05-08: Bikinis Sport Bar & Grill, DaVita, Denny's, Dollar General, MOB

1. Bikinis Sports Bar & Grill in Lubbock, TX: 5000 SF sports bar restaurant built in 2002 on .88 ac outparcel to Cinemark Tinseltown Theatre in growing area. Just minutes from Texas Tech University, with 30,000+ students enrolled. Close to Hwy-289. 10 yrs NNN- lease with 9+ yrs left to a private company with 12 units. NOI $135K/yr with 10% rent bumps every 5 yrs. $1.543M. 8.75% cap.
2. DaVita in Dixon, CA: 5525 SF dialysis center built in 2006 on 1.69 ac lot in a high income (AHI $92K/yr) town between San Francisco and Sacramento. Visible and with easy access to I-80. 100% NNN corp lease with 6 yrs left. NOI $145K/yr with annual CPI rent increases. $2.275M. 6.38% cap.
3. Apartments in Austin, TX: 200-units well kept multifamily apartment on 10 acres of land in fast growing and middle-class area. Close to parks, schools, shopping centers and public transportation. 96% occupied. 8.87% cap. Price/NOI not disclosed.
4. MOB in Wichita, KS: 32,540 SF Class-A medical office building constructed in 2006 on 4 ac lot in growing and affluent neighborhood with an AHI of $126K/yr within 1 mile radius. 12 yrs NNN- lease with 5+ yrs left to Via Christi Clinic, the largest multi-specialty group practice in KS with 15 locations.  NOI $666K/yr. $8.1M. 8.23% cap.
5. Retail Center in Kennesaw, GA: 56,856 SF attractive retail center at a major retail corridor in fast growing and high income (AHI $84K/yr) Atlanta suburbs. Across from Lowe’s and close to Target, Home Depot and Kohl’s centers. 86% leased. NOI $547K/yr. $7.4M. 7.40% cap.
6. Retail Center in Saint Joseph, MO: 7,956 SF attractive strip center built in 2007 in high income (AHI $89K/yr) city. Outparcel to a shopping center anchored by Walmart, Home Depot, Target, Kohl’s and Best Buy. 100% NNN leased to Buffalo Wild Wings, Sprint and Allure Nails. NOI $195K/yr. $2.441M. 8% cap.
7. Denny’s in Meridian, CO: 4300 SF newly constructed Denny’s restaurant on .99 ac lot in booming (1,694.56% pop growth since 2000) and high income Denver suburbs. Minutes from Meridian Business Park, with 2,100+ employees. Close to Sky Ridge Medical Center and I-25. 20 yrs absolute NNN lease to a strong franchisee. This is a sale & leaseback investment which means everything is negotiable. NOI $126K/yr with 10% rent bumps every 5 yrs. $2M. 6.30% cap.
8. Office Building in Crystal Lake, IL: 20,800 SF Class-A office building on 1+ ac lot in growing and affluent (AHI $102K/yr in 3 mile) Chicago suburbs. 74% leased. NOI $110K/yr. $1.25M. 8.80% cap. Upside potential.
9. Apartments in Bakersfield, CA: 96-units 1, 2 & 3 bedroom apartments complex on 4+ ac lot. Amenities include: swimming pool, spa, community room, carport and on-site manager’s office. 100% occupied. Proforma NOI $541K/yr. $7.5M. 7.22% proforma cap.
10. Dollar General in Memphis, TN: 9014 SF retail building constructed in 2004 on .70 ac lot in upper middle class area. 100% NNN lease with 6 yrs left. NOI $58K/yr. $720K. 8.17% cap.  

© Transmercial 2013