04-04: Walgreens, shopping center, office building

1. Walgreens in Glenolden, PA: 13,905 SF 24-hr drugstore (Note: 24-hr drugstore tends to be a better location) built in 1998 on 1.86 ac lot in densely-populated Philadelphia metro.  20 yrs NNN- with 4 yrs left.  NOI $379K/yr.  $5.121M. 7.4% cap. 
2. Shopping center in Tacoma, WA: 29,014 SF mature 7-unit retail center.  Shadow anchored by Grocery Outlet. 73% leased with 1 vacant unit.  Pro forma NOI $253K/yr. $2.5M. 10% cap.
3. Office Building in Las Vegas, NV: 14,500 SF newer 9-unit office building on 1 ac lot. 90% leased to mostly 5 medical tenants and 3 professional tenants.  NOI $120K/yr.  $1.6M. 7.5% cap.
4. Strip mall in Wichita, KS: 8350 SF multi-tenant strip center in high income area.  100% leased.  NOI $109K/yr. $1.35M. 8.1% cap.

            (c) Transmercial 2014