02-12: CVS, AAP, Brakes Plus, Goodwill, Albertsons, Strip Centers

1. CVS in Decatur, GA: 10,161 SF drive-thru drug store built in 1999 on 1.54 ac lot at a hard corner location in Atlanta suburbs. New roof was installed in 2009. Close to Hwy-10 and I-285. 20-yrs NNN- corp lease with 6-yrs left. NOI $231K/yr. $3.193M. 7.25% cap.
2. Shopping Center in Indianapolis, IN: 30,285 SF attractive shopping center built in 2004 on 3+ ac lot in upper middle-class area. All units face main thoroughfare. 88% NNN leased. NOI $269K/yr. $2.775M. 9.72% cap.
3. AAP (S&P BBB-) in Indianapolis, IN: 7000 SF Advance Auto Parts completed in 2003 on .72 ac lot along major artery. 10-yrs NNN corp lease with over 5-yrs left. NOI $71K/yr. $925K. 7.76% cap.
4. Retail Center in Kent, OH: 31,762 SF retail center completed in 1999 on 4+ ac lot anchored by Discount Drug Mart (chain with 70+ stores) in Cleveland Metro. 100% NNN leased. NOI $274K/yr. $3.05M. 9% cap.
5. Strip Center in Houston, TX: 6856 SF attractive strip center built in 1996 on .81 ac outparcel to Walmart Supercenter. Next to Fwy-290.  100% NNN leased to Comcast/Xfinity, The Cash Store and Q-Tee Nails. NOI $170K/yr. $2.348M. 7.25% cap.
6. Brakes Plus in Phoenix, AZ: 5484 SF Brakes Plus on 1+ ac outlot to Walmart Supercenter. In booming (1.395.46% pop growth since 2000) and upper middle class area. New 10-yrs NNN corp lease. NOI $108K/yr with 10% rent bumps every 5-yrs. $1.6M. 6.75% cap.
7. Albertsons in Texarkana, TX: 54,880 SF grocery store on 5.86 ac lot end-cap to 200,276 SF center with Ross Dress for Less and Hobby Lobby. Across from Central Mall and next to I-30. Tenant has been at this location since 1981. 100% absolute NNN lease with 5-yrs left. NOI $391K/yr. $5.226M. 7.50% cap.
8. Goodwill in Round Lake Beach, IL: 21,000 SF attractive retail building on nearly 4 ac lot across from The Home Depot in growing and high income (AHI $93K/yr) Chicago suburbs. 8% cap. NOI/Price N/A.
9. Distressed Shopping Center in Johns Creek, GA: 31,180 SF high-quality construction shopping center on 5.38 ac lot at a signalized location in affluent Atlanta metro with an AHI of $166K/yr in 1 mile. Close to Emory Johns Creek Hospital. 74% leased. Actual NOI $310K/yr. $4.4M. 7% cap. Upside potential when fully leased.
10. Shopping Center in Morrow, GA: 65,966 SF well kept shopping center on nearly 5 ac lot along major retail artery in Atlanta suburbs. Across from Southlake Mall and close to I-75. 100% leased. NOI $407K/yr. $3.975M. 10.26% cap.

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