08-19: Mimi's Cafe, MOB, Retail Centes, Shopping Centers

1. Shopping Center in Goodyear, AZ: 39,974 SF attractive shopping center on over 5 ac lot in fast growing Phoenix suburbs. Shadow anchored by Safeway Grocery. Good tenant mix: H&R Block, UPS, Leslie’s Pools, Papa Murphy’s and Great Clips. 72% NNN leased.  7% cap. NOI/Price N/A.
2. Mimi’s Café in Omaha, NE: 7170 SF French Inspired franchised Restaurant built 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 absolute NNN lease with 10-yrs left. NOI $193K/yr with 10% rent bumps every 5-yrs. $2.766M. 7% cap.
3. Retail Center in Cincinnati, OH: 16,290 SF well maintained retail center on 1.29 ac lot. Across from Tri-County Mall and close to I-275. 100% leased to six tenants. NOI $362K/yr. $4.14M. 8.75% cap.
4. Retail Center in Alsip, IL: 11,238 SF retail center in upper middle-class Chicago suburbs. Tenants include: Cleaners, Hair Salon, Sedona Staffing, Sail Phone, Barber Shop and Restaurant. 100% NNN leased. NOI $137K/yr. $1.45M. 9.50% cap.
5. MOB in Layton, UT: 31,077 SF Class-B medical office building completed in 2003 on nearly 2 ac lot in growing Salt Lake City suburbs. Close to Davis Hospital & Medical Center, Layton Hills Mall and I-15. 100% leased to multiple-tenants. NOI $305K/yr. 4.213M. 7.25% cap.
6. Retail Center in Humble, TX: 15,500 SF attractive retail center constructed in 2013 on 1.45 ac lot in fast growing Houston suburbs. Close to Deerbrrok Mall and I-69. 100% NNN leased to Family Dollar, Midwestern Financial, Little Caesar, K3 Child Care and Cleaners. NOI $233K/yr. $3.224M. 7.25% cap.
7. Retail Center in Waukegan, IL: 12,430 SF well kept retail center in growing Chicago suburbs. Across from Target and Jewel-Osco Grocery. 89% NNN leased to Harris Bank, EZPawn and Virgin Mobile. NOI $165K/yr. $1.7M. 9.75% cap.
8. Office Building in Ventura, CA: 34,243 SF Class-B office building on 1.25 ac lot in growing upper middle-class Southern California. 94% leased to a fine mix of tenants led by Fresenius Medical Care. Actual NOI $357K/yr. $5.95M. 6% actual cap. Upside potential when fully leased.
9. Office Building in Las Vegas, NV: 19,394 SF Class-A medical office building at a hard corner location and in high income area. Across from Albertson’s & CVS center. Close to 340-bed Mountain View Hospital and Hwy-95. 95% leased. NOI $207K/yr. $2.75M. 7.54% cap.
10. Retail Center in Arlington, TX: 19,957 SF retail center built in 1998 in growing and affluent (AHI $109K/yr) Fort Worth suburbs. 94% leased. NOI $335K/yr. $3.95M. 8.50% cap.

(c) Transmercial 2014