- Advance Auto Parts in Des Moines, IA: 7000 SF Advance Auto Parts built in 2006 on 1.44 ac lot at a busy corridor. 15 yrs NNN- corp lease with 8+ yrs left. NOI $117K/yr with a 10% rent bump in yr 11th. $1.561M. 7.5% cap.
- Pep Boys in Albuquerque, NM: 21,768 SF auto parts store center built in 1990 in middle class area. Across from Lowes, Petco and close to Cottonwood Mall. 100% absolute NNN lease with 10+ yrs left. NOI $310K/yr with 1.5% annual rent increases. $4.138M. 7.5% cap.
- KFC & Taco Bell in Tampa, FL: 3405 SF drive-thru dual branded fast food restaurant at a hard corner location near St. Joseph’s Children’s Hospital of Tampa and Tampa Buccaneers Stadium. Brand new 20 yrs absolute NNN lease to a strong operator with 171 units. NOI $117K/yr with 10% rent increases every 5 yrs. $1.808M. 6.5% cap.
- Wendy’s in Buffalo Grove, IL: 4089 SF Wendy’s restaurant on 1.27 ac lot at major retail corridor in affluent (AHI $104K/yr in 1 mile) Chicago metro. Tenant has been at this location since 1990. Across from Buffalo Grove Center, a 188,067 SF retail center anchored by Buffalo Grove Theaters.100% NNN ground lease with 2 yrs left (land is for sale, should tenant not renew the lease, the building will revert to landlord). NOI $69K/yr. $910K. 7.64% cap.
- Retail Center in Las Vegas, NV: 13,790 SF eight-units retail center constructed in 2006 on 1.65 ac lot in fast growing (992.61% pop growth since 2000) and high income area. At a main corridor and min from St Rose Dominican Hospital. 100% NNN leased with good tenant mixes, such as Dunkin Donuts and Firehouse Subs. NOI $253K/yr. $3.334M. 7.5% cap.
- MOB in Coral Springs, FL: 10,376 SF Class-B medical office building on .65 ac lot across from 182-bed Coral Springs Medical Center. 100% leased to NW Heart & Health Specialists (a HCA Subsidiary) with 3 yrs left. NOI $125K/yr with 3% annual rent increases. $1.3M. 9.61% cap.
© Transmercial 2012
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