12-05: Texas Car Title & Payday Loan, Just Brakes, Applebee's, Mixed-Use, MOB

1. MOB in Barkley, MI: 31,225 SF attractive medical office building on 2 ac lot at a hard corner location in high income (AHI $93K/yr in 1 mile) Detroit suburbs. Close to Beaumont Health System. 90% leased to established medical tenants. NOI $593K/yr. $6.75M. 8.80% cap.
2. Texas Car Title & Payday Loan in Irving, TX: 2375 SF attractive single-tenant retail building constructed in 1995 on .76 ac lot along major retail artery in growing Dallas/Fort Worth suburbs.  Tenant has been at this location since 2007. 100% recently renewed lease with 4-yrs left. NOI $66K/yr. $830K. 8% cap.
3. Retail Center in Lawrenceville, GA: 22,658 SF eye-catching retail center built in 2006 on 1.79 ac lot in fast growing (159% pop growth since 2000) and high income Atlanta metro with an AHI of $81K/yr in a 3-mile ring. 100% leased. NOI $244K/yr. $3.1M. 7.90% cap.
4. Shopping Center in Tempe, AZ: 31,723 SF recently renovated shopping center on over 3 ac lot at a signalized corner location in prosperous (AHI $128K/yr) Phoenix suburbs. Close to Hwy-101. Pro forma NOI $504K/yr. $6.8M. 7.40% pro forma cap.
5. Office Building in Las Vegas, NV: 23,056 SF Class-B multitenant office building completed in 2004 part of Origin Business Park. Close to Mountain View Hospital and Hwy-95. 86% leased to multiple tenants. NOI $208K/yr. $2.768M. 7.53% cap.
6. Just Brakes in Tempe, AZ: 4085 SF auto repair center on .58 ac lot at a highly visible location. Adjacent to Scott & White Memorial Hospital and Tempe Mall. 100% NNN corp lease with 5-yrs left. NOI $66K/yr. $825K. 8% cap.
7. Applebee’s in Vancouver, WA: 5580 SF newly remodeled Applebee’s restaurant on 1.59 ac lot at a main retail corridor in growing middle-class Portland suburbs. With easy access to I-205. 100% NNN lease with 10-yrs left. NOI $154K/yr. $2.818M. 5.5% cap.
8. Strip Center in Arvada, CO: 9066 SF well kept strip center on over 1 ac corner lot in Denver suburbs. 100% leased with stable and good tenant mix. NOI $127K/yr. $1.9M. 6.70% cap.
9. Mixed-Use Center in Garden Grove, CA: 6120 SF office/ retail center at a signalized location in densely populated Los Angeles area.  Across from Garden Grover Promenade Power Center. 95% leased. Actual NOI $73K/yr. $1M. 7.30% actual cap.

            (c) Transmercial 2014