06-27: Office Buildings, Golden Corral, Apartments, Shopping Centers

Advisory:  Chinese investors pursue US commercial properties.  Click here for full article.  The Wall street Journal had a similar article yesterday.

1. Shopping Center in Miami, FL: 17,156 SF well maintained shopping center on over 1 ac corner lot adjacent to Power Center anchored by Kmart and Marshall’s. 100% NNN leased. NOI $256K/yr. $3.2M. 8.01% cap.
2. Office Building in Miami Gardens, FL: 38,000 SF Class-B office building on 1.34 ac corner lot. Across from Walmart Supercenter & close to Jackson North Medical Center. Easy access to I-95, Palmetto Expy & FL Turnpike. 98% leased. NOI $337K/yr. $4.5M. 7.50% cap.
3. Retail Building in Jamaica, NY: 6500 SF well maintained retail building at a corner lot location in densely populated Queens County with over 1,700,000 residents within 5 mile radius. 25 yrs NN lease with 6+ yrs left to CenterLight Health Systems. NOI $161K/yr. $2.087M. 7.75% cap.
4. Golden Corral in Dallas, TX: 9652 Golden Corral Buffet Restaurant built in 1997 on 1½ ac lot at a busy retail corridor & in high income area. Close to Dallas Medical Center, Cinemark 17 and IMAX Theatre and I-635. Newly executed 15 yrs NNN lease to one of the largest franchisees in the country. NOI $240K/yr. $3.428M. 7% cap.
5. Retail Center in Woodstock, IL: 13,915 SF retail center in fast growing and high income city just West of Chicago. Across from Walmart Supercenter. 89% NNN leased to Verizon Wireless, Benjamin Franklin, Anytime Fitness, Great Clips and Chiro One. NOI $225K/yr. $2.73M. 8.25% cap.
6. Retail Center in Rowlett, TX: 19,295 SF retail center renovated in 2000 on 1.64 ac lot in high income (AHI $89K/yr within 3 mile) Dallas suburbs. Next to ALDI grocery center. 100% NNN leased to eight tenants. NOI $209K/yr. $2.275M. 9.20% cap.
7. Apartments in San Jose, CA: 6-units well-kept apartment building in high income Silicon Valley with an AHI of $92K/yr in 3 mile. Close to schools, parks, Westfield Valley Fair, O’Connor Hospital and I-880. 100% occupied. NOI $50K/yr. $840K. 6.05% cap.
8. Shopping Center in Palm Springs, CA: 21,688 SF attractive shopping center built in 1990 on over 3 ac lot at a signalized corner location. Adjacent to Palm Springs Intl Airport. 93% leased. NOI $201K/yr. $2.8M. 7.20% cap.

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