08-23-10: Medical center - Hooters - Burger King restaurant - For sale

NOI: Net Oper Income—income after tax, insurance and maintenance expenses paid.

AHI: Avg. Household Income

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

NNN-: Triple net lease with landlord responsible for roof and structure.

1.      Plastic & Cosmetic Surgery Center in Plano, TX: 11,000 SF class-A surgery center on 1.25 acres lot  in affluent Dallas suburbs.  New 15 yrs absolute NNN lease to a Dr Robert Wilcox, a successful Plastic Surgeon (www.drwilcox.com) with over 20 yrs of experience.  NOI $363K/yr with 2% annual rent bump from the 3^rd year.  $4.033M. 9% cap.

2.      Retail plaza in Coconut Creek, FL: 19,194 SF class-A retail multi-tenant center built in 2004 on 3 acres lakeview lot North of Fort Lauderdale.  100% NNN leased.  NOI $344K/yr.  Price reduced from $5.2M to $4.9M. 7.5% cap.

3.      Strip Mall in Mesa, AZ: 6773 SF strip mall as part of a bigger shopping center just off Superstition Fwy.  100% NNN leased by 4 tenants.  NOI $171K/yr. $2.194M. 7.8% cap.

4.      Hooters Restaurant in Downers Grove, IL: 9744 SF restaurant on 1.43 acres lot on a major artery with easy access to I-355 and I-88 in  wealthy Chicago suburbs (AHI $95K/yr). Long term NNN lease.  Store with over $4.4M in sales.  NOI $260K/yr. $3.040M. 8.55% cap.

5.      Burger King in Rogers, AR: 3621 SF restaurant on .95 ac corner lot in a fast growing city South of Bentonville (headquarters of Walmart). Renovated in 2000.  New 20 yrs NNN lease to a franchisee with 9 locations.  Store with strong sales of over $1.89M in 2009.  NOI $144K/yr with 1.5% annual rent bump.  $1.6M. 9% cap.

6.      Apartments in Round Rock, TX: 224 unit 3-story class-A apartments developed in 2009 in fast growing, high income Austin metro within walking distance to major employer campuses.  Amenities include resort-style swimming pool, clubroom, business center and fitness center.  Over 90% occupied.  Unpriced.

7.      Shopping Center in Lacey, WA: 23,145 SF 14-unit shopping center on 2.29 acres parcel in growing and middle class Tacoma metro.  94% leased.  NOI $409K/yr. $5.25M. 7.79% cap.

© Copyright Transmercial 2010.  All rights reserved.