02-11: Carl's Jr. Walgreen's, Burger King, Office Building, MOB

1. Strip Center in Lake Charles, LA: 8250 SF strip center built in 2008 on .71 ac lot in upper middle-class area. Adjacent to Prien Lake Mall and off/on ramp I-210. NNN leased to T-Mobile, Radio Shack and National Vision, Inc.  NOI $191K/yr. $2.183M. 8.75% cap.
2. MOB in Naples, FL: 15,534 SF Class A two-story medical office building constructed in 2001 on 1.27 ac lot anchored by Naples Women’s Center in fast growing and high income area. Next to 261-bed Naples Community Hospital. 93% leased. NOI $373K/yr. $4.975M. 7.50% cap.
3. Carl’s Jr. in Queen Creek, AZ: 3000 SF  newly constructed fast food restaurant on 1 ac outparcel to Walmart Supercenter  in  growing (692.14% growth since 2000) & in upper middle class area in Phoenix suburbs. 20 yrs NNN lease with 19+ yrs left to a strong franchisee with 144 units. NOI $199K/yr. $2.962M. 6.75% cap.
4. Neighborhood Center in Homewood, IL: 70,086 SF well maintained shopping center on 5.67 ac lot at a hard corner location in affluent (AHI $92K/yr) Chicago metro. Anchored by a 12,500 SF ACE Hardware, Panera Bread, and Bank of America.  Shadow anchored by Walgreens. 82% NNN leased. NOI $466K/yr. $5.8M. 8.04% cap. Upside potential when fully leased.
5. Walgreen’s in Mount Prospect, IL: 15,120 SF drug store built in 1999 on 2+ ac lot a hard corner location in affluent (AHI $112K/yr) Chicago suburbs. Near Rand Hurst Shopping Mall. 20 yrs NNN- lease with 6 yrs left. NOI $288K/yr. $3.84M. 7.50% cap.
6. Burger King in San Diego, CA: 3581 SF Burge King on .54 ac lot along main retail corridor and in upper middle class area. Close to 520,818 SF Genesee Plaza, anchored by Home Depot, Target, Marshalls, Albertsons and more. 100% NNN lease with 19 yrs left. NOI $114K/yr with 8% rent bumps every 5 yrs. $2.23M. 5.11% cap.
7. Retail Center in Tulsa, OK: 11,000 SF newly constructed retail center in fast growing (47.95%) and affluent (AHI $130K/yr in 1 mile) area. 100% leased to Sprint, Papa Jones Pizza and Chiropractor office. NOI $204K/yr. $2.7M. 7.56% cap.
8. Shopping Center in Clovis, CA: 48,770 SF shopping center remodeled in 2002 on 5.75 acres of land at a major retail corridor in high income Fresno suburbs (AHI $88K/yr in 1 mile). Anchored by CVS Pharmacy and shadow-anchored by Save Mart Supermarket. Close to Sierra Vista Mall. 98% NNN leased with just 1 small vacant unit. NOI $656K/yr. $9.25M. 7.10% cap.
9. Office Building in Fresno, CA: 40,221 SF well kept office building on 3 ac lot along major retail corridor. 93% leased to strong national & local tenants. NOI $338K/yr. $4.45M. 7.61% cap.

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