04-22: Taco Bell, Shopping Centers, Retail Centers

1. Retail Center in Las Vegas, NV: 15,760 SF retail center built in 2006 on nearly 2 ac lot close to 146-bed St. Rose Dominica Hospital. 70% leased to Cricket Wireless, Title Max, Stacks & Yolks, Volcano Grill, Quick Draw Tattoo and Beyond Nails & Spa. Current NOI $213K/yr. $3.7M. 5.76% actual cap. Upside potential.
2. Taco Bell in Oklahoma City, OK: 2175 SF Taco Bell on .59 ac lot at a signalized location in upper middle class area. Brand new 15-yrs absolute NNN lease. NOI $99K/yr with 1% annual rent increases. $1.585M. 6.25% cap.
3. CVS in Chattanooga, TN: 10,055 SF relocating drive-thru drug store built in 2003 on 1.93 ac lot at a signalized location near Hamilton Place Mall and I-75. 100% NNN- lease with 9-yrs left. NOI $217K/yr. $3.225M. 6.75% cap.
4. Shopping Center in Gastonia, NC: 22,226 SF brand new shopping center consisting of three retail buildings along major retail artery in Charlotte metro.Anchored by 12,500 Petco. Adjacent to Target and close to Westfield Eastridge Mall. 100% NNN leased to strong national/regional tenants: Petco, Select Comfort, Massage Envy, Firehouse Subs, & Tijuana Flats. NOI $532K/yr. $7.608M. 7% cap.
5. Retail Center in Cave Creek, AZ: 14,545 SF retail center built in 2006 on 1.83 ac lot in growing and wealthy Northern Phoenix suburbs with an AHI of $122K/yr in 1 mile. NNN leased to Rosati's Pizza, Leslie's Poolmart, Martinizing Dry Cleaners, Perfect 10 Nails and Salon Samera. Actual NOI $161K/yr. $2.85M. 5.65% actual cap. Upside potential when fully leased.
6. Shopping Center in Warner Robins, GA: 31,141 SF shopping center built in 2007 on nearly 4 ac lot between Target and Hobby Lobby. Across from Galleria of Centerville. 100% NNN leased to Panera Bread, The Vitamin Shoppe, Mattress Firm, Hancock Fabricks, Sport Clips, USA Nails and Southern Flair. NOI $382K/yr. $5.462M. 7% cap.
7. Shopping Center in Eagan, MN: 42,051 SF well maintained shopping center on 5.83 ac lot in high income (AHI $114K/yr) Minneapolis suburbs. Close to I-35E. 100% leased. NOI $412K/yr. $5.15M. 8.01% cap.

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