01-20: Shopping Centers, Burger King, Pollo Tropical, Apartments, Advance Auto, Dollar Tree for sale

1.      Shopping Center in Selma, CA: 16,726 SF shopping center built in 1988 on 1.72 acres lot just off Hwy 99 South of Fresno.  100% NNN leased to 10 tenants with low avg rent of $1.06/SF.  NOI $196K/yr. $2.15M.  9.12% cap.

2.      Burger King in Naperville, IL: 2917 SF restaurant built in 1998 on .57 ac outparcel to a shopping center in affluent Chicago suburbs (AHI $127K/yr within 1 mile).  100% absolute NNN leased till 2024 to an operator with 48 locations.  NOI $121K/yr with 1% annual rent bump. Price reduced to 1.495M. $8.11% cap.

3.      Pollo Tropical Restaurant in Sunrise, FL: 3361 SF chicken and Caribbean restaurant built in 2000 on .75 acre lot.  100% NNN corp lease with 12 yrs remaining to Carol Corp (NASDAG: TAST, the largest restaurant operator in the US).  NOI $129K/yr.  Store with strong sales over $1.6M.  $1.79M. 7.25% cap.

4.      Apartments in East Palo Alto, CA: 20-unit apartments on ½ acre lot close to Stanford University in affluent area (AHI $154K/yr).  100% occupied.  NOI $147K/yr.  $2.499M.  Property in bankruptcy.  Need to sell quick.

5.      Office Buildings in Roseville, CA: 11,920 SF 3-building 9-suite medical office condos constructed in 1983 in middle-class Sacramento suburbs.  100% leased.  NOI $155K/yr. $1.71M. 9.09% cap.

6.      Pollo Tropical restaurant in Lake Park, FL: 2910 SF restaurant built in 2001 on .86 ac lot in high income North Palm Beach.  Next to Walgreens and across from Target, Lowe’s and Kmart.  100% absolute NNN leased till 2023 to Carol Corp (NASDAG: TAST, the largest restaurant operator in the US).  NOI $114K/yr.  $1.425M. 8% cap.

7.      Advance Auto Parts in Macomb, MI: 7000 SF Advance Auto built in 2007 in a fast growing an affluent city (AHI $90K/yr).  100% NNN- till 2024.  NOI $174K/yr. $2.125M. 8.2% cap.

8.      Dollar Tree Store in Greensboro, NC: 10,000 SF retail store built in 2009 on an outparcel to a 99,688 SF Food Lion anchored shopping center.  Fast growing, middle class area. 10 yrs NNN- lease.  NOI $99K/yr. $1.17M. 8.5% cap.  Recession resistant tenant.

9.      Strip Center in Roswell, GA: 13,290 SF upscale retail center built in 2008 in affluent Northern Atlanta suburbs (AHI $106K/yr).  90% NNN leased to 5 tenants.  NOI $205K/yr. $2.352M. 8.75% cap.

© Transmercial 2011.