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1. Walgreens in Oakland, CA: 24,429 SF drug store on 1.55 acres parcel in an area with high barrier to entry. Store with strong sales. 100% NNN lease till 2017. NOI $300K/yr (very low rent of $1/SF). $4.285M. 7% cap.
2. Arby’s in Indianapolis, IN: 2800 SF restaurant on .41 acres outparcel to Speedway Shopping Center, a 575,000-square foot community shopping center anchored by Kroger, Kohl’s, Sears, Dollar Tree and Petco. 100% absolute NNN lease to Arby’s Restaurant Group with 5 yrs remaining. NOI $152K/yr. $1.645M. 9.25% cap.
3. Retail Plaza in McAllen, TX: 11,400 SF high-quality retail center on 1.17 acres outparcel to Wal-mart and Sam’s Club. Across from Lowe’s. High income & growing area. 74% NNN leased. Pro forma NOI $206K/yr. $1.95M. 10.6% cap.
4. Wendy’s in Cypress, TX: 3397 SF built in 2004 on .97 acres outparcel to Kroger Supermarket in high growth, high income Houston suburbs. Close Hwy 290. New 20 yrs absolute NNN lease. NOI $112K/yr with 7% rent bump every 5 yrs. $1.426M. 7.75% cap.
5. Applebee’s in Saint Paul, MN: 5448 SF family restaurant on 1.57 acres lot at a major off-ramp of I-35E in wealthy area. Long term NNN lease to 63-store franchisee. NOI $219K/yr with 10% rent bump every 5 yrs. $2.585M. 8.5% cap.
6. Apartments in Houston, TX: 240-unit class-B apartments built in 1980 on 7.9 acres of land in Northern Houston. 52% occupied. Pro forma NOI $570K/yr. $3.9M. 19% pro forma cap. Just over $16K/unit.
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