12-05: Walgreen's, Texas Roadhouse Steakhouse, Pizza Hut

1. Shopping Center in Vancouver, WA: 29,750 SF mature shopping center on 2.41 acres lot.  Anchored by 14,400 SF Dollar Tree store.  Shadow anchored by Safeway and across from Lowe's and Fred Meyers grocery. 94% NNN leased to 10 tenants with just 1 avail unit.  Current NOI $321K/yr.  $4.28M. 7.5% cap. Note: WA has no state income tax.
2. Walgreens in Orange Park, FL: 13,905 SF Walgreens built in 1996 on 2.3 ac corner lot in high income Jacksonville suburbs.  100% NNN- lease with 3+ yrs left.  Sales revenue over $6M. NOI $248K/yr.  $3.306M. 7.50% cap.
3. Texas Roadhouse in Prescott, AZ: 7135 SF steakhouse restaurant built in 2001 outparcel to 589,854 SF Prescott Gateway Mall, with Dillards, JCPenney, Sears and More.  15 yrs absolute NNN corp ground (land is for sale) lease with 9 yrs left. NOI $99K/yr with a 10% rent bump in 2018. $1.65M. 6% cap.
4. Shopping Center in Miami Garden’s, FL: 52,711 SF shopping center built in 2004 on 6+ ac lot in densely populated Miami suburbs. Next to Hwy 826 off/on ramp. 98% leased. NOI $803K/yr. $9.075M. 8.85% cap.
5. Retail Center in Kissimmee, FL: 12,342 SF retail center built in 2007 on 2.27 ac outparcel to Lowes Home Improvement in Orlando suburbs. Across from The Loop, a Power Center with Regal Cinemas, restaurants and stores. 100% NNN leased. NOI $364K/yr. $4.56M. 8% cap.
6. Retail Center in Dublin, OH: 31,133 SF consisting of four newly constructed buildings on 4.72 ac lot in growing and affluent (AHI $106K/yr) Columbus suburbs. Close to Mall at Turtle Crossing and I-270. NNN leases. NOI $500K/yr. $5.565M. 9% cap.
7. Retail Building in Anaheim, CA: 4711 SF well-maintained retail building in densely populated area with over 500,000 residents within 5 mile radius. Close to Anaheim Town Square, a major power center. Close to Hwy-57. 100% NNN leased to Domino’s Pizza and Fred Loya Insurance. NOI $89K/yr. $1.793M. 5% cap.
8. Retail Center in Myrtle Beach, SC: 13,500 SF retail center built in 2007 on 1.60 ac lot in upper middle class coastal town. 100% leased. NOI $132K/yr. $1.385M. 9.56% cap.
9. Pizza Hut in Canton, MI: 1940 SF free standing retail building on 1 ac lot along major retail corridor in high income Detroit metro. Tenant has been at this location for over 15 yrs. 100% absolute NNN lease with 5 yrs left. NOI $84K/yr. $960K. 8.75% cap.
10. Retail Center in Norton Shores, MI: 10,500 SF attractive retail center in Muskegon suburbs. 81% NNN leased to Sprint PCS, Lux Nails & Spa, The Attic Clothing Store, Advance America, and The Attic Kids Clothing Store. Actual NOI $121K/yr. $1.517M. 8% cap.

            (c) Transmercial 2013