Tuesday, March 5, 2013

02-19: Apartments, Church's Chicken, Shopping Centers



  1. Apartments in Fresno, CA: 57-units well maintained apartment complex on 2+ ac lot. Recent upgrades include: 22-units completely remodeled, new stucco and paint, renovated laundry room and resurface pool. Next to Hwy-168 and close to shopping centers. High Occupancy. NOI $116K/yr. $1.495M. 7.81% cap. Upside potential.
  2. Shopping Center in St. Petersburg, FL: 33,147 SF well maintained shopping center on 3+ ac lot at a signalized corner location. Anchored by a 14,324 SF Save-A-Lot grocery (regional tenant with over 1200 stores). 84% NNN leased. NOI $199K/yr. $2.45M. 8.13% cap. Upside potential when fully leased.
  3. Strip Center in Lancaster, CA: 6651 SF retail center on .42 ac lot in growing town just North of Los Angeles. 100% leased to liquor store, pawn shop and shoes store. NOI $82K/yr. $949K. 8.70% cap.
  4. Church’s Chicken in Wichita, KS: 1345 SF Church’s Chicken on .32 ac lot adjacent to 300-bed Via Christi Hospital. 100% NNN leased with 11 yrs left. NOI $50K/yr. $760K. 6.67% cap.
  5. Shopping Center in Indianapolis, IN: 66,470 SF shopping center anchored by Kroger grocery with huge monument sign along main corridor. Close to I-74. 100% leased to mostly national tenants. NOI $413K/yr. $5.5M. 7.51% cap.
  6. Apartments in Fresno, CA: 51-units well maintained two-bedroom apartments built in 1977. Across from Sunnyside High School and near shopping centers. 98% occupancy. Proforma NOI $203K/yr. $3.195M. 7.77% cap.
  7. Shopping Center in Katy, TX: 26,355 SF shopping center on 3.5 acres of land in fast growing & affluent area with an AHI of $160K/yr in 1 mile. 97% leased with only one small vacant unit. NOI $407K/yr. $5M. 8.15% cap.
  8. Shopping Center in Grove City, OH: 58,216 SF shopping center built in 1996 on 8.20 ac lot in growing Columbus suburbs. Close to I-71. 97% leased. NOI $520K/yr. $5.85M. 8.90% cap.

© Transmercial 2013

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