02-02: Wells Fargo, CVS, Popeye’s, West Marine, Sonic for sale

1.      Sonic in Suwannee, GA: 1715 SF drive-in restaurant on 1.07 acres lot next to Walmart and across from Lowe’s near I-85 exit in high growth (140% since 2000) and high income (AHI $132K/yr) Atlanta suburbs.  New 20 yrs absolute NNN lease from a multi-unit operator.  NOI $106K/yr with 1.2% annual rent bump.  $1.192M. 8.91% cap. Ideal for 1^st time investors.

2.      Wells Fargo Bank in Burlington, NC: 4347 SF single-tenant recently-remodeled retail building on 1 acre lot across from 475,000 SF Burlington Square Mall in middle class area.  Tenant has been at location since 1969 and just renewed 5 more yrs till 11-2015.  100% NNN ground lease (land is for sale, tenant owns the building).  NOI $61K/yr with 10% rent bump every 5 yrs.  $823K. 7.5% cap.

3.      CVS Pharmacy in Miami, FL: 10,908 SF drug store on 1.65 acres corner lot in high growth, high income area.  Store with strong & increasing sales of $7M/yr.  100% NNN lease with 10 yrs remaining. NOI $286K/yr. $4.093M. 7% cap.

4.      Office Building in Campbell, CA: 15,554 SF multi-tenant office building on 1.16 acres lot  near the intersection of Hamilton and San Tomas in high income Silicon Valley. $1.944M.  Just $125/SF.

5.      Popeye's Chicken in Cincinnati, OH: 2912 SF restaurant built in 2003 on 1.25 acres lot near I-275 in middle-class area.  New 20 yrs NNN lease from a multi-unit operator.  NOI $80K/yr with 10% rent bump every 5 yrs.  $950K.  8.5% cap.

6.      West Marine in Buford, GA: 14,620 SF brand new single-tenant retail center on 1.25 acres lot in fast growing Atlanta suburbs and on the way to 38,000-acre Lake Lanier.  10 yrs NN corp lease to West Marine (NASDAG: WMAR with $250M market cap).  NOI $215K/yr. with 10% rent bump every 5 yrs.  $2.873M. 7.5% cap.

7.      CVS in Fort Washington, MD: 10,125 SF drug store on 1.47 acres corner lot adjacent to National Harbor, a 300-acre mixed-use waterfront development, which includes five hotels, two marinas and the largest convention center on the East Coast. upper middle class area 15 minutes from downtown Washington, D.C. 100% NNN- with 10 yrs remaining.  NOI $219K/yr. with rent bumps.  $3.128M. 7% cap 

8.      Strip center in Mountain View, CA: 6600 SF strip center on El Camino Real in a high income Silicon Valley town (AHI $136K/yr) where Google headquarters campus is located. 100% leased.  NOI $89K/yr. $1.795M. 5% cap.

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