Thursday, October 31, 2013

10-15: Burger King, DaVita, iFly, Shopko Express, Advance Auto Parts, MOB



  1. Burger King in Socorro, TX: 4000 SF well maintained fast food restaurant on .86 ac lot along main retail corridor in a growing border city. 100% NNN lease with 7 yrs left. NOI $125K/yr. $1.675M. 7.50% cap.
  2. MOB in Spring, TX: 28,715 SF high quality constructed medical office building completed in 2005 on 3.39 ac lot in fast growing (229.26% pop growth since 2000) and affluent (AHI $129K/yr in 1 mile) Houston suburbs. All units face main road. 100% NNN leased to 7 tenants, 5 of them medical. NOI $468K/yr. $6.248M. 7.5% cap. 
  3. DaVita in Fairview Park, OH: 3787 SF attractive dialysis center in Cleveland suburbs. Close to Fairview Hospital. 100% NNN lease with 6 yrs left. NOI $59K/yr. $749K. 8% cap.
  4. Physicians Urgent Care in Fort Wayne, IN: 4100 SF Class-A newly constructed urgent care center on nearly 1 ac lot along major retail artery. Close to Glenbrook Square Mall. 10 yrs NNN corp lease with 9+ yrs left. NOI $94K/yr with 2% annual rent increases. $1.397M. 6.75% cap.
  5. iFly in Naperville, IL: 8000 SF under construction single-tenant Indoor skydiving entertainment center on .85 ac lot in growing and high income (AHI $118K/yr) Chicago metro. Close to I-88.  New 10 yrs NNN lease. NOI $100K/yr. $1.43M. 7% cap.
  6. Retail Center in Carrollton, TX: 14,950 SF attractive retail center built in 2005 on 1.80 ac outparcel to Walmart in affluent Dallas suburbs (AHI $104K/yr in 1 mile). Visible from Hwy-190 and close to I-35E. $3.5M. NOI/Cap not provided.
  7. Shopko Express in Appleton, WI: 13,900 SF Shopko Express drug store with walk-in clinic built in 2008 on 1.38 ac outparcel to Lowe’s and Festival Foods grocery at main retail corridor. Close to Hwy-441. 100% NNN lease with 15+ yrs left to a $3B private company. NOI $195K/yr with a generous 20% rent increase in 2018. $2.518M. 7.75% cap.
  8. Apartments in San Bernardino, CA: 24-unit apartment complex in Southern California. Close to schools, parks, shopping centers and Hwy-210. 90% occupied. Actual NOI $98K/yr. $1.445M. 6.85% actual cap.
  9. Advance Auto Parts in McAllen, TX: 6791 SF Advance Auto Parts built in 2005 on .81 ac lot at a busy corner location in fast growing and high income area with an AHI of $87K/yr in 1 mile. 15 yrs NNN corp lease with 6+ yrs left. NOI $113K/yr with 10% rent increases every 5 yrs. $1.578M. 7.20% cap.
  10. Office Building in Irvine, CA: 24,772 SF Class-B office building on 1.33 ac lot in densely populated high-income (AHI $97K/yr) city in Orange County.  Close to John Wayne Airport and I-405. 96% leased. NOI $318K/yr. $4.685M. 6.80% cap.

© Transmercial 2013

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