07-07: MOB, Shopping Centers, Retail Centers, Office Buildings

1. Strip Center in Orange Park, FL: 7500 SF attractive strip center built in 2002 on 1.25 ac lot in upper middle-class Jacksonville suburbs. 57% NNN leased. $1.1M. NOI/Cap N/A.
2. Retail Center in Tampa, FL: 18,883 SF well kept L-shaped retail center on almost 2 ac lot along Hwy-576. 90% leased. NOI $159K/yr. $1.875M. 8.50% cap.
3. Retail Center in Hemet, CA: 11,044 SF well maintained retail center on .62 ac outparcel to Sprouts Farmers Market Center in growing Riverside County. 80% NNN leased. Actual NOI $109K/yr. $1.55M. 7.04% actual cap. Upside potential when fully leased.
4. Retail Center in Algonquin, IL: 10,314 SF retail center built in 2012 on 1.52 ac lot in wealthy (AHI $119/yr in 1 mile) Chicago metro. Across from Power Center with Super Target, TJ Maxx, Kohl’s and Toys R Us. 100% NNN leased to Home of the Sparrow, a non-profit thrift store & donation center with 5 locations and Algonquin Smiles Dental. NOI $117K/yr. $1.209M. 9.75% cap.
5. Shopping Center in Edgewater, CO: 25,352 SF newly constructed lake-front shopping center on over 2 ac lot in Denver suburbs. Near Target and King Soopers Grocery. 94% occupied by a mix of local/nationally recognized tenants including Dunkin' Donuts, Little Caesars, The Cooler, GB Fish & Chips and Epic Ryde. NOI $618K/yr. $8.542M. 7.24% cap.
6. MOB in Miami, Fl: 8467 SF Class-B medical office building across from Jackson Memorial Hospital and near University of Miami Hospital. Easy access to I-95/395 and Hwy-836. 100% leased to Fresenius Dialysis Center. $2.4M. NOI/Cap N/A.
7. Office Building in Champlin, MN: 8250 SF Class-B office building completed in 2001 on 1 ac lot in high income (AHI $100K/yr in 1 mile) Minneapolis suburbs. 100% NNN leased by two tenants. NOI $100K/yr. $1.262M. 8% cap.
8. Retail Center in Suwanee, GA: 18,360 SF high quality construction retail center built in 2002 on nearly 2 ac lot at a signalized corner location in growing and affluent Atlanta metro with an AHI of $107K/yr in 1 mile. Across from Walmart Supercenter and Lowe’s. 84% NNN leased with only 2 vacancies. NOI $374K/yr. $4.68M. 8% cap. Buyer to assume $2.037M loan at 5.87% interest rate.
9. Strip Center in Lakewood, WA: 12,962 SF well maintained strip center on 1.30 ac lot at a busy corner location in Seattle suburbs. 100% NNN leased. NOI $193K/yr. $2.671M. 7.25% cap.
10. Shopping Center in Houston, TX: 43,631 SF attractive shopping center built in 2004 on 4 ac lot anchored by 33,862 SF Family Thrift Center with 8 locations. Across from PlazAmericas Shopping Mall & next to Hwy-59. 91% NNN leased. Current NOI $320K/yr. $3.9M. 8.25% cap.

            (c) Transmercial 2014