04-26: CVS, Rite Aid, Greulichs Auto Service, Just Brakes, MOB, Apartments

1. CVS in Waterford, MI: 14,884 SF  drug store with double drive-thru on 2+ ac lot in upper middle-class Detroit suburbs. Along major corridor. 25 yrs absolute NNN corp lease with 21 yrs left. NOI $380K/yr. $6.338M. 6% cap.
2. Retail Center in Lancaster, CA: 6651 SF well kept 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. $917K. 9% cap.
3. Rite Aid in Pittsburgh, PA: 10,908 SF Rite Aid pharmacy built in 1994 on 1.42 ac lot at a busy thoroughfare. 20 yrs NNN- corp lease with 6 yrs left. NOI $300K/yr with a rent increase in 2014. NOI $298K/yr. $3.3M. 9.04% cap.
4. Office/MOB in San Antonio, TX: 53,516 SF well maintained complex consisting of seven  office/medical office building on 4.49 ac lot close to Methodist Texas Hospital and I-410. 86% leased. NOI $528K/yr. $6.5M, 8.13% cap.
5. Greulichs Auto Service in Gilbert, AZ: 4892 SF eight-bay auto repair center built in 2000 on .47 ac lot in affluent (AHI $108K/yr) Phoenix suburbs. 20 yrs absolute NNN ground lease with 8 yrs left to a regional tenant with 11 locations. NOI $141K/yr with 2.5% annual rent bumps. $1.899M. 7.40% cap.
6. Just Brakes in Arlington, TX: 5382 SF single-tenant retail building constructed in 2008 on .93 ac lot in Dallas metro. 15 yrs NNN corp lease with 10 yrs left. NOI $127K/yr with rent bumps in yrs 5 & 10. $1.45M. 8.80% cap.
7. Apartments in Fresno, CA: 24-units consisting of four multifamily buildings in fast growing area. Close to schools, shopping centers and Fwy-41. 100% occupancy. NOI $94K/yr. $1.495M. 6.34% cap.
8. MOB in Oak Lawn, IL: 8443 SF Class-B medical office building on .76 ac lot in densely populated Chicago suburbs. 100% NNN corp lease to Advocate Health & Hospitals, one of 15 Top Health Systems in the US for the 5-th time by Truven Health Analytics. NOI $218K/yr. $2.8M. 7.80% cap.
9. Office Building in Fresno, CA: 7200 SF Class-B office building along major corridor. Close to Fashion Fair Mall and Fwy-41. 100% leased to multiple tenants. NOI $74K/yr. $975K. 7.60% cap.

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