08-18: CVS Pharmacy, Big O Tires, DaVita, Strip Centers

1. CVS Pharmacy in San Bernardino, CA: 15,251 SF CVS Pharmacy on over 2 ac lot at a hard corner location. Adjacent to California State University San Bernardino. 24-yrs NNN corp lease with over 10-yrs left. NOI $353K/yr with 5% rent bumps every 5-yrs. $6.615M. 5.35% cap.
2. Shopping Center in Houston, TX: 32,618 SF attractive shopping center built in 2006 on 2.69 ac lot in a fast growing area. 100% leased. Pro forma NOI $452K/yr. $6.1M. 7.50% cap.
3. Big O Tires in Sacramento, CA: 5923 SF well maintained auto center on nearly 1 ac lot at a major retail corridor. 100% NNN lease with 4-yrs left. NOI $53K/yr. $750K. 7.08% cap.
4. Shopping Center in Midland, TX: 92,356 SF well maintained shopping center in growing oil/gas town. 100% NNN leased with national, regional and local tenants. NOI $669K/yr. $8.225M. 8.14% cap.
5. DaVita in Houston, TX: under construction DaVita Dialysis Center next to I-10. Long NNN lease. NOI $182K/yr. $2.919M. 6.25% cap.
6. Shopping Center in Newburgh, NY: 62,893 SF beautiful shopping center in growing and upper middle-class New York metro. Shadow anchored by Lowe’s. 100% leased to Michael’s, Barnes & Noble, Pier 1 and TGI Friday’s. 8% cap. NOI/Price N/A.
7. Retail Center in Albuquerque, NM: 23,184 SF retail center on over 2 ac lot. Next to Smith’s Grocery and Walgreens center. 90% NNN leased. 3.1M. NOI/Cap N/A.
8. Retail Center in Jeffersonville, IN: 19,500 SF retail center on 1.78 ac outparcel to Meijer Grocery. Just of Hwy-62. 100% NNN leased. NOI $216K/yr. $2.7M. 8% cap.
9.  Strip Center in Norton Shores, MI: 10,530 SF attractive strip center built in 2004 on 1.26 ac outpad to Lakeshore Marketplace with Hobby Lobby, TJ Maxx and Target. Close to The Lakes Mall and Hwy-31. 81% leased. NOI $130K/yr. $1.395M. 9.30% cap.

(c) Transmercial 2014