01-31: Auto center, Office max, Arbys, Car Wash, Starbucks for sale

1.      NTB Auto Center in Lilburn, GA: 11,082 SF National Tire & Battery auto service center built in 2005 on 1.25 acres in affluent region in North East Atlanta.  100% NNN corp lease with 15 yrs remaining.  NOI $180K/yr with CPI-based rent bump every 5 yrs. $2.255M. 8% cap.      

2.      Office Max in Phoenix, AZ: 18,000 SF Office Max built in 2008 in Wal-mart Supercenter anchored shopping center in fast growth (195% since 2000!) area.  100% NNN- corp lease with 7 yrs remaining.  NOI $306K/yr. (bumped to $324K in 2013) $3.308M. 9.28% cap now and 9.8% cap in 2013.

3.      Arby’s in Red Bluff, CA: 2692 SF restaurant built in 1989 on 1.08 acres lot in front of Wal-mart and near I-5 exit in Northern CA.  100% NNN lease with 12 yrs remaining from an operator with 70+ units.  NOI $70K/yr. $1M. 7.08% cap.

4.      Shopping Center in Rialto, CA: 34,385 SF 12-unit shopping center built in 2006 on a 5.3 aces corner lot across from Home Depot and Food 4 Less. Anchored by Walgreens with several national tenants: Wendys, El Pollo Loco, Little Caesar, ACE Cash Express.  95% NNN lease.  NOI $809K/yr. $11.4M. 7.1% cap.  Buyer to assume $8.76M loan (77% LTV) at low 5.65% interest. 

5.      Car Wash in Sunnyvale, CA: 3150 SF Car wash built in 2007 on 2/3 acres corner lot in prime commercial corridor in Silicon Valley (AHI $113K/yr). Just one mile from 98 acres $300M Apple campus.  50 yrs NNN ground lease with 47 yrs remaining (land is for sale).  NOI $144K/yr with 10-15% rent bump every 5 yrs.  NOI $144K/yr. $2.195M.  6.55% cap.

6.      Starbucks in Texas City, TX: 1733 SF Starbucks built in 2008 on .46 acre Across Street from BP Corporate Office and Kroger.  100% NNN- corp lease with 8 yrs remaining.  NOI $93K/yr.  Price reduced to $1.07M.  8.7% cap.

7.      Strip Center in Aurora, CO: 3516 SF retail center built in 2006 on an outparcel to 278,000 SF shopping center anchored by Target, Office Max and Petsmart in fast growing (174% since 2000) and affluent (AHI $119K/yr) Denver suburbs.  100% leased to Starbucks and a local jewelry store.  NOI $105K/yr. $1.35M. 7.8% cap.

© Transmercial 2011.