1. Rite Aid in Columbia, SC: 14,673 SF drug store built in 2008 on 1.69 acres lot in middle class area. 20 yrs NNN lease with 17 yrs remaining. NOI $295K/yr with 10% rent bump every 10 yrs. Price reduced to $3.277M. 9% cap.
2. Shopping Center in Miami Gardens, FL: 20,810 SF 2-tenant retail center built in 2008 on 1.84 acres lot across from Wal-mart in densely populated North Miami. Anchored by 18,760 SF Office Depot with long term NNN lease till 2023a and 10% rent bump every 5 yrs. NOI $346K/yr. $4.75M. 7.3% cap.
3. Shopping Center in New Port Richey, FL: 14,000 SF 8-unit shopping center built in 2007 on 2.74 acres parcel in front of Lowe’s and across from Home Depot and Kohl. 92% NNN leased 7 national/regional tenants with 1 small avail unit. NOI $318K/yr. $3.9M. 8.16% cap.
4. hhgregg in Orlando, FL: 33,154 SF single-tenant big box on 2.37 acres lot with $1.2M renovation paid by tenant in 2007. Across from 1,849,000 SF 270-store Florida Mall. 15 yrs NNN leased to Gregg Appliances Inc. (a regional, publicly traded company, NYSE: HGG) with 174 stores. NOI $522K/yr. with rent bump every 5 yrs. $6.33M. 8.25% cap.
5. Fizzle’s Restaurant in Huntsville, AL: 4640 SF restaurant on 1 acre lot. New 15 yrs NNN lease to a local chain with 4 locations. NOI $84K/yr. $850K. 9.9% cap.
6. Office Building in Redding, CA: 30,858 SF 2-story office building constructed in 1992 on 1.73 acres lot. 47% occupied by National University, Second Largest Private Non-Profit Institution of Higher Learning in CA. Current NOI $222K/yr. $3.15M. 7.06% cap. Strong upside when 100% occupied.
7. Advance Auto in Houma, LA: 7000 SF auto parts store built in 2008 on 2/3 ac lot in a growing city (18% since 2000) with good income (AHI $62K/yr). 15 yrs NNN- corp lease with 12 yrs remaining. NOI $140K/yr. $1.783M. 7.9% cap.
8. Sonic Drive-in in San Antonio, TX: 1100 SF restaurant built in 1999 on .56 ac lot. 100% NNN corp lease with 8 yrs remaining. NOI $54K/yr. just $771K. 7% cap.
9. Walgreens in Fresno, CA: 14,820 SF drug store built in 2004 on 1.86 acres corner lot in affluent area (AHI $114K/yr in 1 mile) of the city. 25 yrs NNN lease with about 20 yrs remaining. NOI $381K/yr. $5.45M. 7% cap.
10. Strip Center in Longwood, FL: 4669 SF 2-tenant strip center on .46 ac lot in high visible intersection in Orlando metro. 100% NNN leased to 2 regional/national tenants: Amscot Financial (15 yrs corp lease) and metro PCS. NOI $155K/yr. $1.75M. 8.9% cap.
(c) Transmercial 2011
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