01-08: Rite Aid, Walgreens, shopping centers, Burger King, Steakhouse

1. Rite Aid in Renton, WA: 16,280 SF Rite Aid built in 2006 on 1.6 acres lot in Seattle metro with AHI of $92K/yr in 1 mile.  100% NNN- till 2026.  NOI $574K/yr. $6.684M. 8.35% cap.  WA has no state income taxes. Store with est. $6M in sales. 
2. Walgreens in Peoria, AZ: 14,420 SF Walgreens built in 1996 on 2.09 ac lot at an intersection of 2 major arteries in high income Phoenix metro (AHI of $72K/yr).  100% NNN- lease till 2017.  NOI $284K/yr. $3.246M. 8.75% cap.  Store with est. $5.5M in sales.   
3. Shopping Center in Palmdale, CA: 49,215 SF shopping center built in 2006 on 3+ ac lot in fast growing city in Los Angeles. Across from Palmdale Regional Medical Center and close to Antelope Valley Mall and Hwy-14.  100% leased to 4 tenants. NOI $747K/yr. $7.999M. 9.34% cap. 
4. Retail Center in Lancaster, CA: 6651 SF well maintained retail center on .42 ac lot in growing town just North of Los Angeles. Close to 420-bed Antelope Valley Hospital. 100% leased to liquor store, pawn shop and shoe store. NOI $82K/yr. $949K. 8.65% cap. 
5. Burger King in Ontario, CA: 3839 SF Burger King on .90 ac outparcel to Ontario Mills Outlet in San Bernardino Country. Across from Costco and near I-15/10. 100% NNN lease to strong franchisee (currently operating 70 units) with 17 yrs left. NOI $132K/yr with a 10% rent bump in March 2014. $2.6M. 5.08% cap. 
6. Retail Center in Humble, TX: 5276 SF retail center built in 2005 on 1.56 ac lot in growing and high income (AHI $103K/yr in 3 mil) Houston suburbs. 100% NNN leased to Starbucks Coffee, The Nailspot and Menchie’s Frozen Yogurt. $1.726M. NOI/Cap not provided. 
7. Retail Center in Atlanta, GA: 10,822 SF 8-unit retail center built in 2002 on 2+ ac lot.  Shadow-anchored by Kroger supermarkets in high income area. 90% NNN  leased with 1 avail unit. Current NOI $177K/yr. $2.185M. 8.1% actual cap. Upside potential when fully leased. 
8. Retail Center in La Quinta, CA: 6400 SF attractive retail building built in 2005 on .48 ac lot in affluent Riverside County with an AHI of $138K/yr within 1 mile. 100% NNN leased to El Mexicali Café and Louise’s Pantry. NOI $149K/yr. $1.785M. 8.36% cap. 
9. Arizona’s Steakhouse 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.  Tenant with 4 Arizona’s + 11 Travina Italian Restaurants. 100% NNN leased with 10 yrs left. NOI $246K/yr. with 2% annual rent bump. $3.2M. 7.70% Cap.

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