12-03: Save-a-Lot, Urgent Care, Starbucks, Strip Mall, Advance Auto For Sale

1. Save A Lot Grocery in Chicago, IL: 16,920 SF newly rehabbed (to be completed in 2/2011) single-tenant retail center.  10 yrs NN corp to Save A Lot Grocery with 1200 locations in 39 states.  NOI $206K/yr.  $2.423M. 8.5% cap.
2. Urgent Care Center in North Port, FL: 6500 SF medical urgent care center built in 2009 in fast growing Port Charlotte metro. 100% NNN leased till 2019 to Health Management Associates, Inc. (NYSE: HMA) currently operating 58 hospitals with $5B revenue. NOI $202K/yr. with generous 3% annual rent bump. $2.7M. 7.5% Cap.
3. T-Mobile in Austin, TX: 2761 SF single-tenant retail center on .6 ac corner lot.  Shadow anchored by Walgreens.  New 7 yrs NNN lease.  NOI $91K/yr with 10% rent bump every 5 yrs. $1.175M. 7.75% cap.
4. Starbucks Coffee in Austin, TX: 1795 SF free-standing drive-thru building on .48 acre lot at hard signalized corner close to I-35. 100% NNN- leased till 2018. No Early Termination clause.  NOI $88K/yr. $1.174M. 7.5% Cap.
5. Shopping Center in Hickory, NC: 70,756 SF neighborhood multi-tenant center on over 10 acres of land anchored by Fresh Air Galaxy Foods (chain with 200 locations) and Dollar General. 99% leased. NOI $478K/yr. $4.780M. 10.01% Cap.
6. Strip Mall in Kenosha, WI: 3138 SF 2-tenant strip center built in 2005 on a corner lot.  100% leased by 2 national tenants: Starbucks and EZ Payday Loan.  NOI $96K/yr. $1.174M. 8.26% cap.
7. Shopping Center in Oak Park, IL: 22,760 shopping center conveniently located at signalized intersection in densely-populated (over 850K residents in 5 miles ring) high income (AHI $99K/yr). 100% NNN leased with excellent tenant mix: Dunkin Donuts, US Cellular, Check ‘n Go and UPS. NOI $446K/yr. $5.335M. 8.37% Cap.
8. Office Building in Flower Mound, TX: 11,013 SF office building in an affluent city in Dallas suburbs (AHI $111K/yr in 1 mile ring).  100% leased.  NOI $221K/yr. $2.6M. 7.9% cap
9. Office Building in Riverside, CA: 12,000 well-maintained two-story office building with excellent visibility at infill location. Average rent less than $1 per SF. 92% leased. NOI $84K/yr. $1.1M. 7.7% Cap.
10. Advance Auto Parts in Brownsville, TX: 7000 SF Advance Auto Part retail building constructed in 2004 on .67 acre pad in fast growing area. 100% NNN leased with 9 yrs remaining. NOI $85K/yr. $1.401M. 8.25% Cap.

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