06-19: Red Robin, Pizza Hut, Shopping Centers

1. Red Robin in Cordova, TN: 6381 SF Red Robin Restaurant built in 2007 on 1.68 ac lot at a major retail corridor in high income Memphis suburbs. 15 yrs absolute NNN corp ground lease (land for sale) with 9 yrs left. NOI $137K/yr with 10% rent bumps every 5 yrs. $1.964M. 7% cap.
2. Shopping Center in Colorado Springs, CO: 27,017 SF attractive shopping center on 4+ ac lot.  Shadow anchored by King Soopers, a regional grocery chain. Close to I-25. 94% leased to sixteen tenants. NOI $591K/yr. $8.453M. 7% cap.
3. Pizza Hut & Wing Street in Los Angeles, CA: 1800 SF dual branded fast food restaurant at a corner location in densely populated area. Next to Big Lots an across from The Home Depot, Food 4 Less and Walgreens center. 100% NNN absolute NNN lease with 7 yrs left to a strong operator with 222 units. NOI $52K/yr with 10% rent bumps every 5 yrs. $740K. 7.03% cap.
4. Retail Center in Milwaukee, WI: 9477 SF well maintained retail center near close to I-43 and I-94. 100% NNN leased with long tern tenants. NOI $79K/yr. $935K. 8.50% cap.
5. Shopping Center in Lehigh Acres, FL: 25,000 SF shopping center built in 2006 on 3.26 ac lot along major corridor in fat growing Fort Myers suburbs. 100% NNN since 2006.  NOI $480K/yr $6M. 8% cap.
6. Shopping Center in Baltimore, MD: 21,399 SF upscale retail center constructed in 2006 in upper middle class area.  90% leased.  NOI $539K/yr. $6.5M. 8.3% cap.
7. Shopping Center in Clermont, FL: 30.214 SF 5-yrs old upscale shopping center in Orlando metro.  Shadow anchored by Lowes.  Tenants include  AT&T, Firehouse Subs, The Vitamin Shoppe, Mattress One, Robata Japanese Steakhouse, CFE Credit Union, Key Heath Pharmacy (a compounding pharmacy), and Massage Envy.  NOI $665K/yr. $8.3M. 8.03% cap.
8. Office Building in Salinas, CA: 10,000 SF 3-story office building just 4 blocks from courthouse, and Steinbeck museum.  85% occupied.  NOI $67K/yr. $895K. 7.5% cap.
9. Retail Plaza in Evansville, IN: 24,589 SF retail plaza.  Shadow anchored by Walmart and Home Depot. 100% NNN leased to 8 tenants including Buffalo Wild Wings, Fantastic Sams, Cold Stone Creamery.  NOI $329K/yr. $4.25M. 7.75% cap.

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