12-14: Goodyear, 7-Eleven, FAST Lube, Sonic, Rite Aid, Burge King, Neighborhood Centers

1. Goodyear in Fishers, IN: 6240 SF auto center built in 1990 on .74 ac lot in growing and high income Indianapolis suburbs. Next to CVS and across from Kroger grocery and Marsh grocery centers.  15 yrs NNN- corp lease with 2.75 yrs left. NOI$50K/yr. $725K. 6.80% cap.
2. 7-Eleven in Vancouver, WA: 2940 SF E-Eleven on .69 ac lot close to Westfield Vancouver Mall and I-205. 10 yrs NNN- corp lease with 7+ yrs left. NOI $88K/yr with a rent increase in 2015. $1.435M. 6.15% cap.
3. Burger King in Shreveport, LA: 3734 SF soon to be remodeled drive-thru fast food restaurant built in 1994 on .57 ac outparcel to Home Depot and I-49 ramp. New 20 yrs NNN lease. NOI $80K/yr with fixed rental increases. $1.23M. 6.50% cap.
4. FAST Lube in Torrance, CA: 1264 SF well maintained auto center on .29 ac corner lot at a busy corridor in Los Angeles County. Close to Del Amo Fashion Center and Torrance Memorial Medical Center. Tenant has been at this location for 20+ yrs. 15 yrs NNN lease with 12 yrs left. NOI $55K/yr with rent increases in 2014 & 2016. $875K. 6.37% cap.
5. Sonic Drive-in in Hayward, CA: 1761 SF restaurant built in 2009 on .85 ac outparcel to Fairway Park, a138 669 SF shopping center at a busy thoroughfare. In high income San Francisco Bay Area. 20 yrs absolute NNN ground lease (only land is for sale, tenant owns the building) with 17+ yrs left. NOI $79K/yr with 10% rent bumps every 5 yrs. $1.374M. 5.75% cap.
6. Strip Center in San Diego, CA: 4765 SF well kept strip center on .32 ac corner lot in densely populated area.100% NNN leased to two stable tenants with 7-Eleven having a new 10 yrs corp lease. NOI $122K/yr. $1.745M. 7% cap.
7. Neighborhood Center in Memphis, TN: 70,462 SF shopping center built in 1994 on 11+ ac lot anchored by 15,000 SF Dollar Tree and 9,952 SF Fresenius Medical Care. Shadow anchored by Walmart Supercenter, Kroger and Goodwill. 98% leased with mostly NNN leases. Next to 246-bed Methodist North Hospital. NOI $585K/yr. $7M. 8.36% cap.
8. Rite Aid in Westlake, OH: 11,320 SF drive-thru Rite Aid pharmacy built in 1998 on 1.61 ac lot at a high traffic location and in high income (AHI $85K/yr) neighborhood in Cleveland metro. 100% absolute NNN lease with 9 yrs left. NOI $390K/yr. $3.9M. 10% cap.
9. Burger King in Chattanooga, TN: 2273 SF Burge King constructed in 2007 alongside major corridor and next to Hwy-153. Close to Chattanooga Airport and near I-75. New 15½ yrs NNN lease to strong franchisee with 18 units. NOI $152K/yr with 10% rent increases every 5 yrs. $2.107M. 7.25% cap. 
10. Shopping Center in Chula Vista, CA: 38,290 SF center consisting of three buildings constructed in 1998 on 3.6 ac lot anchored by Pep Boys in San Diego County. In affluent area with an AHI of $114K/yr in 1 mile.  Next to 24-Hour Fitness and across from Costco and Kmart. 100% leased. NOI $567K/yr. $8.1M. 7% cap.

© Transmercial 2012