08-29: Carino's Italian Grill, Burger King, MOB, KFC, Retail Buildings

1. Carino’s Italian Grill in Longmont, CO: 6,938 SF Italian restaurant on 1 ac lot in growing & affluent Denver’s suburbs (AHI $104K/yr).  Across from Twin Peaks Mall.  100% absolute NNN lease with 4 yrs left to Carino’s Italian Grill, a regional chain.  NOI $152K/yr. $1.521M. 10% cap.
2. Professional Building in Glen Carbon, IL: 5603 SF Class-B professional building completed in 2006 in affluent St Louis suburbs with an AHI of $126K/yr within 1 mile. 100% NNN leased to multiple tenants. NOI $76K/yr. $847K. 9% cap.
3. Retail Center in Fort Myers, FL: 14,205 SF attractive retail center at a hard corner location across from Super Target. 100% leased to 5 tenants. NOI $122K/yr. $1.536M. 8% cap.
4. MOB in Cypress, CA: 13,905 SF Class-A recently renovated office park consisting of three buildings on 1.20 ac lot in high income (AHI $110K/yr)& densely populated Orange county area with over 500,000 residents within 5 miles. 100% leased. NOI $216K/yr. $3.192M. 6.79% cap.
5. Office Buildings in Richardson, TX: 59,792 SF Class-B office buildings on 4.80 ac lot between Methodist Richardson Medical Center and Hwy-75. 94% leased. NOI $337K/yr. $4.5M. 7.49% cap. Upside potential.
6. Retail Center in Phoenix, AZ: 12,980 SF retail center built in 2008 on 1.38 ac lot in fast growing (190.75% pop growth since 2000) and high income area with an AHI of $112K/yr in 1 mile. Close to I-17. 100% leased. NOI $302K/yr. $3.975M. 7.60% cap.
7. Strip Center in Spring, TX: 10,149 SF attractive strip center built in 2000 in high income (AHI $119K/yr) Houston suburbs. All units face main road. 82% leased to Taboo Smoke, Emporium, Anything Wireless, Beadoholique, Maid Pro, & Spring Cuts. NOI $89K/yr. $956K. 9.41% cap.
8. Burger King in Fayetteville, NC: 3247 SF fast food restaurant on 1.29 ac lot along major corridor. 20 yrs absolute NNN corp lease with 5 yrs left. NOI $81K/yr. $1.021M. 8% cap.
9. KFC-A&W in Waterford, MI: 3125 SF dual-branded fast food restaurant on .72 ac lot in middle-class Detroit suburbs. New 20 yrs absolute NNN lease from an operator with 128 locations.  NOI $86K/yr with 8% rent bumps every 5 yrs.  $1.235M. 7% cap.
10. MOB in Bradenton, FL: 10,084 SF Class-B medical office building on 1.48 ac lot in high income area. Close to Manatee Memorial Hospital and I-75. 100% leased. NOI $157K/yr. $1.8M. 8.75% cap.

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