1. Burger King in West Palm Beach, FL: 3039 SF restaurant being rebuilt on .86 acre outparcel. New 17.5 yrs NN corp lease at close of escrow. NOI $147K/yr with 5% rent bump every 5 yrs. $1.96M. 7.5% cap.
2. Sonic Restaurant in Homestead, FL: 1645 SF brand new restaurant on .79 acre outparcel to Kohl's, Ross, Sports Authority, Staples, Bed, Bath & Beyond and Michael's Anchored Shopping Center in Miami suburbs. 20 yrs absolute NNN lease. NOI $160K/yr with 7.5% rent bump every 5 yrs. $1.89M. 8.5% cap.
3. Bank-owned Retail Office center in Las Vegas, NV: 21,704 SF 2-story retail office building constructed in 2004. Anchored by 11,897 SF Korean grocery store. 86% leased. Current NOI $136K/yr. $1.68M. 8.11% cap.
4. Buffalo Wild Wing in Tyler, TX: 6000 SF franchised restaurant built in 2008 on 1.39 acres lot in fat growing and high income city (AHI $89K/yr. in 1 mile). 15 yrs absolute NNN lease. NOI $211K/yr with 9% rent bump every 5 yrs. $2.561M. 8.25% cap.
5. Advance Auto Parts in Houma, LA: 7000 SF AAP built in 2008 on ¾ ac lot in growing middle class area. 15 yrs NNN- with 12 yrs remaining. NOI $140K/yr. $1.783M. 7.9% cap.
6. Aetna Office Building in Columbia, SC: 40,000 SF 2-story class-A single-tenant office building on 5.89 acres lot with easy access to I-77. 20 yrs lease to Aetna (NYSE: AET, S&P rating A+) wit 8 yrs remaining. NOI $630K/yr. $7.885M. 8% cap.
7. Family Dollar Store in Richton park, IL: 8000 SF Family Dollar in growing and middle class Chicago suburbs. 10+ yrs NNN- lease. NOI $99K/yr. $1.17M. 8.5% cap.
8. Taco Bell in Muncie, IN: 3042 SF restaurant built in 2007 on .43 acre outparcel to a 259,000 SF shopping center anchored by Harbor Freight Tools, Staples, Dollar Tree, Jo-Ann Fabrics, Big Lots, and Hobby Lobby. 100% NNN corp ground lease (land is for sale) by Yum! Brands. NOI $60K/yr with 10%n rent bump every 5 yrs (next on in 2012). $888K. 6.75% cap now and 7.43% in 2012.
© Transmercial 2011.
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