01-23: Fitness Evolution; Driver's Auto Repair; Coco's; Purrfect Auto; Popeyes

1. Fitness Evolution in Antioch, CA: 26,200 SF well maintained fitness center on 2+ ac lot in a stable city Northeast of San Francisco. At a densely retail artery close to Hwy-4. New 20 yrs absolute NNN lease  to a proven operator with 16 units. This is a sale-leaseback investment so lease terms are negotiable. NOI $282K/yr with 1% annual rent bumps. $3.537M. 8% cap.
2. Driver’s Auto Repair in League City, TX: brand new 5,678 SF service automotive repair center in fast growing (125.75%) and affluent (AHI $110K/yr) Houston metro. 20 yrs NNN lease to an operator with 17 locations. NOI $129K/yr with 1.5% annual rent increases. $1.848M. 9% cap.
3. Neighborhood Center in Salem, OR: 119,137 SF shopping center on over 8 ac lot next to Hwy-22 and near I-5. Shadow anchored by ShopKo and WinCo Foods. Across from the Home Depot. 97% leased. NOI $990K/yr. $13.15M. 7.53% cap.
4. Coco’s in El Cajon, CA: 7500 SF Coco’s Bakery & Restaurant along main retail corridor  in densely populated San Diego metro. Adjacent to Westfield Parkway Mall and near I-8. 100% NNN corp lease with 9+ yrs left. NOI $152K/yr. $2.65M. 5.75% cap.
5. Office Building in Santa Ana, CA: 32,184 SF Class-B office building on 2+ ac lot across from 178-bed Coastal Community Hospital. NOI $535K/yr. $7.65M. 7% cap.
6. Purrfect Auto in San Leandro, CA: 4550 SF five-bay Purrfect auto center (franchise with 100 locations) built in 1999 on an outparcel to Costco in San Francisco Bay area. Across from Westgate Center and close to I-880. 100% NNN lease with 3 yrs left. NOI $88K/yr. $1.2M. 7.40% cap.
7. MOB in Sunnyvale, TX: 5935 SF high quality constructed medical office building completed in 2010 in fast growing Dallas suburbs. Close to Texas Regional Medical Center and Hwy-80. NNN leased to 2 stable medical/dental tenants. NOI $125K/yr. $1.675M. 7.50% cap.
8. Shopping Center in Surprise, AZ: 77,545 SF attractive shopping center on nearly 12 acres of land in booming (1,627.06% pop growth since 2000) Phoenix suburbs. 92% leased. NOI $936K/yr. $11.7M. 8% cap.
9. Auto Center in Evanston, IL: 5000 SF well kept auto center on .45 ac lot at a three-street intersection in Chicago suburbs. 100% NNN leased to Pep Boys and Hertz Car Rental. NOI $81K/yr. $965K. 8.44% cap.
10. Popeyes in Reno, NV: 3028 SF franchised fast food restaurant built in 1999 on .74 ac lot in a growing area. Off/on ramp of I-80.  20 yrs absolute NNN lease with 12 yrs left. NOI $77K/yr with 1% annual rent increases. $1.2M. 6.46% cap.

           

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