Tuesday, February 5, 2013

01-22: Harps Grocery, Office Buildings, Rally's Drive In, Retail Buildings



  1. Retail Center in Baytown, TX: 5000 SF retail center built in 1999 on .34 ac outparcel to 1.2M SF San Jacinto Mall in fast growing Houston suburbs. 100% NNN leased to Vision Maxx and Nails Pro Spar & Tan. NOI $90K/yr. $1.1M. 8.18% cap.
  2. Retail Center in Murrells Inlet, SC: 10,800 SF retail center built in 2004 on .79 ac lot in a growing and high income coastal city South of Myrtle Beach. Across from Inlet Square Mall. 100% NNN leased to West Marine, Rubio’s Barbershop, Darden’s Jeweler’ and T-Mobile. NOI $117K/yr. $1.385M. 8.50% cap.
  3. Retail Building in New Albany, IN: 39,820 SF recently remodeled retail building on 3 ac lot at main corridor In Louisville suburbs In front of The Home Depot and next to Target. Close to183-bed Floyd Memorial Hospital and I-265. 100% NNN leased to solid regional & national tenants. NOI $312K/yr. $3.91M. 8% cap.
  4. Shopping Center in Oxnard, CA: 65,650 SF shopping center built in 2008 anchored by 24 Hour Fitness. At a hard corner location in affluent (AHI $90K/yr) coastal city in Southern California. 85% NNN leased. NOI $1.236M/yr. $18.3M. 6.76% cap. Upside potential.
  5. Harps Grocery in Jonesboro, AR: 31,500 SF Harps Grocery built in 2011 on 6.50 ac lot at a signalized intersection in growing & high income area. 100% absolute NNN lease with 19 yrs left to growing chain with 68 units in AR, OK & MO. NOI $408K/yr. $6.045M. 6.75% cap.
  6. Office Building in Mesa, AZ: 53,823 SF Class A office building across from Superstition Springs Mall and off Hwy-60. 89% leased. NOI $613K/yr. $7.75M. 7.92% cap.
  7. Retail Buildings in Monrovia, CA: 4683 SF consisting of two retail building constructed in 1992 on .66 ac corner lot in densely populated Los Angeles suburbs. Across from Albertsons, near Walmart, Target and I-210. 100% NNN leased to Wienershnitzel and Oil Stop. NOI $120K/yr. $1.995M. 6% cap.
  8. Rally’s Drive In Restaurant in Madera, CA: 963 SF drive in restaurant built in 1992 on .39 ac outparcel to Food 4 Less center and across from Walmart center. 100% NNN lease to experienced franchisee. NOI $53K/yr with 2% annual rent increases. $763K. 7% cap.

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