04-04: PepBoys, Pet Supermarket, Strip Center, Retail Centers

1. PepBoys Auto (S&P B) in Titusville, FL: 5546 SF auto & parts center built in 2013 on 1+ ac lot along Hwy-50. Across from Walmart Supercenter, adjacent to Lowe’s, Home Depot and Target center. Close to I-95. 10 yrs absolute NNN corp lease. NOI $99K/yr with 8% rent bumps every 5 yrs. $1.477M. 6.75% cap.
2. Neighborhood Center in Lauderhill, FL: 110,000 regional center on 10 acres of land at a hard corner location in Fort Lauderdale metro. 78% NNN leased. NOI $980K/yr. $14M. 7% cap.
3. Pet Supermarket in Charlotte, NC: 13,000 SF well maintained retail building constructed in 1995 on 1+ ac lot along major thoroughfare in fast growing area. 100% NNN lease with 4 yrs left to Pet Supermarket, a regional tenant with 130 locations. NOI $123K/yr with 10.5% rent increase in 2014. $1.522M. 8.11% cap.
4. Strip Center in Los Angeles, CA: 6797 SF L-shaped strip center on .27 ac lot in densely populated area with over 1,000,000 residents in 5 mile radius. Next to Jack in the Box. 100% leased. NOI $99K/yr. $1.25M. 7.92% cap.
5. Retail Buildings in Charlotte, NC: 12,058 SF consisting of two attractive retail buildings completed in 2001 on 2+ ac corner lot along Hwy-24. Close to University of North Carolina. 71% leased. NOI $84K/yr. $1.05M. 8% cap. Upside potential.
6. Retail Center in Charlotte, NC: 7650 SF well kept retail center built in 1996 on 1.58 ac lot in growing and high (AHI $105K/yr in 3 mile) income area. Close to major shopping centers, Hospital and I-485. 100% NNN leased to Chipotle, and Kabuto Restaurant. NOI $229K/yr. $2.7M. 8.49% cap.
7. Strip Center in South Gate, CA: 10,702 SF well-maintained strip center at a busy signalized corner location in Southern California. 100% leased. NOI $149K/yr. $1.548M. 7.50% cap.
8. Retail & Office Building in Midwest City, OK: 16,080 SF attractive office & retail center constructed in 2008 on 2.26 ac lot in Oklahoma City suburbs. Tenants include Midwest Regional Hospital, Mercy Physicians of Oklahoma, and Oklahoma City Abstract and Title. NOI $172K/yr. $3.2M. 5.38% cap.

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