04-27: Save Mart, Shopping Centers, Marsh, Medical Office building

1.       Save Mart Supermarket in Chowchilla, CA: 46,500 SF supermarket built in 2008 on 4.75 acres lot as the anchored tenant in a larger shopping center in San Joaquin Valley.  20 yrs NNN leased till 2028 to Save Mart, a regional tenant with 241 stores.  NOI $286K/yr with 14.28% rent bump in 2018. $4.1M. 7% cap.

2.       Shopping Center in Sacramento, CA: 40,676 SF 22-unit shopping center on 4.71 acres lot as part of 90,435 SF neighborhood center.  Anchored by AutoZone (included), Fresh & Easy Grocery (not included), O’Reilly auto parts (not included).  70+% NNN leased.  Current NOI $466K/yr.  $6.5M.  7.18% cap.  Strong upside potential when 100% leased.

3.       Shopping Center in Plantation, FL: 57,003 SF shopping center on 7.7 acres corner lot in affluent Fort Lauderdale metro (AHI $108K/yr in 1 mile). Across from 2.38 million SF Seagrass Mills Mall.  100% NNN leased to 4 strong national/regional tenants: Hhgregg Appliances, Mattress X-press, Quarterdeck Restaurant, and Jared Jewelry.  NOI $1.073M. $13.845M. 7.75% cap.

4.       Supermarket in Cincinnati, OH: 32,117 SF retail center on 8.85 acres corner lot in middle-class area.  100% NNN leased till 2026 to Marsh Supermarket, a regional food chain with 98 stores. NOI $380K/yr with 7% rent bump every 5 yrs.  $4.232M. 9% cap.

5.       Shopping Center in Columbus, OH: 21,609 SF shopping center built in 2007 on a prime commercial corridor with easy access to I-270.  Nearly 100% leased.  NOI $233K/yr. $2.995M. 7.8% cap.

6.       Retail Center in Adelanto, CA: 26,857 SF retail center built in2008 on 2.5 acres corner lot in fast growing (120% since 2000) Victorville area. 100% leased to 11 tenants.  NOI $250K/yr. $2.899M. 8.64% cap.  Just $107/SF!

7.       Medical Office Building in Kingwood, TX: 29,162 SF 5-yrs old medical office building on 2.72 acres lot across from 267-bed Kingwood Medical Center in growing & high income Houston Northern suburbs.  100% leased.  NOI $425K/yr. $4.85M. 8.78% cap.

8.       Shopping center in Lake Worth, FL: 27,936 SF upscale shopping center built in 2001 on 2,7 acres lot in fast growing middle class area in West Palm Beach.  100% lease.  NOI$305K/yr. $3.2M. 9.5% cap.

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