Friday, August 1, 2014

07-18: MOB, Shopping centers, Autozone, PepBoy Auto. Napa Autoparts

1.       Medical Office Building in Garland, TX: 12,438 SF 2-story medical office building on 1.97 ac lot in Dallas metro.  100% leased to 6 medical/dental tenants.  NOI $97K/yr. $969K. 10% cap.
2.       Shopping Center in Brownstown Township, MI: 36,168 SF shopping center constructed in 2005 on 4.65 ac parcel in a growing & middle class Detroit suburbs.  Anchored by CVS pharmacy.  Near Ford' s Woodhaven Stamping Plant, Lowes, Home Depot, Kroger, Kohl' s & Walmart.  100% leased.  NOI $433K/yr. $5.252M. 8.25% cap.
3.       Shopping Center in Concord, CA: 45,200 SF shopping center on 3.7 ac lot in high income San Francisco suburbs (AHI $91K/yr).  Anchored by TJ Maxx and Beverly's Fabric and Craft.  Shadow anchored by 99 Cents Only. 91% leased.  NOI $385K/yr. $6.5M. 5.92% cap.
4.       Shopping Center in Roseville, CA: 22,650 SF well-maintained upscale shopping center on 3.38 ac lot in upper middle-class Sacramento metro.  Excellent visibility with 3 points of ingress/egress. 78% NNN leased to 12 tenants with 4 vacant units.  Current NOI $314K/yr. $4.495M. 7% cap.  Upside potential when fully leased.
5.       Retail Center in North Richland Hills, TX: 22,260 SF retail center built in 2008 in affluent Dallas suburbs (AHI $143K/yr in 1 mile).  Excellent visibility.  Close to Walgreens, Walmart supercenter.  $100% leased.  NOI $440K/yr. $5.5M. 8% cap.
6.       Autozone in San Bernardino, CA: 10,500 SF autoparts center on .66 ac lot near Inland Center Mall with easy access to I-215.  100% NNN- leased.  NOI $126K/yr. $2.027M. 6.25%cap.
7.       Pepboy Auto in Rochester, NY: 22,358 SF autoparts and auto service center near I-390 exit.  100% absolute NNN ground lease (land is for sale) with 13 years left.  No landlord responsibilities.  NOI $146K/yr. $2.44M. 6% cap.
8.       Napa Autoparts in Vallejo, CA: 7465 SF autoparts store in San Francisco metro on .6 ac lot. 100% NNN- leased till 2024.  NOI $117K/yr with rare 10% rent bumps every 5 yrs.  $1.957M. 6% cap.

            (c) Transmercial 2014

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