02-15: Medical Office Buildings, Shopping Center, Sonic, Office Building for sale

1.      Medical Office Building in Austin, TX: 42,767 SF medical office building on 2.16 acres lot in main Austin medical district.   Near Seton medical center in wealthy area with AHI  $96K/yr in 1 mile.  98% occupied with 97% medical tenants.  NOI $584K/yr. $6.8M.  8.6% cap.

2.      Shopping Center in Glendale, AZ: 34,673 SF recently built shopping center on a major road in Phoenix metro.  Anchored by Family Dollar store.  Pro forma NOI $360K/yr. $2.75M.  13% (pro forma) cap.  Priced below replacement cost.

3.      Retail center in Orland Park, IL: 20,974 SF 10-unit retail center on 1.63 acres lot in high income (AHI $82K/yr) Chicago suburbs.  90% leased.  Pro forma NOI $219K/yr. $2.595M. 8.5% cap.

4.      Sonic Drive-in in San Antonio, TX: 1100 SF restaurant built in 1999 on .56 acre lot.  100% NNN corp lease with 8 yrs remaining.  NOI $54K/yr.  Just $771K.  7% cap.

5.      Tire Kingdom Auto Center in Brunswick, GA: 9500 SF auto service center renovated in 2008.  100% NNN leased till 2019.  NOI $132K/yr with 7% rent bump every 5 yrs.  $1.508M. 8.5% cap.

6.      Office Building in Houston, TX: 144,149 SF 6-story class B office building on 2.4 acres lot in middle-class Clear Lake area.  Near University of Houston in Clearlake and just East of Johnson Space Center.  Six-level access-controlled parking garage with designated VIP and visitor parking. 88% occupied.  $14M. 11% cap.

7.      Strip center in Arlington, TX: 14,050 SF retail center on 1.254 acres lot on State Hwy 360 in stable Dallas metro.  100% NNN leased to 4 tenants, 2 of them medical with long term leases.  NOI $179K/yr. $1.875M. 9.59% cap.

8.      Strip Mall in Edinburg, TX: 10,700 SF strip mall on a pad in front of Wal-mart in fast growing McAllen metro (57% since 2000).  Adjacent to The University of Texas - Pan American (enrollment 17,534).  88% NNN lease.  Current NOI $170K/yr. $2.125M. 8% cap.  Upside when 100% leased.

9.      Medical Office Building in Aurora, IL: 10,000 SF multi-tenant medical office building near Provena Mercy medical Center in Chicago suburbs.  NOI $96K/yr.  $1.2M. 8% cap.

10.   Shopping Center in Port Arthur, TX: 24,089 SF 5-yrs-old shopping center adjacent to Wal-mart Supercenter in Oil refineries town 1.5 hrs from Houston.  86% leased to CATO Fashion, Curves for Women, Check N Go, Dollar Tree, JP Morgan Chase Bank, Nail Salon, and Shoe Show.  Current NOI $259K/yr. $2.883M.  9% cap.

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