03-11: Pier 1 Imports, KFC, Wendy's, MOB, Retail/Office complex

1. Pier 1 Imports in Lake Charles, LA: 9460 SF single tenant retail building constructed in 2002 on 1 ac outparcel to Prien Lake Mall and off/on ramp I-210. 100% NNN- lease with 9+ yrs left. NOI $171K/yr with 10% rent bumps every 5 yrs. $2.443M. 7% cap.
2. Medical & Professional Building in Cypress, TX: 24,616 SF Class-A building constructed in 2006 in fast growing and high income (AHI $112K/yr in 3 mile radius) Houston suburbs. 100% NNN leased to strong medical & professional tenants. NOI $487K/yr. $6.5M. 7.50% cap.
3. Retail Center in Sausalito, CA: 9766 SF consisting of two well maintained retail buildings on .48 ac lot in high income (AHI $161K/yr in 3 mile) and stable city North of San Francisco. Close to Hwy-101. 92% leased to Dario’s Pizza, Hairstylist, Nail salon, Esthetician, Permanent makeup and offices. NOI $136K/yr. $2.6M. 5.30% cap.
4. Retail/Office Center in Sunnyvale, CA: 51,000 SF consisting of 3 buildings; 2 single story retail buildings and 1 two-story retail/office building on 3.72 ac lot with frontage on Lawrence Expy, a prime corridor. Excellent demographics: AHI of $101K/yr within 2 miles in Silicon Valley. High barrier to entry. 85% leased. NOI $633K/yr. $12.5M. 5.07% cap.
5. KFC in Summerville, SC: 2686 SF attractive KFC restaurant on .89 ac lot at main retail corridor in North Charleston suburbs. New 20 yrs NNN lease to an experienced franchisee with 10 units. NOI $75K/yr with 10% rent increases every 5 yrs. $1.115M. 6.75% cap.
6. Golden Corral in McKinney, TX: 9934 Golden Corral Buffet Restaurant built in 1999 on 1.68 ac lot next to & visible to Hwy-121/75. In fast growing and high income (AHI $89K/yr) Dallas suburbs. New 15 yrs absolute NNN lease to largest franchisee with over 380 units. This is a sale leaseback investment.  NOI $190K/yr with 10% rent increases every 5 yrs. $2.375M. 8% cap.
7. Wendy’s in Tampa, FL: 3600 SF Wendy’s restaurant on .86 ac lot at major retail corridor. Across from Sweetbay Supermarket center. 100% NNN corp ground lease (land is for sale) with 8+ left. NOI $75K/yr with 10% rent bumps every 5 yrs. $1.215M. 6.20% cap.
8. MOB in Louisville, KY: 26,302 SF Class B medical office building on 2+ ac lot in densely populated and upper middle class neighborhood. Next to I-264, near 373-bed Norton Suburban Hospital, 150-bed Baptist Hospital East and I-64.  100% NNN leased to medical tenants. NOI $288K/yr. $3.395M. 8.50% cap.
9. Retail Building in Gilbert, AZ: 6501 SF attractive retail building constructed in 1998 on 1.31 ac lot in high income Phoenix suburbs. 100% NNN leased to Brugger’s Bagels and Arizona Wilderness Brewing. $1.25M. NOI/Cap not provided.

© Transmercial 2013