02-26: DaVita, Medical Office Park, Hooters, Bridgestone Firestone, Retail Center

1. Davita Dialysis Center in Fairview Park, OH: 3787 SF dialysis center in excellent condition on 1/3 ac lot just 1/4 mile from 517-bed Fairview Hospital in middle-class Cleveland metro.  10 yrs NNN- till 2019 to Davita.  NOI $60K/yr with generous 3% annual rent bumps.  $749K.  8% cap.
2. Bridgestone Firestone in Broker Arrow, OK: 6888 SF auto repair center on .80 ac lot in Tulsa suburbs. currently being remodeled.  Close to Hwy-51. 20-yrs absolute NNN corp lease with 8+ yrs left. NOI $157K/yr. $2.247M. 7% cap.
3. Shopping Center in Liberty Township, OH: 24,007 SF attractive shopping center built in 2005 on 5.44 ac lot in affluent (AHI $102K/yr) Cincinnati suburbs. All units face main corridor. 100% NNN leased. NOI $321K/yr. $3.573M. 9.01% cap
4. Hooters in Topeka, KS: 6000 SF Hooters Restaurant built in 2005 on 1.85 ac lot at a major retail artery. Off an off/on ramp of I-70. 15-yrs absolute NNN corp lease. Tenant has been at this location since 2004. NOI $200K/yr with 10% rent increases every 5-yrs. $2.857M. 7% cap.
5. Office Building in Rockwall, TX: 8400 SF Class-A office building completed in 2008 on .86 ac lot in growing (67.71% pop growth since 2000) and high income Dallas metro with an AHI of $99K/yr in 3 miles. Adjacent to Texas Health Presbyterian Hospital-Rockwall. 100% leased to dentist, dermatologist, CPA firm and a title company. NOI $184K/yr. $2.275M. 8.10% cap.
6. Shopping Center in Lincoln, NE: 55,321 SF well maintained shopping center on 4.75 ac lot close to Westfield Gateway Mall. 100% leased to Westlake Ace Hardware, Goodwill, Fazoli’s, Outback Steakhouse, Dietze Music House, Papa John’s Pizza, Salon Centric and Smokehouse Deli. NOI $433K/yr. $5.36M. 8.09% cap.
7. Retail Center in Sacramento, CA: 14,147 SF 5-units well maintain retail center on nearly 1 ac corner lot.  Tenants include: Subway, Thrift Store, Visual Impact and Golden Hand Hair and Nails.  81% NNN leased with 1 vacant unit.  NOI $72K/yr.  $1.2M. 5% cap.  Just $85/SF!
8. Shopping Center in Bessemer, AL: 38,900 SF attractive shopping center built in 1999 on 8+ ac lot shadow-anchored by Walmart Supercenter in Birmingham suburbs. Close to I-20. 100% NNN leased. NOI $184K/yr. $2.265M. 8.15% cap.
9. Medical Office Park in Miami, FL: 60,275 SF Class-A medical office park consisting of four buildings completed in 2001. 84% leased. NOI $762K/yr. $12.1M. 7.24% cap.

            (c) Transmercial 2014