02-20: KFC, Walgreen's, Office Buildings, Shopping Centers

1. Shopping Center in Plano, TX: 50,479 SF well-maintained shopping center consisting of three buildings on nearly 5 ac lot at a signalized corner in high income (AHI $108K/yr in 1 mile) Dallas metro. Anchored by a 5,824 SF stand alone six-bay Firestone Tires. 93% NNN leased to 22 tenants including Firestone Tires on 5,824 SF free-standing building. NOI $413K/yr. $4.75M. 8.70% cap.
2. Strip Center in Saint Joseph, MO: 7956 SF attractive strip center built in 2007 in growing and high income (AHI $89K/yr) city. Outparcel to a shopping center anchored by Walmart, Home Depot, Target, Kohl’s, TJ Maxx and Best Buy. 100% NNN leased to Buffalo Wild Wings, Sprint and Allure Nails. NOI $193K/yr. $2.492M. 7.75% cap.
3. Shopping Center in Hartford, CT: 39,900 SF shopping center built in 2003 on 2.90 ac lot in densely populated city.  Anchored by Family Dollar and Save-A-Lot grocery. 100% leased. NOI $474K/yr. $6.322M. 7.75% cap,
4. KFC in Wichita Falls, TX: 3200 SF KFC restaurant built in 2010 on .94 ac outparcel to Walmart Supercenter. 15 yrs absolute NNN lease with 13+ years left to strong operator with 32 units. NOI $94K/yr with 7.5% rent increases every 5 yrs. $1.15M. 8.26% cap.
5. Apartments in Menlo Park, CA: 6-unit well kept apartment complex on .18 ac lot in a very wealthy (AHI $149K/yr in 3 mile radius) neighborhood which is home of Facebook, and Oracle headquarters. Close to hospitals, shopping centers and highways. 100% occupied. NOI $68K/yr. $1.149M. 6% cap.
6. Walgreen’s in Cincinnati, OH: 14,560 SF Walgreen’s pharmacy on 1.39 ac lot in affluent neighborhood with an AHI of $140K/yr in 1 mile. Across from Kroger grocery. 25 yrs NNN corp lease with 17 yrs left. NOI $335K/yr. $5.583M. 6% cap.
7. Walgreen’s in Palmetto, FL: 15,120 SF drive-thru established drug-store built in 2000 on 1.30 ac lot at a hard corner location in Tampa metro. 100% NNN leased with 7 yrs left. NOI $280K/yr. $3.5M. 8.02% cap.
8. Office Building in The Woodlands, TX: 95,973 SF Class-A 5-story office tower constructed in 1994 on 2+ ac lot in affluent (AHI $149K/yr) Houston suburbs. Near The Woodlands Mall & I-45. 100% leased to multiple tenants since 1999. 7.20% cap. NOI/Price not disclosed.
9. Office Building in Meridian, ID: 7132 SF Class-A office building constructed in 2007 on nearly 1 ac lot in fast growing Boise suburbs. Close to St Luke’s Meridian Medical Center.   100% NNN leased. NOI $64K/yr. $781K. 8.30% cap.

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