Wednesday, August 14, 2013

07-31: REO Office Building, Chuck E Cheese's, El Pollo Loco, AAP, Chevron, Panera Bread



  1. REO Office Building in Tampa, FL: 9284 SF attractive bank-owned office building constructed in 2008 part of The Plaza at Westchase Commons, a professional office park. 100% leased to multiple tenants. NOI $85K/yr. $946K. 9.05% cap.
  2. Shopping Center in New Port Richey, FL: 46,000 SF shopping center renovated in 2005 on 4+ ac lot in Tampa metro. Anchored by Harbor Freight Tools. Along US Hwy-19. NOI $303K/yr. $3.2M. 9.49% cap.
  3. Shopping Center in Miami Gardens, FL: 52,711 SF shopping center built in 2004 on 6.70 ac lot in densely populated Miami suburbs. Next to Hwy 826 off/on ramp. 97% leased. NOI $803K/yr. $9.075M. 8.85% cap.
  4. Inline Center in Lakeside, CA: 13,505 SF well kept retail center on .98 ac lot in San Diego suburbs. Shadow anchored by Rite Aid and Albertsons. 75% NNN leased to Subway, The UPS Store, H & R Block, Fantastic Sam’s and Bank of America Kiosk. NOI $247K/yr. $3.95M. 6.27% cap. Upside potential.
  5. Office Building in Fremont, CA: 22,505 well maintained office building on 1.78 ac lot in affluent Silicon Valley suburbs (AHI $143K/yr in 3 mile radius. Close to Tesla Motors Factory, I-680 and I-880. 91% leased. NOI $237K/yr. $3.28M. 7.25% cap.
  6. Chuck E Cheese’s in West Melbourne, FL: 15,197 SF Chuck E. Cheese built in 2011 on 2 ac lot in a growing middle-class area. Close to I-95.  15 yrs absolute NNN ground lease (land is for sale) with 12+ yrs left. NOI $168K/yr with annual rent increases. $2.805M. 6% cap. 
  7. El Pollo Loco in Mesa, AZ: 3060 SF free-standing El Pollo Loco restaurant built in 1998 at a hard corner location. Along major retail artery and close to Fwy-60. 100% absolute NNN ground lease (land is for sale) with 5 yrs left to a strong franchisee with 13 units. NOI $75K/yr. $1.26M. 6% cap.
  8. Advance Auto Parts in Lawrenceville, GA: 7000 SF auto center on 1.73 ac lot at a signalized intersection in growing and high income (AHI $96K/yr) Atlanta suburbs. Across from CVS. 100% NNN lease with 9 yrs left. NOI $168K/yr. $2.29M. 7.34% cap.
  9. Chevron Gas Station in San Jose, CA: 1008 SF gas station with convenience store at a hard corner location along De Anza Blvd. at Hwy 85. High income area with an AHI of $150K/yr in Silicon Valley. $2.5M for both real estate and business.
  10. Panera Bread in Indianapolis, IN: 4725 SF built-to-suit Panera Bread built in 2003 on over 1 ac lot in fast growing area. Across from US Department of Defense, 2nd largest facility with 6,000 employees. 100% absolute NNN corp lease with 6 yrs extension.  NOI $104K/yr. $1.486M. 7% cap.

© Transmercial 2013
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