Tuesday, December 18, 2012

12-04: Captain D's Seafood, TitleMax, Nexus Specialty Hospital, Retail Centers



  1. Captain D’s Seafood in Birmingham, AL: 2505 SF Captain D’s Seafood restaurant on .47 ac lot on/off ramp I-65. Tall signage visible from I-65. 20 yrs NNN corp lease with 10 yrs left. NOI $67K/yr with a 10% rent bump in 2018. $837K. 8% cap.
  2. Shopping Center in Fresno, CA: 35,835 SF well maintained shopping center built in 1990 on 2.62 ac lot a main corridor and close to Hwy-99. Excellent ingress/egress. Close to Walmart, Kohl’s, Target, Costco and The Home Depot. 68% leased. Actual NOI $309K/yr. $3.725M. 8.30% cap. Upside potential.
  3. Retail Center in Peoria, AZ: 25,481 SF attractive retail center on 3.58 ac lot at a hard corner location in high (AHI $84K/yr) income Phoenix suburbs. Shadow anchored by Lee Lee International Supermarket. Across from Fry’s Food center and CVS. 76% leased. NOI $493K/yr. $5.815M. 8.48% cap.
  4. Shopping Center in Naples, FL: 25,208 SF well established shopping center on 2.39 ac lot at a signalized intersection on U.S. 41. NNN leases. NOI $350K/yr. $5.395M. 6.50% cap. Buyer to assume $2.95M loan.
  5. MOB in Shenandoah, TX: 40,000 SF state-of-the-art medical office building between Memorial Hermann Hospital and St. Luke’s Hospital. In wealthy (AHI $118K/yr in 3 mile) Houston suburbs. 100% NNN leased Nexus Specialty Hospital. NOI $957K/yr. $10.9M. 8.78% cap.
  6. Strip Center in Oakdale, MN: 12,289 SF strip center constructed in 2004 at a hard corner location in high income St. Paul/Minneapolis metro. 92% NNN leased to Family Dollar, Sarpino’s Pizza and Snap Fitness. NOI $151K/yr. $1.2M. 12.60% cap.
  7. Strip Center in Kennesaw, GA: 28,328 SF well maintained strip center on 2.72 ac lot with two ingress/egress points & close to I-75. In fast growing & high income Atlanta metro. 88% leased with good tenant mixes. NOI $234K/yr. $2.6M. 9% cap.
  8. Office Building in Vancouver, WA: 41,500 SF Class B office building constructed in 1999 next to Hwy-14 and near I-5. 75% leased to multiple tenants. NOI $543K/yr. $7.492M. 7.25% cap.
  9. Single Tenant Retail Center in Houston, TX: 3303 SF retail center renovated in 2005 on .63 ac lot in densely populated middle class area. 10 yrs NNN- lease to TitleMax, a regional tenant with 600 stores in 12 states. NOI $79K/yr with a rent bump in yr 6. $990K. 8% cap.

© Transmercial 2012
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