1. Wall-mart in Centralia, IL: 71,159 SF big box built in 1991 on 9.92 acres lot in a small town East of St Louis. 100% absolute NNN corp lease till 2017. NOI $284K/yr. $3.072M. 9.25% cap.
2. AutoZone in Odessa, TX: 6446 SF auto parts store on .71 ac lot in oil country. 20 yrs NNN- corp lease with 15 yrs remaining. NOI $60K/yr. $857K. 7% cap.
3. Apartments in Ann Arbor, MI: 136-unit well-maintained apartments in a college town (Univ of MI, Eastern MI Univ). Near St Joseph Mercy Hospital. NOI $448K/yr. $5.4M. 8.3% cap.
4. Dollar General in Jacksonville, FL: 9100 SF new dollar store in a dense, mature retail market. New 15 yrs NNN corp lease. NOI $115K/yr. $1.445M. 8% cap.
5. Dental Works in Fayetteville, NC: 4000 SF single-tenant dental office on .9 ac lot directly across from Wall-mart and Lowe’s. 10 yrs NNN lease to a regional tenant with 160 locations in 14 states. NOI $102K/yr with 10% rent bump in 5 yrs. $1.36M. 7.5% cap.
6. Retail Center in Richmond, CA: 12,000 SF strip center built in 2008 on 1.2 acres outparcel to Target next to I-80. 100% NNN corp leased to 3 national tenants: Davita, Payless Shoes, and Game Stop. NOI $369K/yr. $5.1M. 7.25% cap.
7. Medical Office building in League City, TX: 13,200 SF 4-yrs old class-A medical office building in fast growing (144% since 2000) Houston middle-class suburbs. 100% NNN leased to Christus Saint Johns hospital, Bay Colony MRI, and Univ of TX Medical Branch. NOI $176K/yr. $2.25M. 8% cap.
8. Shopping Center in Oklahoma City, OK: 204,082 SF shopping center with I-240 frontage. Anchored by 29,424 SF Dollar Tree, 10,500 SF Aaron Rentals, 16,000 SF Hancock Fabrics. 99% leased to 22 national/regional/local tenants with 1 small vacant unit. NOI $1.41M. $15.755M. 8.95% cap.
9. Office building in Clovis, CA: 8114 SF bank-owned class A office building. 60% leased to 2 tenants with 2 small vacant units. Proforma NOI $94K/yr. Price reduced to $750K. 12.6% cap.
© Transmercial 2011.
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