05-14: Rite Aid, IHOP, Meineke Auto Center, Spec's Liquor, Retail Centers

1. Strip Center in Indianapolis, IN: 4775 SF strip center built in 2010 on .61 ac outparcel to Walmart Supercenter in and off/on ramp to I-65. 100% NNN leased to T-Mobile and GNC. NOI $126K/yr. $1.35M. 9.39% cap.
2. Retail Center in Augusta, GA: 8960 SF attractive retail center on 1+ ac lot at a signalized intersection in a growing area. Between 1.1M SF recently re-developed Augusta Mall and TJ-maxx/Ross center. Close to I-520. 100% NNN leased to Starbucks, AT&T, Firehouse Subs and Rhodes Murphy Tax. NOI $273K/yr. $3.415M. 8% cap.
3. Retail Building in La Quinta, CA: 6,400 SF retail building on .48 ac lot in affluent Riverside County with an AHI of $138K/yr within 1 mile. 100% NNN leased to El Mexicali Café and Louise’s Pantry. NOI $150K/yr. $1.67M. 9% cap.
4. REO’ed Retail Center in Algonquin, IL: 28,626 SF bank-owned retail center built in 2007 on 4+ ac outparcel to 600,000 SF 80+ stores  Algonquin Commons in affluent (AHI $148K/yr) Chicago suburbs. Across from Walmart Supercenter. 67% leased. NOI $371K/yr. $4.89M. 7.60% cap.
5. Rite Aid in Highland Township, MI: 11,170 SF Rite Aid pharmacy on 1.75 ac lot at a hard corner location & in high income Detroit suburbs. 100% NNN- leased with 7 yrs left. NOI $369K/yr. $3.695M. 10% cap.
6. DaVita in Florence, SC: brand new 8,700 SF DaVita Dialysis center on .99 ac lot in a fast growing & middle-class city. Close to 420-bed Carolina’s Hospital.  15 yrs NNN- lease. NOI $136K/yr with 10% rent bumps every 5 yrs. $2.02M. 6.75% cap.
7. IHOP in Lilburn, GA: 5157 SF restaurant built in 2008 on 1.34 acres lot outparcel to Walmart Supercenter and Home Depot in fast growing Atlanta metro. 20 yrs absolute NNN lease to a strong franchisee with 65 locations. NOI $172K/yr with 5% rent bumps every 5 yrs. $2.661M. 6.50% cap.
8. MOB in Columbus, OH: 11,214 SF Class-B consisting of two modern medical office buildings close to I-270.  100% NNN leased. NOI $149K/yr. $1.658M. 9% cap.
9. Meineke Econo Lube Center in Yuma, AZ: 2496 SF auto service center at a busy corridor close to I-8. 100% NNN leased with 5 yrs left. NOI $69K/yr. $775K. 9% cap.
10. Spec’s Liquor in Brownsville, TX: 3,900 SF 5 yrs-old liquor store at a major retail artery in a high growth border city. 100% NNN leased with 10 yrs left to regional tenant. NOI $84K/yr. $1.05M. 8% cap.

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