05-09: Starbucks Coffee, Total Wine & More, Just Brakes, MOB

1. Starbucks in Springfield, MO: 2157 SF Starbucks Coffee built in 2003 on .57 ac lot along main retail corridor. Close to Missouri State University. 100% NNN corp lease. NOI $104K/yr with 10% rent bumps every 5 yrs. $1.343M. 7.75% cap.
2. Total Wine & More in Viera, FL: brand new 20,784 SF liquor store on 2.32 ac outparcel to 525,000 SF The Avenue Viera shopping center in high income (AHI $92K/yr in 3 mile) coastal city West of Orlando. Close to I-95.  10 yrs NNN lease to Total Wine & More, with 85 stores in 15 States. NOI $432K/yr with rent bumps every 5 yrs. $6.176M. 7% cap.
3. Shopping Center in Topeka, KS: 37,500 SF well maintained shopping center anchored by 18,000 SF Goodwill store. Close to Westridge Mall and I-470. Other tenants include: Going Bonkers, Cellular 4 Less, Bella Salon and Mattress Hub. 91% NN leased. NOI $312K/yr. $3.365M. 9.29% cap.
4. Retail Center in Chattanooga, TN: 6515 SF strip center built in 2007 on .47 ac lot in fast growing and high income (AHI $76K/yr) area. Close to Hamilton Place Mall, with 200+ stores and I-75. 100% NNN leased to FedEx, T-Mobile, Gigi’s Cupcakes and CPR. NOI $162K/yr. $1.985M. 8.20% cap.
5. Inline Center in Lakeside, CA: 13,505 SF retail center on .98 ac lot in middle-class San Diego suburbs. Shadow anchored by Rite Aid. 75% leased to Subway, The UPS Store, H & R Block, Fantastic Sam’s and Bank of America Kiosk. NOI $337K/yr. $4.09M. 8.24% cap. Upside potential.
6. Retail Center in Omaha, NE: 15,991 SF retail center built in 2006 on 1.51 ac lot in fast growing (231.89% pop growth) and affluent neighborhood with an AHI of $114K/yr within 1 mile. Next to Walgreens and across from Hy-Vee grocery center. 89% leased. NOI $199K/yr. $2.495M. 8% cap.
7. Neighborhood Center in Carmichael, CA: 50,410 SF well maintained shopping center renovated in 2003 on 5+ ac lot at a busy signalized intersection in affluent (AHI $127K/yr) Sacramento suburbs. Anchored by 24,900 SF 24-Hour Fitness. 92% leased to 12 tenants. NOI $928K/yr. $13.2M. 7.04% cap. Upside potential when fully occupied.
8. Just Brakes in Fort Worth, TX: 3873 SF auto service center built in 2008 on .46 ac lot at a major retail corridor and in fast growing area. Across from Home Depot, near Walmart Supercenter and I-820. 15 yrs absolute NNN lease with 10 yrs left. NOI $108K/yr with 10% rent increases every 5 yrs. $1.499M. 7.25% cap.
9. Office Building in Las Vegas, NV: 10,000 SF Class-A office building on .69 ac lot in growing and well off neighborhood with an AHI of $113K/yr. 100% leased to three tenants. NOI $123K/yr. $1.680M. 7.35% cap.
10. MOB in Chandler, AR: 26,860 SF Class-B medical office buildings anchored by a 10,080 SF national outpatient surgery center. Close to Banner Desert Medical Center, Cardon Children’s Medical Center and Chandler Regional Hospital. 100% leased. NOI $509K/yr. $5.11M. 7.20% cap.

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