10-01: Rite Aid, Grocery Outlet, Wendy's, Retail Centers, Shopping Centers

1. Rite Aid in Tuscaloosa, AL: 10,990 SF drive-thru Rite Aid pharmacy built in 1998 on 1.90 ac lot at a signalized intersection and along major thoroughfare. 20 yrs absolute NNN corp ground lease (land is for sale) with 5 yrs left. NOI $81K/yr with 12.5% rent bumps every 5 yrs. $1.2M. 6.76% cap.
2. Shopping Center in Durham, NC: 36,760 SF well maintained shopping center on 4+ ac lot in fast growing middle-class area. Along major retail corridor and with easy access to I-40. 92% leased. NOI $405K/yr. $5M. 8.10% cap.
3. Strip Center in Colorado Springs, CO: 6040 SF beautiful strip center completed in 2011 outparcel to The Home Depot in high income area with AHI of $125K/yr in 1 mile. Close to 1,159,187 SF Chapel Hills Mall and I-25. 100% NNN leased. NOI $155K/yr. $2.31M. 6.75% cap.
4. Grocery Outlet in Albany, OR: 22,700 SF retail building constructed in 1995 on over 3 ac lot at a busy retail artery. Across from Heritage Mall. 100% NNN corp lease to Grocery Outlet with 3 yrs left. NOI $219K/yr. $2.44M. 9% cap.
5. Shopping Center in Brownsville, TX: 36,139 SF shopping center built in 2002 on 2.89 ac outparcel to Sunrise Mall in a high growth border city. Next to Hwy-77/83. 89% leased. Actual NOI $510K/yr. $6.721M. 7.60% cap. Upside potential.
6. Wendy’s in Knoxville, TN: 3,094 SF Wendy’s restaurant on .99 ac lot adjacent to Knoxville Center Mall and next to I-640. 100% absolute NNN lease with 8 yrs left. NOI $104K/yr. $1.34M. 7.79% cap.
7. Medical Office Building in Rocklin, CA: 10,400 SF well kept medical office building on 1 ac lot in high income (AHI $96K/yr in 3 mile radius) Sacramento suburbs. Easy access to I-80 and Hwy-65. 84% leased to 2 medical/dental tenants with 1 available space. Actual NOI $144K/yr. $1.525M. 9.50% cap.
8. Retail Center in Charlotte, NC: 12,320 SF attractive retail center on 1.60 ac lot in a fast growing area. 100% leased. NOI $175K/yr. $2.195M. 8% cap.
9. Retail Center in Sugar Grove, IL: 15,703 SF retail center along busy corridor. In growing (299.78% pop growth since 2000) and affluent (AHI $134K/yr in 1 mile) Chicago metro. Good tenants mix. NOI $227K/yr. $2.528M. 9% cap.
10. Neighborhood Center in Chalmette, LA: 135,000 SF recently renovated shopping center East of New Orleans. All units face main road. Across Home Depot and Lowes. NOI $1.223M/yr. $14.5M. 8.44% cap.

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