07-11: Hooters, Mixed-Use, Restaurants, Retail Centers

1. Retail Center in Orlando, FL: 11,203 SF attractive retail center built in 2008 on 1.55 ac lot in fast growing area. Minutes from Walt Disney World and near I-4. 100% leased to Starbucks, Cell Phone Outlet, Gift Shop, Canon Outlet, Tennis Pizza and Subway. NOI $254K/yr. $3.3M. 7.72% cap.
2. MOB in New Braunfels, TX: 19,120 SF Class-A single-tenant medical office building in fast growing and upper middle-class area Northeast of San Antonio. This is a sale/leaseback investment. Proposed 5 yrs NNN lease. NOI $252K/yr. $2.8M. 9% cap.
3. Restaurant in Victorville, CA: 2,000 SF drive-thru restaurant renovated in 2008 on .76 ac lot in San Bernardino County. Close to Mall of Victor Valley and I-15. 100% NNN lease to Los Alazanes Mexican Food with 5 yrs left. NOI $114K/yr with 3% annual rent increases. $1.52M. 7.50% cap.
4. Retail Building in Humble, TX: 41,500 SF attractive retail center on 3.41 ac lot at a main retail corridor in fast growing (493.57% pop growth) and affluent (AHI $117K/yr) Houston metro. Next to Beltway-8. 100% NNN leased to Gold’s Gym and Goodwill Industries with long term leases. NOI $647K/yr with rental increases. $7.8M. 8.30% cap.
5. Hooters in Evansville, IN: 7295 SF Hooters Restaurant on at major retail corridor. Close to Eastland Mall, Washington Square Mall, Evansville State Hospital and St Mary’s Medical Center. New 20 yrs absolute NNN corp lease. NOI $224K/yr with 10% rent bumps every 5 yrs. $2.99M. 7.50% cap.
6. Shopping Center in Chandler, AZ: 57,038 SF consisting of five attractive retail buildings on 6.84 ac lot in growing Phoenix suburbs. Shadow anchored by Sam’s Club. Adjacent to shopping center with Kohl’s, Walmart and 24 Hour Fitness. 96% leased with only one vacant unit. NOI $779K/yr. $10.5M. 7.42% cap.
7. Retail Center in Raleigh, NC: 10,000 SF well maintained retail center in high income area with an AHI of $107K/yr in 3 mile radius. 100% leased. NOI $71K/yr. $950K. 7.50% cap. Upside potential as rent is below market rent.
8. Strip Center in Ammon, ID: 9450 SF newly constructed strip center on 1.24 ac lot in fast growing Idaho Falls suburbs. Close to Grand Teton Mall and Eastern Idaho Regional Medical Center. 66% NNN leased. Actual NOI $120K/yr. $1.5M. 8% actual cap. Upside potential when fully leased.
9. Office/Retail Center in Washington, DC: 44,147 SF eye-catching office/retail center at a signalized intersection in densely populated area with nearly 500,000 residents in 5 mile radius. 94% leased. NOI $787K/yr. $9M. 8.75% cap.
10. Shopping Center in Peoria, AZ: 25,481 SF attractive retail center on 3.58 ac lot at a hard corner location in high (AHI $84K/yr) income Phoenix suburbs. Shadow anchored by Lee Lee International Supermarket. Across from Fry’s Food center and CVS. 86% leased. NOI $377K/yr. $5.25M. 7.19% cap. Upside potential.  

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