08-15: USA Auto, Garden Ridge, Family Dollar, Shopping Centers

1. USA Auto in Las Vegas, NV: 2990 SF USA Auto Service center built in 2003 at main retail corridor and close to Hwy-215. New 10 yrs NNN lease to strong operator with six units. NOI $53K/yr with 3% annual rent increases. $740K. 7.27% cap.
2. Strip Center in Las Vegas, NV: 5,099 SF strip center at a hard corner location in fast growing area. Close to I-515. 100% NNN leased. NOI $66K/yr. Only $799K. 8.29% cap.
3. MOB in Tempe, AZ: 22,845 SF Class-B medical office building on 2.74 ac lot in fast growing Phoenix suburbs. Close to Hwy-101. 92% leased with dental and eleven medical practices. NOI $328K/yr. $4.1M. 8% cap. 
4. Strip Center in Folsom, CA: 4637 SF attractive strip center at a major retail corridor in growing (11.73%) & high income (AHI $103K/yr in 3 mile radius) Sacramento suburbs. 100% NNN leased California Check Cashing, Silky Nails, Tangled Hair Salon and a Clothing Boutique. NOI$73K/yr. $1.2M. 6.10% cap.
5. Retail Building in Lake Worth, TX: 3952 SF retail building completed in 2007 on .53 ac lot in Fort Worth suburbs. Across from Power Center anchored by Target, Ross Dress For Less, Hobby Lobby and Walmart. Close to I-820. 100% NNN leased to Popeye’s and T-Mobile. NOI $159K/yr. $2.285M. 7% cap.
6. Garden Ridge in Hilliard, OH: 128,875 SF crafting and home decorating retail center on 10+ ac lot in high income (AHI $94K/yr) Columbus metro. Tenant has been at this location since 1998. Next to I-270. 22 yrs absolute NNN lease with 7+ yrs left. NOI $612K/yr with rental increases. $7.652M. 8% cap.
7. Retail Building in Huntersville, NC: 6817 SF attractive retail building constructed in 1999 on 3+ ac lot in growing (113.66% pop growth since 2000) and high income (AHI $97K/yr in 3 miles) Charlotte suburbs. Across from North Cross Shopping Center, an open-air center anchored by Harris Teeter, Kohl’s, Staples, HomeGoods, Rack Room Shoes and Target. Close to I-77. 100% leased to two tenants. NOI $150K/yr. $1.75M. 8.60% cap.
8. Family Dollar in Saint Petersburg, FL: 9900 SF Family Dollar built in 2008 on .76 ac lot in densely residential area. 10 yrs NNN- corp lease with 5 yrs left. NOI $150K/yr. $1.622M. 9.25% cap.
9. REO’ed Office Building in Miami, FL: 29,052 SF well-maintained bank-owned office building on over 1 ac lot in densely populated and upper middle-class area. NOI $208K/yr. $2.6M. 8% cap.
10. Shopping Center in Troy, MI: 30,090 SF mature shopping center on 4+ ac lot at a signalized corner. In affluent Detroit suburbs with an AHI of $119K/yr in 1 mile. 72% leased. NOI $271K/yr. $2.26M. 12% actual cap.

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