12-12: Arizona's Steakhouse Restaurant, KFC, JP Morgan Chase, Macayo's Mexican Kitchen

1. Arizona’s Steakhouse Restaurant in Lithonia, GA: 6442 SF upscale steakhouse restaurant built in 2004 on 1.57 ac outparcel to The Mall At Stonecrest, a 1.2M SF Regional Mall near  I-20 exit in fast growing Atlanta suburbs.  100% NNN leased with 10 yrs left. NOI $246K/yr. with 2% annual rent bump. $3.2M. 7.70% Cap in Jan 2013.
2. Short-sale Strip Center in Jonesboro, GA: 9600 SF attractive retail center built in 2007 on a corner lot along main corridor in fast 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.
3. KFC in Baton Rouge, LA: 3,200 SF drive-thru KFC restaurant built in 1994 on .59 ac lot next to O’Reilly Auto Parts and across McDonalds. Close to Cortana Square Shopping Center. 15 yr absolute NNN lease to experienced operator with 10 units. NOI $56K/yr with 1.5% annual rent increases. $910K. 7.25% cap.
4. Shopping Center in Plano, TX: 83,924 SF well maintained & mature shopping center on 5.61 ac lot anchored by Dollar General in fast growing and high income (AHI $97K/yr in 3 mile) Dallas metro. Close to 323-bed Medical Center of Plano. 83% leased. NOI $503K/yr. $5.925M. 8.50% cap.
5. Retail Center in North Hollywood, CA: 8372 SF renovated retail center on .32 ac lot in densely populated area with ½+ million residents within 3 miles ring. Across from Home Depot. 100% NNN leased. NOI $135K/yr. $1.875M. 7.23% cap.
6. JP Morgan Chase (S&P A)  in Fort Worth, TX: 3530 SF Chase Bank constructed  in 2008 on .55 ac lot close to John Peter Smith Hospital, Baylor All Saints Medical Center and I-35W. 10 yr absolute NNN corp lease to JP Morgan Chase with 6 yrs left. NOI $121K/yr. $1.948M. 6.25% cap.
7. Macayo’s Mexican Kitchen in Phoenix, AZ: 7783 SF restaurant built in 1997 on 1.58 ac lot in affluent area with AHI of $102K/yr in 3 miles. Close to Foothills Park Place, a 310,418 SF power center anchored by JCPenny, Sports Authority, Best Buy, Barnes & Noble and Target & 1-10. 100% NNN lease with 7 yrs left to a regional  chain with 14 locations. NOI $188K/yr. $2.2M. 8.54% cap.
8. Office Building in Birmingham, AL: 6333 SF Class B two story office building constructed in 1999 on 1 ac lot in fast growing and high income area. Near Riverchase Galleria and I-459. 100% leased to professional and medical tenants. NOI $128K/yr. $1.6M. 8% cap.
9. Retail Center in Colorado Springs, CO: 8533 SF retail center on 1 ac lot at a main retail corridor. In high income area and near I-25. NOI $149K/yr. $1.866M. 8% cap.
10. Retail Center in Fontana, CA: 7194 SF attractive retail center built in 2008 on .64 ac lot with big monument sign in San Bernardino County. Across from Walmart center. NOI $185K/yr. $1.95M. 9.49% cap.

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