Monday, January 21, 2013

01-07: Burger King, Dollar Tree, Hilton Garden hotel, Walgreens, apartments


  1. Burger King in Klamath Falls, OR: 2824 SF restaurant on .92 ac lot just completed a $300K renovation to Burger King’s 20/20 New Look.  New 20 yrs absolute NNN lease.  NOI $90K/yr with 7% rent bumps every 5 yrs.  $1.35M. 6.67% cap. 
  2. Dollar Tree in Glendale, AZ: 12,500 SF Dollar Tree store in high income Phoenix metro.  Across from Safeway and Savers grocery.  100% NNN lease with 5 yrs left.  NOI $158K/yr.  $1.925M. 8.25% cap. 
  3. Hilton Garden Inn in Gilroy, CA: 137-room 4-story upscale hotel built in 2001 on 3 ac lot next to Hwy 101 exit 30 minutes South of high-tech Silicon Valley.  75% avg occupancy rate.  NOI $878K/yr. $15.5M. 
  4. Strip Mall in Omaha, NE: 11,250 SF retail center on .8 ac lot at an intersection.  Remodeled in 2011.  Shadow anchored by Gold Gym and across from a  supermarket.  100% NNN leased to 7 tenants.  NOI $102K/yr. $1.247M. 8.25% cap. 
  5. Shopping Center in Topeka, KS: 71,841 SF 22-unit mature shopping center on 6.12 ac lot in middle class area.  Anchored by 29,870 SF Apple Market grocery, a regional tenant with 28 locations in KS and MO.  88% leased with 3 vacant spaces.  Current NOI $305K/yr. $3.1M. 9.84% cap.
  6. Baymont Inn & Suites in Orlando, FL: 162-unit hotel on 3.88 ac lot near Florida Mall & easy access to Florida and Ronald Regan turnpikes.  Just 10 minutes from several demand-generators, including Universal Studios, Aquatica, Mall at Millenia, SeaWorld, Discovery Cove, Walt Disney World, Wet 'n Wild, Islands of Adventure, Florida Mall, and the Orlando International Airport. Amenities include swimming pool, gym and meeting room.  2012 gross income of $1.58M. $4.25M. 
  7. Apartments in San Jose, CA: 8-unit apartments on 2.3 ac lot in high income area near Westfield Valley Mall,  O’Connor Hospital and San Jose City college.  90% occupied.  NOI $85K/yr. $1.165M. 7.34% cap. 
  8. Walgreens in Holy Hills, FL; 13,905 SF Walgreens built in 1998 on 1.8 ac corner lot in Daytona Beach.  100% NNN lease with 16 yrs left.  NOI $242K/yr. $3.65M. 6.65% cap.

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