08-21: AAP, Bank of America, Retail Centers

1. Retail Center in Romeoville, IL: 8158 SF attractive retail center built in 2009 on over 1 ac outparcel to 24-Hrs Walmart Supercenter and Sam’s Club in growing Chicago metro. Tenants include: Panda Express, Royal Cigar, Sport Clips, Sprint and Jersey Mike’s Subs. 100% NNN lased. NOI $220K/yr. $2.995M. 7.35% cap.
2. Shopping Center in San Antonio, TX: 23,673 SF high-quality construction center completed in 2006 on 4.65 ac lot in fast growing (222% pop growth since 2000) and affluent area with an AHI of $114K/yr in 3-mile radius. Close to North Central Baptist Hospital. 100% leased. NOI $516K/yr. $6.8M. 7.60% cap.
3. Retail Center in Katy, TX: 21,350 SF attractive retail center constructed in 2008 on over 2 ac lot in growing and affluent (AHI $132K/yr) Houston suburbs. Close to Hwy-99. 100% NNN leased. 7% cap. NOI/Price N/A.
4. Advance Auto Parts in Kentwood, MI: 7000 SF Advance Auto Parts on nearly 1 ac lot in Grand Rapids suburbs. Adjacent to Rite Aid and across from Walgreens. 20-yrs NN lease with over 4-yrs left. NOI $84K/yr. $1.05M. 8% cap.
5. Bank of America in Greenville, NC: 3800 SF well maintained Bank Of America on .91 ac corner lot along main corridor in fast growing area. 100% NNN corp recently extended lease with 4-yrs left.  NOI $93K/yr. $1.24M. 7.50% cap.
6. Retail Center in Phoenix, AZ: 16,888 SF well kept retail center on 1.22 ac lot in growing middle-class area. Next to CVS Pharmacy. 76% leased. NOI $186K/yr. $2.325M. 8% cap. Upside potential when fully leased.

(c) Transmercial 2014