08-16: Tim Hortons, Apartments, REO center, Office Building, Bono's Pit Bar-B-Q

1. REO’ed Retail Center in Las Vegas, NV: 5833 SF bank-owned retail center constructed in 2005 on .74 ac lot in high income (AHI $98K/yr in 3 miles) area. Adjacent to Centennial Crossroads Plaza, anchored by Target and VONS. Near Centennial Hills Hospital and Hwy-95. 71% NNN leased.  NOI $126K/yr. $1.4M. 9.05% cap.
2. Tim Hortons in Troy, MI: 2500 SF newly constructed Canadian fast food casual restaurant (NYSE: THI) on .78 ac lot in Detroit suburbs. Close to Oakland Mall and I-75. 10 yrs absolute NNN ground lease (land is for sale) with 9+ yrs left. NOI $48K/yr with a 10% rent bump in year 6. $768K. 6.25% cap.
3. Office Building in Woodbury, MN: 15,542 SF Class-B office building completed in 1993 on 1.67 ac lot in growing and affluent Minneapolis suburbs with an AHI of $120K/yr in 1 mile.  100% leased to mostly dental professionals. NOI $160K/yr. 8% cap.
4. Apartments in Sacramento, CA: 88-unit multifamily complex on nearly 3 ac lot. Close to schools, shopping centers, public transportation and I-80. 90% occupied. NOI $328K/yr. $4.7M. 6.98% cap.
5. Bono’s Pit Bar-B-Q in Saint Johns, FL: 4424 SF well established Southern BBQ restaurant built in 2005 on 1 ac lot at a major corridor in high income (AHI $112K/yr in 3 mile) Jacksonville suburbs. This is a sale & leaseback investment, so lease terms are negotiable. 100% NNN leased to a regional restaurant chain with 21 locations. NOI $173K/yr. $2.1M. 8.25% cap.
6. Office Building in Pewaukee, WI: 9400 SF Class-A office building constructed in 2006 on 1+ ac lot in high income (AHI $92K/yr) Milwaukee suburbs. Along main road and close to Hwy-16. 100% NNN leased. NOI $160K/yr. $1.749M. 9.16% cap.

© Transmercial 2013