06-07: Precision Collision, Jiffy Lube, Verizon Wireless, LA Fitness, Denny's

1. Precision Collision in Issaquah, WA: 7002 SF well kept auto repair center remodeled in 1994 at a busy corridor in growing and affluent Seattle suburbs. Close to Swedish Medical Center and I-90.  Recently executed 10 yr NNN- corp lease to ABRA Auto Body & Glass with 172 stations nationwide. NOI $127K/yr with 8% rent bump in 5 yrs. $1.83M. 7% cap.
2. Apartments in Rancho Cordova, CA: 96-unit apartment complex on nearly 4 ac lot in growing Sacramento suburbs. Amenities include: controlled access gate, swimming pool and laundry facility. Close to parks, shopping centers, hospital and Hwy-50. 90% occupied. NOI $300K/yr. $5M. 6% cap.
3. Jiffy Lube in Peoria, AZ: 3584 SF three-bay auto center built in 1997 in densely populated Phoenix metro. 15 yrs absolute NNN lease with 9 yrs left to strong operator with 50 units. NOI $105K/yr with 10% rent increases every 5 yrs. $1.325M. 8% cap.
4. Retail Center in Las Vegas, NV: 10,742 SF attractive retail center built in 2007 on ½ ac lot with easy ingress/egress. 100% NNN leased to five tenants. NOI $150K/yr. $1.999M. 7.50% cap.
5. Strip Center in Las Vegas, NV: 5,099SF well maintained strip center at a hard corner location in fast growing area. Close to I-515. 100% leased to Check City, Smoke Shop, Text & Web Wireless, Golden Cake and El Compita. NOI $66K/yr. Only $799K. 8.29% cap. Great for 1^st time investors.
6. Office Building in Santa Rosa, CA: 41,520 SF Class-B office buildings in middle class area North of San Francisco. Close to Coddingtown Mall and Hwy-101. 100% leased to six tenants. NOI $549K/yr. $6.4M. 8.59% cap.
7. Verizon Wireless in Indianapolis, IN: brand new 2,433 SF Verizon Wireless on .80 ac lot in upper middle-class area. Across from Kroger grocery center.  New 10 yr NNN- lease to the largest Verizon Wireless franchisee in the U.S. NOI $116K/yr with 10% rent bumps every 5 yrs. $1.6M. 7.26% cap.
8. LA Fitness in Houston, TX: 45,000 SF newly constructed fitness center on 3+ ac lot along main retail corridor in high income area. Across from 162,000 SF Wooldlake Shopping Center. New 15 yrs NNN lease. NOI $900K/yr with rent bumps every 5 yrs. $12.413M. 7.25% cap.
9. Denny’s in North Pekin, IL: 4700 SF Denny’s restaurant on 2.39 ac lot in growing Peoria suburbs. 100% lease to a long term operator. Near I-474. $1.95M. 10% cap.
10. Retail Center in Fresno, CA: 20,000 SF attractive retail center on 3 ac lot at a hard corner location. 90% NNN leased. NOI $245K/yr. $3.5M. 7% cap.

© Transmercial 2013