11-04: Rite Aid, CVS, Shopping Centers, Office Buildings For Sale

1.      Rite Aid in Revere, MA: 15,040 SF Rite Aid drug store on 1.34 acres lot in Boston metro.  20 yrs NNN lease.  NOI $338K/yr. $3.962M. 8.55% cap.

2.      Shopping Center in Hawthorn, CA: 17,675 SF 15-unit retail center on 1.3 ac lot at the intersection of 2 major arteries.  Easy access to I-105, I-110, and I-405.  770K residents within 5 miles. High barrier to entry.  92% leased with 1 small vacant unit.  NOI $517K/yr. $5.9M. 8.77% cap.

3.      Shopping Center in Rowlett, TX: 49,273 SF 4-tenant shopping center built in 1994 on 5.52 acres lot in high income Dallas suburbs.  Anchored by Big Lots! 100% occupied.  NOI $427K/yr. $4.449M. 9.62% cap.

4.      Office Building in Orlando, FL: 55,078 SF class-B office building developed in 2001 on 6.47 acres lot in 3.3 million SF Central FL Business Park. 100% NNN leased by Northrop Grumman (NYSE: NOC) and Qantum3D.  NOI $701K/yr. $8.2M. 8.5% cap.

5.      Shopping Center in Columbia, MD: 23,700 SF shopping center built in 1989 on 4.33 acres lot in a 5,000,000 SF defense industry business park.  Upper middle class Washing DC/Baltimore suburbs.  87% NNN leased.  Pro forma NOI $392K/yr.  $4.7M. 8.4% cap.

6.      Shopping Center in Anderson, SC: 82,342 SF 9-unit well-maintained re-developed shopping center on 9.6 acres lot in a growing city.  Anchored by 3 tenants: 35,922 SF Cross country Home Service (national call center), Family Dollar, and 19,880 SF Babcock Furniture.  91% leased.  NOI $377K/yr. $3.7M. 10.15% cap.

7.      Shopping Center in Highland, CA: 121,619 SF attractive shopping center on 10 acres lot in Sacramento metro. Anchored 60,849 SF Raley’s Supermarket. 84% leased.  NOI $1.224M.  $13.8M. 8.9% cap. Just over $113/SF!

8.      CVS Pharmacy in Jonesboro, GA: 10,722 SF drug store built in 1997 on a major artery in Atlanta metro.  100% NNN leased till 2017.  NOI $213K/yr.  Price reduced to $2.28M. 9.4% cap.

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