03-11: Starbucks Coffee, Arby's, MOB, Retail Center

1. Retail Center in Hampton, GA: 27,600 SF shopping center built in 2006 on 8+ ac lot in fast growing Atlanta metro. Property include a shopping center and a 1.83 ac  separate parcel valued at $400K.  Tenants include: CATO, Snap Fitness, Goodwill, Hibbett Sports, Little Caesar’s, Sally Beauty, Palmer Insurance and Classy Nails & Cuts. Along major retail artery and between Walmart and Home Depot. 80% NNN leased. Actual NOI $236K/yr. $3.1M for both center and parcel.  7.61% cap..
2. Starbucks Coffee in Hickory, NC: 1,870 SF free-standing retail building constructed in 2008 on .78 ac lot located at prime retail location. Close to Valley Mills Mall. On an off/on ramp of I-40. 10-yrs NN lease with 5-yrs left. NOI $98K/yr. $1.315M. 7.50% Cap.
3. Retail Center in Saint Joseph, MO: 7956 SF attractive retail center built in 2008. Shadow anchored by Kohl’s, Hollywood Cinemas, Target, Bed Bath & Beyond & Best Buy. 100% NNN leased to Buffalo Wild Wings, Sprint and Allure Nails. NOI $198K/yr. $2.45M. 8.10% cap.
4. Office Building in Westerville, OH: 43,595 SF well maintained office building on nearly 5 ac lot in growing upper middle-class Columbus suburbs. 100% NNN lease with 7-yrs left to TPUSA, a subsidiary of Teleperformance, a public company. NOI $580K/yr with annual rent increases. $6.95M. 8.35% cap.
5. Retail Center in Cleveland Heights, OH: 18,485 SF attractive retail center on 2 ac lot in Cleveland suburbs. Tenants include: Family Dollar, Pizza Hut, Check into Cash, Food Mart, Dry Cleaners and Coventry Poultry. Close to 615,573 SF Severance Town Center. 100% leased. NOI $126K/yr. $1.348M. 9.41% cap.
6. Neighborhood Center in Yuba City, CA: 123,283 SF well kept shopping center on nearly 7 ac lot North of Sacramento. Anchored by Dollar Tree and Reibe’s Auto Parts. 100% leased. NOI $683K/yr. $9.4M. 7.28% cap.
7. Arby’s in Apache Junction, AZ: 1496 SF Arby’s restaurant built in 1990 along major retail artery in growing Phoenix suburbs. Across from Walmart Supercenter. 20-yrs NNN lease with 12-yrs left. NOI $78K/yr with a 7.5% rent bump in 2016. $975K. 8% cap.
8. Retail Center in Macon, GA: 24,000 SF attractive retail center built in 2003 on 2.34 ac outparcel to Walmart Supercenter. In fast growing area and close to I-475. 50% leased to Dollar Tree, Jersey Wings and Indian Restaurant. Only $850K. NOI/Cap N/A.
9. MOB in Lake Worth, FL: 34,579 SF Class-B medical office building on over 2 ac lot along main thoroughfare. Between 460-bed JFK Medical Center and Palm Beach State College. 80% leased to multiple tenants. NOI $542K/yr. $6.645M. 8.17% cap.

            (c) Transmercial 2014