Tuesday, August 5, 2014

07-22: MOB,. Mimi's Cafe, Dairy Queen, Retail Centers

  1. Shopping Center in Tulare, CA: 119,432 SF well maintained shopping center on over 6 ac lot anchored by 30,026 SF Rite Aid, 20,237 SF Grocery Outlet, 13,077 SF Fitness Evolution, 5000 SF Aaron's Rent, 4286 SF DMV and 14,280 SF Dollar Tree at a signalized intersection. 91% NNN leased. NOI $1.077M/yr.  $14.55M. 7.41% cap. Upside potential when fully leased. NOTE: flyer not available, full brochure upon request.
  2. Cosmopolitan Orthodontics in Prior Lake, MN: 2924 SF Class-A single-tenant office building on .68 ac lot in growing and high income Minneapolis suburbs with an AHI of $113K/yr.  10-yrs NNN- leased to an experience operator. NOI $65K/yr with annual rent increases. $765K. 8.50% cap.
  3. MOB in Woodridge, IL: 10,135 SF medical office building completed in 1995 on .89 ac lot in high income (AHI $91K/yr in 3-miles) Chicago Metro. Close to I-355. 94% leased to multiple tenants. NOI $107K/yr. $1.375M. 7.85% cap.
  4. Mimi’s Café in Omaha, NE: 7170 SF French-inspired franchised family restaurant constructed in 2004 on over 1 ac outparcel to Village Pointe, a 602,000 SF upscale open-air shopping mall. Close to Methodist Women’s Hospital and next to Hwy-6. 20-yrs NNN lease with 10-yrs left. NOI $193K/yr with 10% rent bumps every 5-yrs. $2.766M. 7% cap.
  5. Dairy Queen in Cedar Hill, TX: 2882 SF drive-thru fast food restaurant in Dallas/Fort Worth suburbs. On an off/on ramp of Hwy-67. 100% absolute NNN lease with 14-yrs left to 2nd largest DQ franchisee in the nation. NOI $93K/yr with 10% rent increases every 5-yrs. $1.4M. 6.70% cap.
  6. Retail Center in Jacksonville, FL: 12,400 SF attractive retail center at a busy retail corridor. Between Walmart Supercenter and I-295. 100% leased to Radio Shack, E B Games, Pharmacy, 1000 Cell Phones, Designer Eyeware and Smart Clips. Price/NOI/Cap N/A.
  7. Retail Center in Las Vegas, NV: 10,987 SF retail center built in 2007 on 1.33 ac lot at a hard corner location in a high income area with an AHI of $89K/yr in 1 mile. 79% NNN leased. Actual NOI $173K/yr. $2.33M. 7.43% cap.

            (c) Transmercial 2014
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