Monday, February 24, 2014

02-10: Fajitas Restaurant, REO'ed, Wells Fargo, MOB, Retail Buildings



  1. Fajitas Restaurant in Phoenix, AZ: 7796 SF built-to-suit highly-rated-on-Yelp Mexican Restaurant on 1.34 ac lot in densely populated area. Across from Metrocenter Mall and along Hwy-17. 100% NNN lease with 8-yrs left. NOI $138K/yr with a rent increase. $1.97M. 7.01% cap.
  2. MOB in Phoenix, AZ: 12,093 SF Class-B office building on over 1 ac lot along major corridor. Close to 204-bed John C Lincoln Deer Valley Hospital and I-17.  94% leased. NOI $157K/yr. $1.85M. 8.50% cap.
  3. Retail Center in Visalia, CA: 4292 SF consisting of two retail buildings on 1.32 ac outparcel to In-Shape Health Club, a regional tenant with over 70 units in upper middle-class area. 100% NNN leased to Starbucks, Port of Subs, and Phonestop. NOI $144K/yr. $2.23M. 6.50% cap.
  4. REO’ed Retail Center in Riverside, CA: 11,306 SF lender owned retail center at a corner lot across from Kaiser Permanente Riverside Hospital. Near Galleria at Tyler Mall and Hwy-91. 79% leased. NOI $128K/yr. $1.895M. 6.80% cap.
  5. Office Building in Flower Mound, TX: 64,267 SF Class-B office building completed in 2006 in growing (57.34% pop growth since 2000) and affluent ($152K/yr in 1 mile) Dallas/Fort Worth metro. 100% leased to three tenants. NOI $984K/yr. $9.79M. 10.05% cap.
  6. Shopping Center in Cumming, GA: 24,517 SF attractive shopping center built in 2007 on 5+ ac lot in affluent Atlanta suburbs with an AHI of $121K/yr in 1 mile. Along Hwy-20. 94% leased to strong regional/local tenants. $5.25M. NOI/Cap N/A.
  7. MOB in Middleburg Heights, OH: 54,442 SF Class-B medical office building on 4 ac lot in upper middle-class Cleveland suburbs. Across from 354-bed Southwest General Health Center and near I-71. 83% leased. Actual NOI $491K/yr. $6.345M. 7.75% actual cap. Upside potential.
  8. Wells Fargo in Hollywood, FL: 10,388 SF well maintained Wells Fargo (S&P AA- rating) on 1.81 ac corner lot along main retail corridor.  100% leased. NOI $77K/yr. 1.25M. 6.19% cap.

            (c) Transmercial 2014

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