12-05: Advance Auto Parts, Auto Center, AutoZone, Wendy's, Dental, Funeral Home

1. Dialysis Center in Creve Coeur, MO: 19,129 SF recently renovated single-tenant 41-station dialysis center on 1.58 ac lot across from 84-bed Barnes Jewish West County Hospital in St. Louis suburbs with AHI of $112K/yr in 1 mile. Tenant has been at this location for 30 yrs. 15 yrs absolute NNN lease with 11+ yrs left to Renal Services of America, a national provider of dialysis services. NOI $382K/yr with 3% annual rent increases. $4.937M. 7.75% cap.
2. Advance Auto Parts (S&P BBB-) in South Sioux City, NE: 7000 SF retail building constructed in 2000 on .65 ac corner lot at a main corridor. Store with strong $1.78M in sales. 100% NNN- recently extended corp lease with 11+ yrs left. NOI $69K/yr. $992K. 7% cap.
3. Auto Center in Palmdale, CA: 10,634 SF well maintained auto center built in 1993 on .95 ac lot at main retail corridor in fast growing city in Los Angeles. Adjacent to Pep Boys and across Auto Zone. 100% leased to four tenants. NOI $126K/yr. $1.4M. 9.17% cap.
4. Retail Center in Dania Beach, FL: 6420 SF well maintained retail center on .98 ac lot at Hwy-1 just South of Fort Lauderdale.  87% leased with only one vacant unit. Proforma NOI $68K/yr. $900K. 7.59% proforma cap.
5. AutoZone in Northlake, IL: 6500 SF AutoZone on .57 ac lot at a major retail corridor and high income Chicago metro. Close to Home Depot, Walmart and Sam’s Club center & 79-bed Kindred Hospital of Chicago Northlake. 20 yrs absolute NNN corp ground lease (land is for sale) with 12 yrs left. NOI $46K/yr. $736K. 6.25% cap.
6. Wendy’s in Buffalo Grove, IL: 4089 SF free standing drive-thru stable restaurant on 1.27 ac lot at main retail corridor in affluent (AHI $104K/yr in 1 mile) Chicago suburbs.  Tenant has been at this location since 1990. . 100% NNN ground lease with 2 yrs left (land is for sale, should tenant not renew the lease, the building with substantial value with be reverted to landowner) . NOI $73K/yr. $950K. 7.68% cap.
7. Dental Office in Phoenix, AZ: 2271 SF recently remodeled dental office on .51 ac lot across from 99¢ Only and Fry’s grocery. 100% NNN lease with 10 yrs left to Grins Dental, currently operating three locations. NOI $65K/yr. $816K. 8% cap.
8. Funeral Home in Colorado Springs, CO: 7957 SF attractive funeral home with crematorium. Built in 2004 at a corner location with several points of egress/ingress. Close to 522-bed Penrose Main St Francis Hospital. 100% NN lease to Cappadona Funeral Home with 9+ yrs left.  NOI $103K/yr. $1.035M. 10% cap. Tenant with 2 locations and in business very resistant to recession.

© Transmercial 2012