03-28: Lone Star Steakhouse, Advance Auto Parts, Old Country Buffet, Retail Centers for sale

1. Lone Star Steakhouse in Bourbonnais, IL: 5498 SF steakhouse restaurant built in 1996 on 1.58 ac outparcel to Target, Staples, Michaels, and Petsmart center in Chicago suburbs.  Across from 558,000 SF Northfield Square Mall and near I-57.  100% NNN lease with 12 yrs left.  NOI $201K/yr with 2% annual rent increases. $2.124M. 9.50% cap.
2. Office Building in Las Vegas, NV: 22,213 SF Class-B sixteen-suite office building constructed in 1999 on 1.64 ac lot as part of a professional business park. High income area.  71% leased. Current NOI $86K/yr. $1.699M. 5.1% cap. Upside potential when fully leased.
3. Advance Auto Parts in San Antonio, TX: 7056 SF Advance Auto Parts center built in 2007 on .80 ac lot along major retail corridor. Close to Walmart Supercenter. 100% NNN- corp lease with 9+ yrs left. NOI $143K/yr with a 10% rent increase in 2017. $2.1M. 6.84% cap.
4. Retail Center in Tucson, AZ: 10,445 SF retail center built in 2008 on .95 ac lot on a main thoroughfare. Next to Walgreen’s and close to I-10.  100% leased. NOI $163K/yr. $2.1M. 7.78% cap.
5. Old Country Buffet in Denver, CO: 8613 SF buffet restaurant built in 2002 on 1.44 ac lot in the middle of Quebec Square, a 4,700 acre mixed-use development. Close to 1,2000,000 SF Northfield Stapleton and I-270. 10 yrs absolute NNN lease to Old Country Buffet, owned by Buffets, Inc. with 347 locations in 35 states. NOI $264K/yr. $3.3M. 8% cap.
6. Apartments in Carmichael, CA: 73-units well maintained 1&2 bedroom apartment complex on 2+ ac lot in Sacramento suburbs. Close to schools, shopping centers and parks. 95% occupied. NOI $331K/yr. 4.307M. 7.70% cap.
7. Retail Center in Smyrna, GA: 17,045 SF attractive retail center built in 2002 on 1.68 ac lot at a hard corner location in fast growing and high income Atlanta metro. 100% leased with great tenant mix. $2.75M. NOI/Cap not disclosed.
8. Office Building in San Diego, CA: 16,800 SF well maintained office building on ½ ac corner lot. Close to I-805 and Hwy-163. 100% leased. NOI $278K/yr. $3.595M. 7.75% cap.
9. Retail Center in Las Vegas, NV: 15,050 SF retail center built in 2007 on 1.70 ac lot.  Shadow anchored by Walmart Neighborhood Market and next to Walgreens. NOI $283K/yr. $3.663M. 7.75% cap.

© Transmercial 2013