05-11: Smart & Final Extra, DaVita, Office Buildings, MOB's. Shopping Centers

1.      Shopping Center in Kissimmee, FL: 20,570 SF well maintained shopping center on nearly 2 ac lot along main corridor in growing Orlando suburbs. Close to Osceola Regional Medical Center. 100% leased with good tenants mix including Hertz Car Rental, Metro PCS, and Dr. Montero Dental. NOI $238K/yr. $3M. 7.95% cap. 

2.      Retail Center in Houston, TX: 12,400 SF recently remodeled retail center on 1 ac lot in growing and upper middle class area with an AHI of $84K/yr in 1 mile. With easy access to Hwy-249. 92% NNN leased to seven tenant s.  Actual NOI $133K/yr. $2.054M. 6.5% actual cap.

3.      Shopping Center in Longmont, CO: 53,142 SF consisting of two retail centers on over 5 ac  lot at a hard corner location in growing Denver MSA. Shadow anchored by Save a Lot grocery and Goodwill. Major tenants include: Fitness 19, Wells Fargo, Rent-A-Center Store, Jackson Hewitt, Cricket Wireless, Metro PCS, GNC and The UPS Store. 87% leased with mostly NNN leases. Actual NOI $590K/yr. $8.75M. 6.75% actual cap. Upside potential.

4.      MOB in Exton, PA: 15,068 SF attractive multitenant medical office building completed in 2001 in high income (AHI $107K/yr in a 3 mile radius) Philadelphia suburbs. 100% leased to three medical practices. NOI $319K/yr. $4.35M. 7.35% cap.

5.      Retail Center in Holly Hill, FL: 20,921 SF well maintained retail center on over 2 ac lot at a signalized intersection. Adjacent to Save-A-Lot grocery. Across from Winn-Dixie Supermarket and Family Dollar center. Strong tenant mix. NOI $147K/yr. $2.05M. 7.19% cap.

6.      MOB in Colorado Springs, CO: 15,013 SF Class-B medical office building constructed in 2005on 1.41 ac lot in upper middle class. Area. 100% NNN leased to five long term tenants. NOI $296K/yr. $4.3M. 6.89% cap.

7.      Smart & Final Extra in Elk Grove, CA: 27,060 SF brand new retail building on 2.84 ac lot at a hard corner location and along main thoroughfare in high income Sacramento suburbs. Close to Hwy-99. New 15-yrs NNN- lease. NOI $405K/yr with 10% rent bumps every 5-yrs. $7.955M. 5.10% cap.

8.      DaVita in Banning, CA: 6835 SF DaVita Dialysis Center built in 2003 on .63 ac lot in growing Riverside County. Between San Gorgonio Memorial Hospital and I-10. 100% NNN lease with 4-yrs left. NOI $148K/yr with 2.5% annual rent increases. $2.8M. 5.32% cap.

9.      Office Building in Houston, TX: 82,110 SF Class-B office building on 3.66 ac lot along busy corridor. 7.65% cap. NOI & price N/A.

10.   Office Building in Wilton Manors, FL: 18,471 SF well maintained multitenant office building at a high traffic location in Fort Lauderdale suburbs. 95% leased. Actual NOI $195K/yr. $2.75M. 7.10% cap.