10-23: Tuffy Auto, Walgreens, Meineke, Student Housing, Retail Centers, Office Buildings

1.  Tuffy Auto in Jacksonville, FL: 5090 SF 4-bay newly constructed full-service automotive repair center at a main retail corridor. 20 yrs NNN corp lease with 16 yrs left. NOI $153K/yr with rent increases every 5 yrs. $2.1M. 7.3% cap.
2. Walgreens in Wylie, TX: 15,120 SF Walgreen’s built in 2003 on 1.86 ac lot at a high traffic intersection in growing & upper middle-class Dallas suburbs.  20 yrs NNN- with 9+ yrs left.  NOI $391K/yr. $6.016M. 6.5% cap.
3. Meineke in Seminole, FL: 5349 SF franchised car care center along major retail artery in St Petersburg suburbs. New 5 yrs NNN- lease. NOI $66K/yr. $825K. 8% cap.  
4. Office Building in Colorado Springs, CO: 30,038 SF Class-A office building fully remodeled  between 2011-2013 on 2+ ac corner lot in growing and upper middle-class area. Close to I-25. 100% leased to stable tenants including Mosaic-Colorado Springs, Colorado Department of Corrections, and Division of Adult Parole. NOI $274K/yr. $3.2M. 8.57% cap.  
5. Retail Center in Orlando, FL: 12,778 SF eye catching retail center built in 2001 on 1.30 ac lot at a busy thoroughfare and in high income area with an AHI of $87K/yr in 1 mile. Adjacent to Publix Grocery center. 100% leased with excellent tenant mix. NOI $206K/yr. $2.667M. 7.75% cap.
6. Retail Center in Huntsville, AL: 33,934 SF attractive retail center in a high growth and high income (AHI $100K/yr in 3 mile) area. 85% leased to seven tenants. NOI $422K/yr. $5.627M. 7.5% cap. Upside potential.
7. Strip Center in Baton Rouge, LA: 10,446 SF well maintained strip center along main corridor in a high income area with AHI of $86K/yr in 1 mile. NOI $140K/yr. $1.65M. 8.50% cap.
8. Strip Center in Macomb, MI: 9580 SF attractive strip center built in 2006 on 1.49 ac outparcel to Home Depot and Target in fast-growing & high-income (AHI $92K/yr) Detroit suburbs. 100% NNN leased. NOI $293K/yr. $3.775M. 7.78% cap.  
9. Student Housing in Los Angeles, CA: 8-unit student apartments close to University of Southern California. 100% occupied. NOI $80K/yr. $1.059M. 7.60% cap.
10. Retail Center in McAllen, TX: 11,309 SF high-quality construction retail center on over 1 ac outparcel to Walmart and Sam’s Club.  Across from Lowe’s. Close to 441-bed McAllen Medical Center, McAllen Heart Hospital, LifeCare Hospital and Hwy-83. 100% NNN leased.  NOI $236K/yr. $2.869M. 8.25% cap.

            (c) Transmercial 2013