12-29: Walgreens, CVS, Retail center, Office building for sale

1.      Walgreens in Louisville, KY: 10,578 SF drug store on a corner lot.  100% NNN lease with 20 yrs remaining.  NOI $77K/yr.  $1.185M. 6.5% cap.  Note: this is the least expensive Walgreens Transmercial is aware of.  The price is primarily based on net income.

2.      Retail center in Sacramento, CA: 26,720 SF retail center with easy access to Hwy 50.  Remodeled in 2006 with new roof, HVAC, electrical, & plumbing. 100% leased to 3 tenants: Kelly Moore Paints, A&A Appliances, A&A Lighting.  NOI $275K/yr. $3M. 9.17% cap.

3.      Walgreens in Avondale, PA: 12,000 SF drug store built in 2003 on 2.7 acres corner lot in affluent Philadelphia suburbs.  15 yrs NNN- lease with 8 yrs remaining.  NOI $213K/yr. $2.558M. 8.35% cap.

4.      CVS in Baltimore, MD: 12,608 SF drug store built in 1998 on .91 ac corner lot in a busy artery in densely-populated area.  100% NNN lease with 8 yrs remaining.  NOI $235K/yr. (increased to $249K in 2013).  $2.85M. 8.25% cap.

5.      Shopping Center in Morrisville, PA: 68,179 SF 17-unit shopping center on 8.5 acres corner lot in upper middle class Philadelphia suburbs.  Anchored by 28,000 SF Sears Appliances and Hardware.  Shadow anchored by Giant Supermarket.  88% leased.  NOI $590K/yr. $5.9M. 10% cap.

6.      Shopping Center in Wynantskill, NY: 22,800 SF shopping center anchored by Family Dollar store with a new 10 yrs lease.  NOI $212K/yr. $2.5M. 8.5% cap.

7.      Walgreens in Orlando, FL: 15,930 SF drug store built in 1996 on 1.4 acres corner lot.  100% NNN lease.  NOI $273K/yr. $3.643M. 7.5% cap.

8.      Single Retail Center in  San Dimas, CA: 15,120 SF single-tenant retail center as part of a larger neighborhood center in a middle class area.  100% leased to Pacific Kitchen & Bath, a regional tenant with 41 locations in 3 states.  100% NNN lease with very low rent of $.55/SF.  NOI $95K/yr. $1.483M.  6% cap. Just over $100/SF.  Upside potential as tenant has option at (believed to be higher) fair market rent.

9.      Office Building in Houston, TX: 23,065 SF 2-story office building on a major road in upper middle class area.  94% leased by 13 tenants.  NOI $161K/yr. $1.78M. 9.04% cap.

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