12-04: Goodyear, Burger King, Chili's Restaurant, Strip Centers

1. Strip Center in Dunwoody, GA: 7949 SF attractive strip center on nearly 1 ac lot in high income (AHI $94K/yr) Atlanta metro. 100% NN leased to two stable tenants: Georgia United Credit Union & Serendipity Catering. NOI $136K/yr. $1.53M. 8.92% cap.
2. Goodyear in Clearwater, FL: 10,000 SF well-kept recently-expanded tires and service center on 1.37 ac lot in Tampa suburbs. 10 yrs NNN- lease with 9 yrs left. NOI $105K/yr. $1.354M. 7.75% cap.
3. Children’s Choice in Parker, CO: 11,080 SF highly-rated day care center built in 2008 on 1 ac lot in growing and affluent Denver suburbs with an AHI of $108K/yr in 3 miles.  15 yrs absolute NNN lease. NOI $240K/yr with rent bumps every 2 yrs. $3.3M. 7.25% cap.
4. Burger King in Elk Grove, CA: 2500 SF drive-thru fast food restaurant completed in 1994 on .94 ac outparcel to Power Center anchored by Burlington Coat Factory, Ross Dress for Less and Toys R Us in high income Sacramento suburbs. At major retail artery and close to Hwy-99. 100% absolute NNN lease with 3 yrs left. NOI $90K/yr. $1.8M. 5% cap.
5. Shopping Center in Fresno, CA: 52,950 SF eye-catching L-shaped shopping center on 5+ ac lot at a signalized corner location. Across from Fashion Fail Mall, with Macy’s, JCpenney and FOREVER 21. On a ramp of Hwy-41. 83% NNN leased. Pro forma NOI $662K/yr. $8.55M. 7.75% pro forma cap.
6. Retail Center in San Diego, CA: 9791 SF well maintained nine units retail center anchored by 7-Eleven. Near I-5. 100% NNN leased. NOI $232K/yr. $3.425M. 6.80% cap.
7. Retail Building in Pleasant Hill, CA: 5512 SF retail building in high income (AHI $98K/yr within 3 mile) Contra Costa County (28 miles SW of San Francisco). 100% leased. Pro forma NOI $124K/yr. $1.7M. 7.35% pro forma cap.
8. Retail Center in Fountain, CO: 6509 SF recently renovated retail center on .75 ac lot in growing Colorado Springs suburbs. Across from Super Walmart. 100% NNN leased to Hibbett Sports and Verizon Wireless. NOI $72K/yr. $1.032M. 7% cap.
9. Retail Center in Lawrenceville, GA: 16,300 SF attractive retail center built in 2004 on 1.50 ac lot in growing Atlanta suburbs. All units face main road. 85% NNN leased. NOI $123K/yr. $1.65M. 7.50% cap. Upside potential.
10. Chili’s in West Valley City, UT: 5600 SF built-to-suit recently remodeled Chili’s restaurant on 1.47 ac lot. Close to Zumiez Valley Fair Mall and I-215. 20 yrs NNN lease with 5 yrs left. NOI $169K/yr. $2.516M. 6.75% cap.

           

            (c) Transmercial 2013