01-24: Sonic Drive-In; Mega Pawn; The Goddard School; Oil Express; Ross Dress For Less

1. Sonic in Spring Hill, FL: 1538 SF drive-in restaurant built in 2003 on .79 ac outparcel to Target and Publix Super Market along major retail corridor in North of Tampa. 15-yrs absolute NNN lease. NOI $75K/yr with 10% rent bumps every 5 yrs. $965K. 7.25% cap.
2. Mega Pawn in Kissimmee, FL: 8174 SF retail building renovated in 2010 on over 2 ac lot in fast growing Orlando suburbs. 100% NNN- lease with 2-yrs left. NOI $98K/yr. $1.09M. 9.01% cap.
3. The Goddard School in Pasadena, MD: 7715 SF franchised day care facility renovated in 2013 on 1+ ac lot bounded by mostly residential neighborhoods in high income (AHI $107K/yr in 3 mile radius) Baltimore metro. Tenant has been at this location since 1997. 100% NNN- lease with 7 yrs left. NOI $166K/yr with 3% annual rent increases. $2.083M. 8% cap.
4. 7-11 Strip Center in Everett, WA: 5460 SF well kept strip center at a hard corner location in growing Seattle suburbs. Close to Hwy-526 and I-5. 100% leased to 4 tenants including 7-11. NOI $74K/yr. $1.05M. 7.09% cap.
5. Oil Express in Martinez, CA: 3247 SF 2-bay auto center in a growing and high income (AHI $97K/yr in 3 mile radius) city Northeast of San Francisco. Easy access to Hwy-4. New 10-yrs absolute NNN lease to regional operator with 3 units. This is a sale-leaseback investment so lease terms are negotiable. NOI $66K/yr with annual rent bumps. $920K. 7.20% cap.
6. Shopping Center in West Haven, CT: 37,050 SF well maintained shopping center on nearly 3 ac lot close to I-95. 100% leased to Tutor Time Daycare, Yu Beauty Supply, Laundry Capital Laundromat, Big Bargain C Discount Store and RVP Recording Studios. NOI $331K/yr. $3.895M. 8.50% cap.
7. Ross Dress For Less in Lompoc, CA: 31,608 SF retail building on 2.92 ac lot in growing Santa Barbara County. Next to Albertsons grocery. 16-yrs NNN lease with 4+ yrs left. NOI $252K/yr. $3.9M. 6.5% cap.
8. Shopping Center in Smyrna, GA: 69,546 SF attractive shopping center on nearly 18 acres of land at a major corridor in fast growing Atlanta suburbs. Anchored by Publix Supermarket. 100% leased to strong national, regional and local tenants. NOI $620K/yr. $7.08M. 8.75% cap.

            (c) Transmercial 2014