08-13: Hometown Buffet, Johnny Carino's, Texas Roadhouse, Staples, Retail Buildings

1. Retail Center in Crestwood, IL: 15,812 SF retail center built in 2008 on 2+ ac lot at a signalized intersection in densely populated Chicago suburbs. Across from Power Center anchored by AMC Theater, Target, Burlington, Kohl’s, Menards and Walmart. Close to I-294. 100% NNN leased to AT&T, FedEx Office and Ingalls Care Center, a regional healthcare provider with 8 locations. NOI $349K/yr. $4.624M. 7.56% cap.
2. Hometown Buffet in Bakersfield, CA: 10,800 SF Hometown Buffet restaurant built in 1994 on .59 ac outparcel to Foods Co grocery market. At a main retail corridor and close to Hwy-99.  25 yrs absolute NNN lease with 6+ yrs left. NOI $203K/yr. $2.744M. 7.42% cap.
3. Retail Building in Kenosha, WI: 3138 SF retail building completed in 2004 on .44 ac lot across from Sears & Piggly Wiggly center. Near Southport Plaza, a 573,431 SF center anchored by Lowe’s and Kohl’s. 100% NNN leased to Starbucks and EZMoney, a payday loan operator with 380 locations. NOI $99K/yr. $1.32M. 7.50% cap.
4. Johnny Carino’s in Lake Charles, LA: 6532 SF Italian Restaurant built in 2003 on 1.57 ac lot at main retail corridor. Next to Lowe’s & across from Walmart Supercenter. Near I-210. 17 yrs absolute NNN corp lease with 7+ yrs left. NOI $173K/yr with 1% annual rent increases. $2.105M. 8.25% cap.
5. Texas Roadhouse in Augusta, GA: 7500 SF newly constructed steak restaurant on 1.87 ac lot in fast growing area. Across from 350-bed Doctors Hospital of Augusta.  New 15 yrs NNN corp ground lease (land is for sale).  NOI $110K/yr. $2M. 5.5% cap.
6. MOB in Cincinnati, OH: 11,653 SF Class-B medical office building on nearly 3 ac lot along busy thoroughfare. With easy access to I-275.  100% NNN lease with 7 yrs left to MEDLAB. NOI $188K/yr. $2.15M. 8.77% cap.
7. Retail Center in Wilmington, NC: 13,662 SF retail building on 1+ ac corner location in fast growing coastal city. Across from Target, Marshalls, Office Max, PetSmart and Party City center. 100% leased to three tenants. NOI $197K/yr. $2.35M. 8.42% cap.
8. Staples in Woodbury, MN: 20,052 SF attractive retail building on 2+ ac lot in affluent ($121K/yr in 3 miles) Minneapolis suburbs. Close to I-94. 10 yrs NNN lease with 5 yrs left. NOI $328K/yr. $4.5M. 7.30% cap.
9. Restaurant in San Jose, CA: 4679 SF free standing attractive former Carl’s Jr restaurant on .74 ac lot on First Street. High income area with an AHI of $157K/yr in Silicon Valley. Close to San Jose International Airport, Hwy-101 and I-880. $2.085M.
10. Retail Center in Prospect Park, PA: 12,080 well maintained retail center built in 2009 on .57 ac corner lot in Philadelphia suburbs. 100% leased to Wawa (S&P BBB), a regional tenant with locations in 6 states and Sherwin Williams (S&P A). NOI $132K/yr. $1.75M. 7.58% cap.

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