08-25: Strip Centers, Jack in the Box, Shopping Centers

1. Strip Center in Westbury, NY: 5450 SF sell maintained strip center in high income New York suburbs with an AHI of $103K/yr in a 3 mile radius. 100% leased. NOI $94K/yr. $1.45M. 6.50% cap.
2. Jack in the Box in Antioch, CA: 2624 SF drive-thru restaurant on .93 ac outparcel to Walmart in Northern CA. Adjacent to Antioch WaterPark. Close to Hwy-4. 100% absolute NNN lease with 6-yrs left. NOI $151K/yr. $2.8M. 5.40% cap.
3. Shopping Center in Macomb Township, MI: 87,787 SF attractive shopping center on nearly 12 ac lot at a hard corner location in growing and upper middle-class Detroit suburbs. Anchored by Dollar General and Aco Hardware. NOI $576K/yr. $7.2M. 8% cap.
4. Strip Center in Cedar Park, TX: 8000 SF strip center on 1 ac outparcel to Walmart in growing Austin suburbs. Close to Cedar park Regional Medical Center. Tenants include: Mattress Firm, Jet’s Pizza & Brush 32 Dental. 100% NNN leased. NOI $195K/yr. $2.6M. 7.50% cap.
5. Retail Center in Burleson, TX: 18,525 SF retail center built in 2008 on 2.25 ac lot along main retail corridor in Fort Worth MSA. Adjacent to Super Malmart. Pro forma NOI $200K/yr. $2.658M. 7.5% pro forma cap.

(c) Transmercial 2014