Wednesday, August 28, 2013

08-14: Jack in the Box, DaVita, Tutor Time, Hooters, Office Depot



  1. Office Building in Grapevine, TX: 21,230 SF attractive office building completed in 2008 on 2+ ac lot in high income (AHI $107K/yr in 1 mile) Dallas/Fort Worth suburbs. 83% leased to three long term tenants. NOI $272K/yr. $3.03M. 9% cap. Upside potential when fully leased.
  2. Jack in the Box in Rock Hill, SC: 2814 SF fast food restaurant built in 2000 on 1.27 ac outparcel to Food Lion grocery store at a signalized corner location. 18 yrs absolute NNN corp lease with 5 yrs left. NOI $135K/yr. $1.665M. 8.15% Cap.
  3. DaVita in Dayton, OH: 7600 SF recently renovated dialysis center on .72 ac lot at main retail corridor. 15 yrs NNN- corp lease. NOI $92K/yr with 10% rent increases every 5 yrs. $1.367M. 6.75% cap.
  4. Taco Bell in Roswell, GA: 2546 SF Taco Bell at a major corridor in fast growing Atlanta suburbs. Tenant has been at this location since 2006. 15 yrs absolute NNN corp recently extended ground lease (land is for sale). NOI $59K/yr. $975K. 6.14% cap.
  5. Retail Center in Tucson, AZ: 37,540 SF well kept shopping center on 4+ acres lot in middle class area.  Close to I-10. 100% NNN leased to 2 national tenants: Michael’s, and Ace Hardware.  NOI $354K/yr with rent bumps.  $5.065M. 7.40% cap.
  6. Shopping Center in Gastonia, NC: 62,230 SF attractive shopping center anchored by BI-LO grocery and Family Dollar in fast growing Charlotte suburbs. 100% leased. NOI $644K/yr. $5.78M. 8.50% cap.
  7. Office Depot in Houston, TX: 20,898 SF Office Depot built in 2008 on 1.80 ac lot just off I-610. High income area. 15 yrs NNN- corp lease with 10+ yrs left. NOI $350K/yr. $4.123M. 8.50% cap.
  8. Office Building in Mesquite, TX: 13,462 SF Class-B office building completed in 2004 on .72 ac outparcel to Town East Mall in fast growing Dallas suburbs. Next to I-635. 94% NNN leased to multiple tenants. NOI $227K/yr. $2.75M. 8.25% cap.
  9. Tutor Time in Charlotte, NC: 10,160 SF day care center built in 2001 on 2.63 ac lot in upper middle class (AHI $74K/yr in 3 mile radius) area. 100% NNN lease with 8+ yrs left. NOI $281K/yr with 2.5% annual rent increases. $2.65M. 8.25% cap.
  10. Hooters in Tacoma, WA: 8250 SF well maintained Hooters restaurant on .98 ac lot in Seattle suburbs. Off/on ramp of I-5. Close to Tacoma Mall. New 10 yrs absolute NNN lease to 3rd largest franchisee. NOI $185K/yr with 2% annual rent increases. $2.65M. 7% cap.

© Transmercial 2013
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