09-09: Burger King, Family Dollar, Just Brakes, Davita, Strip Centers

1. Shopping Center in Goodyear, AZ: 22,737 SF attractive shopping center on nearly 3 ac lot in fast growing Phoenix suburbs. 89% leased with good tenant mix. NOI $292K/yr. $4M. 7.31% cap.
2. Office Building in Milburn, NJ: 5760 SF Class-B multi-tenant office building in a high income (AHI $139K/yr) New York metro. 60% leased. Actual NOI $74K/yr. $1.1M. 6.75% cap. Upside potential.
3. Burger King in San Antonio, TX: 2264 SF franchised fast food restaurant constructed in 2007 on .80 ac lot at a hard corner location. Across from H-E-B Plus Grocery Market and Kohl’s. 100% absolute NNN ground lease till 2032 (land is for sale, tenant owns the building). NOI $80K/yr with 7% rent bumps every 5-yrs. $1.34M. 6% cap.
4. Retail Center in Omaha, NE: 11,472 well maintained retail center completed in 2006 on 1.52 ac outparcel to Super Save Grocery and Kmart. 100% NNN leased. NOI $144K/yr. $1.866M. 7.75% cap
5. Family Dollar in Columbus, OH: 8108 SF renovated Family Dollar on .86 ac lot along main retail corridor in a fast growing area. Close to I-270. New 10-yrs NNN- lease. NOI $126K/yr. $1.688M. 7.50% cap.
6. Retail Center in Raleigh, NC: 14,897 SF well maintained retail center completed in 2000 on 1.88 ac lot in a growing (221% pop growth) and high income (AHI $98K/yr) area. 100% leased. NOI $144K/yr. $1.8M. 8.02% cap.
7. Just Brakes in Mesa, AZ: 3873 SF auto center on .62 ac lot in a growing and upper middle-class Phoenix suburbs. 100% NNN corp lease with 6-yrs left. NOI $96K/yr with 10% rent increases every 5-yrs. $1.25M. 7.68% cap.
8. DaVita in Chicago, IL: 7000 SF dialysis center at a corner location in densely populated area with nearly 500,000 residents in a 5 mile radius. Long NNN lease. Pro forma NOI $111K/yr with 1.5% annual rent increases. $1.48M. 7.5% cap.
9. Retail Center in Newark, CA: 7400 SF retail center on a major artery in San Francisco Bay Area.  100% leased to 5 tenants.  NOI $166K/yr.  $2.65M. 6.29% cap.
10. Strip Mall in Roseville, CA: 6479 SF strip center built in 2008 in affluent (AHI $109K/yr) Sacramento suburbs.  100% leased.  NOI $158K/yr.  $2.2M. 7.2% cap.

            (c) Transmercial 2014