02-03: CVS, Mixed-use, Lone Star Steakhouse, Burger King, First Choice ER

1. Shopping Center in Euclid, OH: 46,679 SF shopping center renovated in 2010 on over 2 ac lot in Cleveland suburbs. Anchored by 11,200 SF Dollar Tree and 12,259 SF Citi Trends. 89% NNN leased.  Actual NOI $347K/yr. $3.3M. 10.54% actual cap.
2. CVS in Nashville, TN: 10,855 SF established CVS Pharmacy on 1+ ac lot at a signalized intersection near Southern Hills Medical Center. 20-yrs NNN- lease with 2-yrs left. NOI $174K/yr. $2.1M. 8.29% cap.
3. Office Building in Lawrence, KS: 13,868 SF Class-A office building on 1.58 ac lot in growing and affluent area with an AHI $117K/yr. 100% NNN corp leased with 5-yrs left to ARRIS Group, a telecommunications equipment manufacturing company that provides cable operators with high-speed data, video and telephony systems. NOI $291K/yr with 2.3% increases every 2-yrs. $3.429M. 8.50% cap.
4. Mixed-use in Morrisville, NC: 19,257 SF attractive retail/office building constructed in 2000 on 2.53 ac lot in fast growing and high income (AHI $97K/yr in 1 mile) Raleigh suburbs. 71% leased. Actual NOI $199K/yr. $2.25M. 9% cap.
5. Lone Star in Rockford, IL:  6397 SF Lone Star steakhouse on .92 ac outparcel to Target and Hobby Lobby in middle class area. Near Walmart Supercenter, Sam's Club, Lowe's & Home Depot. 100% absolute NNN lease with 12 yrs left.  NOI $208K/yr with 1.5% annual rent bumps.  $2.189M. 9.5% cap.
6. Retail Center in Magnolia, TX: 15,318 SF attractive retail center along main corridor in fast growing and affluent Houston suburbs with an AHI of $158K/yr in 3 mile radius. 100% NNN leased to Texas Beer Garden, Re/Max Hometown, Cleartone Hearing, The Speech Spot and the Autism House. 8.25% cap. NOI/Price N/A.
7. Burger King in Machesney Park, IL: 3501 SF recently renovated fast food drive-thru restaurant on 1.34 ac outparcel to Machesney Park Mall. Tenant has been at this location since 1986. Newly signed lease extension with 19-yrs absolute NNN ground lease (land for sale). NOI $55K/yr with 10% rent increases every 5-yrs. $880K. 6.25% cap.
8. First Choice ER in Colleyville, TX: 6000 SF freestanding emergency room renovated in 2013 on .81 ac lot in fast growing and affluent (AHI $123K/yr) Fort Worth/Dallas suburbs. Along Hwy-121.  10-yrs NNN lease. NOI $198K/yr 10% rent bump in year 6. $2.943M. 6.75% cap.

            (c) Transmercial 2014