Thursday, December 27, 2012

12-10: Retail condos, Shopping centers, Burger King, Wendys, Taco Bell, Walgreens, Days Inn


  1. Retail Condos in Jamaica Plain, MA:  5869 SF 4-unit condos built in 2007 in high-income densely populated Boston metro with 850K residents in 5 miles radius.  100% NNN leased.  NOI $128K/yr.  $1.349M. 9.5% cap. 
  2. Shopping Center in Corona, CA:  41,366 SF shopping center on 5.71 ac parcel in affluent area (AHI $129K/yr in 1 mile) in Southern CA.  Easy access to Hwy 91.  Pro-forma NOI $552K/yr. $4.895M. 11.29% pro-forma cap.  Just $118/SF. 
  3. Shopping Center in Victorville, CA: 19,724 SF 12-unit shopping center built in 2007 on 1. 64 ac lot with all unit facing the main road.  Adjacent to the proposed Super Walmart  scheduled to break ground in 2013.  75% NNN leased.  Current NOI $314K/yr. $3.925M. 8% cap.  
  4. Burger King in Chicago, IL: 3377 SF Burger King on .97 ac lot.  Renovated in 2012.  Tenant has been here since 1991.  20 yrs absolute NNN lease with 19 yrs left to the 2nd largest Burger King operator with 223 units.  NOI $100K/yr with percentage rent clause.  $1.344M.  8% cap. 
  5. Taco Bell in Irving, TX: 2374 SF Taco Bell restaurant with 15 yrs absolute NNN lease (13 yrs left) to the 2nd largest Yum-brand operator with 230+ units.  NOI 66K/yr with 1% annual rent bumps.  $1.059M. 6.25% cap. 
  6. Wendys in Lawrenceville, GA: 2770 SF restaurant on .85 ac lot in high income Atlanta metro.  100% NNN absolute lease with 13 yrs left to an operator with 20 units.  NOI $121K/yr. with 1.5% annual rent bumps.  $1.68M. 7.25% cap. 
  7. MOB in Santa Cruz, Ca: 5045 SF single-tenant medical office building.  100% NN lease.  NOI $99K/yr. $1.422M. 6.5% cap.
  8. Days Inn in Tampa, FL: 132-unit hotel/motel built in 1984 on 2.14 ac lot close to I-4.  Amenities include swimming pool, fitness center  and manager apartment.  $2.6M.  Less than $20K/unit.  
  9. Walgreens in Lynwood, WA: 14,490 SF Walgreens built in 2002 on 1.69 ac lot in stable Seattle metro with no state income taxes.  100% NNN lease with 10 yrs left.  NOI $412K/yr.$5.89M. 7% cap.

© Transmercial 2012

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