 on .77 ac outparcel to Walmart Supercenter, Target, Lowe’s and Gold’s Gym. In high income area and next to on/off ramp I-182. New 11 yrs NNN lease to an experienced franchisee with 8 units. NOI $119K/yr with rent bumps every 5 yrs. $1.695M. 7.02% cap.
4. Big 5 in Parker, CO: 11,562 SF single-tenant retail building constructed in 2008 on 1 ac lot next to Hwy 470 exit in affluent (AHI $113K/yr in 3 miles) and fast growing (102.07%  growth) Denver suburbs.  100% NNN- corp lease with 6 yrs left.  NOI $190K/yr with 10% rent bump in 2013.  $2.2M. 8.67% cap.
5. Neighborhood Center in Grapevine, TX: 21,853 SF attractive retail center built in 2006 on 2.61 ac lot in affluent neighborhood with an AHI of $168K/yr in 1 mile. Close to 60-bed Ethicus Hospital-Grapevine and Hwy-121. 100% leased with credit tenants including: Anytime Fitness, Subway and Papa Murphy’s Pizza. NOI $450K/yr. $5.161M. 8.75% cap.
6. Shopping Center in Bedford, TX: 41,205 SF well maintained shopping center on 3.65 ac lot in growing and high income Fort Worth/Dallas metro. Recent improves include: façade, parking lot and portions of the roof. In close proximity to 300-bed Texas Health Harris Methodist Hurst-Euless-Bedford Hospital and Hwy-121/183. 90% NNN leased to 12 tenants. NOI $397K/yr. $4.42M. 9% cap.
7. Arby’s in Peoria, AZ: 3100 SF restaurant built in 2001on .72 ac outparcel to a shopping center anchored by Home Depot, K-mart and Petsmart.  Close to Hwy-101. 20 yrs absolute NNN corp lease with 9 yrs left. NOI $135K/yr with 1% annual rent bumps. $1.544M. 8.75% cap.
8. Walgreen’s in Morton Grove, IL: 14,440 SF Walgreen’s on 1.50 ac lot at a hard corner location in high income (AHI $106K/yr in 1 mile) Chicago suburbs. On/Off ramp I-94.  100% NNN- lease. NOI $388K/yr. $5.363M. 7.25% cap.
9. Strip Center in El Paso, TX: 4447 SF recently remodeled strip center on .41 ac lot at a signalized corner location and at major retail artery. 100% leased. NOI $85K/yr. $945K. 9% cap.

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