01-24: Applebee's, MOB, Jack in the Box, Shopping Centers

1. Shopping Center in Tucson, AZ: 61,845 SF shopping center renovated in 2003 on 4.84 ac lot at a major corridor. Close to 60-bed Healthsouth Rehab Hospital Southern AZ and I-10. 100% NNN leased. NOI $915K/yr. $9.94M. 8.91% cap.
2. Applebee’s Restaurant in Saint Augustine, FL: 5766 SF Applebee’s restaurant built in 1993 on 1.39 ac lot at major retail corridor and close to 316-bed Flagler Hospital. New 20-yrs NNN lease to strong franchisee with 41 units. NOI $230K/yr with rent increases every 5 yrs. $3.066M. 7.50% cap.
3. MOB in Ontario, CA: 13,985 SF Class-A state-of-the art medical office building on 2+ ac lot in densely populated San Bernardino County. Close to I-10. Tenant has been at this location since 2003. 100% NNN lease to Four Seasons Surgery Center with 15 yrs left. NOI $530K/yr with 3% annual rent increases. $6.625M. 8% cap. 
4. Shopping Center in Gilbert, AZ: 14,878 SF shopping center built in 2006 on 2.71 ac lot in high income area. Shadow anchored by 99 Cents Only. 100% leased to SW Dental Group, JL Nails, East Valley Animal Hospital, Gilbert Center for Family Medicine and Maddy’s Pool Supply. NOI $265K/yr. $3.537M. 7.50% cap.
5. Applebee’s in Roanoke, VA: 5127 SF Applebee’s restaurant built in 2006 on 1.44 ac outparcel to Walmart and Lowe’s in high income (AHI $89K/yr) area. Next to Hwy-460. 100% NNN leased. NOI $216K/yr. $3.05M. 7.10% cap.
6. Restaurants in Roswell, GA: 6519 SF consisting of two free-standing restaurants built in1995 on 2+ ac lot at busy thoroughfare. Close to Roswell Town Center anchored by several big box retailers and Hwy-400. 100% NNN lease to Taco Bell (corp ground lease with 15 yrs left) and Peachtree Diner. NOI $160K/yr. $1.975M. 8.10% cap.
7. Jack in the Box in Charlotte, NC: 2811 SF drive-thru fast food restaurant built in 2001 on 1.35 ac lot off/on ramp I-77. Close to Camp Wilderness Resort. 100% absolute NNN corp lease with 6 yrs left. NOI $150K/yr with 10% rent bumps every 5 yrs. $1.671M. 9% cap.
8. Shopping Center in Sunrise, FL: 42,480 SF well maintained shopping center on 5 acres of land in Fort Lauderdale suburbs. 75% leased. NOI $345K/yr. $3.95M, 8.75% cap.

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