02-01: Denny's, Wendy's, Golden Corral, Jack in the Box, KFC, Shopping Centers, MOB

1. Denny’s in Round Rock, TX: 5000 SF Denny’s restaurant at a hard corner location with tall Pylon sign on a pad site to Target anchored center. Across from1,102,805 SF  Lakeline Mall and next to Hwy-183. New 15-yrs absolute NNN lease. NOI $144K/yr with 2% annual rent increases. $2.057M. 7% cap. Store with strong $1.6M in sales and $300K in profits.
2. Wendy’s in Jacksonville, FL: 3242 SF brand new Wendy’s restaurant on 1+ ac lot on/off ramp I-295. New 20 yrs absolute NNN lease to strong operator with 90 units. NOI $106K/yr with 5% rent increases every 5 yrs. $1.63M. 6.50% cap.
3. Golden Corral in Franklin, TN: 12,136 SF Golden Corral Buffet Restaurant on nearly 3 ac lot in prosperous (AHI $119K/yr) Nashville suburbs. Adjacent to Lowe’s anchored Power Center and next to I-65. Close to Capella Healthcare and CoolSprings Galleria Mall. 20yrs NNN lease with 13 yrs left. NOI $268K/yr with annual rent increases. $3M. 8.95% cap.
4. MOB/Office Building in San Antonio, TX: 53,516 SF well maintained office building on 4.49 ac lot close to St Luke’s Baptist Hospital, Methodist Hospital, Crossroads Mall and I-410. 86% leased. Proforma NOI $528K/yr. $6.5M. 8.13% proforma cap.
5. Office Building in Fort Wayne, IN: 22,200 SF Class-A office building constructed in 2005 in a growing area. Close to I-69. 100% NNN leased to strong tenants. NOI $257K/yr. $2.5M. 10.30% cap.
6. Retail Center in Imperial Beach, CA: 3650 SF attractive recently renovated retail center on .25 ac lot in Southern California. 100% leased. NOI $55K/yr. $755K. 7.28% cap.
7. Jack In The Box in San Antonio, TX: 2364 SF drive-thru fast food restaurant built in 1998 on .78 ac lot at a signalized corner location. 10% absolute NNN corp ground lease (land is for sale) with 3+ yrs left. NOI $112K/yr with a CPI rent bump in 8/3013. $1.664M. 6.75% cap.
8. KFC in Omaha, NE: 2561 SF newly constructed KFC restaurant on .88 ac lot at a major retail artery in fast growing and high income area with an AHI of $111K in 1 mile. Between Target and Alegent Health Lakeside Hospital. Brand new 20 yrs absolute NNN lease. NOI $72K/yr with 10% rent bumps every 5 yrs. $1.108M. 6.50% cap.
9. Shopping Center in Lisle, IL: 21,939 SF attractive shopping center at a busy road in high income Chicago suburbs. All tenant face main thoroughfare. 89% leased to great tenant mix. NOI $381K/yr. $3.536M. 9% cap. Upside potential.
10. Retail Center in Palm Coast, FL: 17,478 SF attractive retail center on 2+ ac lot in front of Home Depot, across from Walmart Supercenter, Lowe’s and near I-95. 100% NNN leased. NOI $348K/yr. $4.102M. 8.50% cap.

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