08-09: CVS, Rite Aid, RSC Equipment, Napa Auto, Office Buildings, Goodyear Auto, Tuffy Auto

1. CVS in Orlando, FL: 13,013 SF drug store with double drive-thru built in 2005 on 1.56 acres lot at the intersection of 2 major arteries.  25 yrs NNN corp lease with 19 yrs remaining.  NOI $376K/yr with rent bumps in options.  $5.185M. 7.25% cap. 
2. Rite Aid in Fort Mill, SC: 14,487 SF drug store on 1.84 acres corner lot in fast growing middle class Charlotte metro.  New 15 yrs NNN lease.  NOI $284K/yr.  $3.35M. 8.5% cap. 
3. Retail/Office Center in Reno, NV: 51,515 SF retail office complex built in 1988 on 4.69 acres corner lot.  77% leased with current NOI of $368K/yr.  $4.6M. 8% cap.  Upside potential when 100% leased. 
4. RSC Equipment Rental in Columbia, SC: 17,270 SF single-tenant retail center on 3.57 acres lot.  10 yrs NNN corp lease to RSC Equipment Rental, one of the largest equipment rental providers.  NOI $120K/yr. $1.2M. 10% cap. 
5. Tuffy Auto in Omaha, NE: 3900 SF auto repair center built in 2007 on .63 ac lot in fast growing (195% since 2000) and affluent (AHI $102K/yr in 1 mile radius) city.  20 yrs NNN corp lease to Tuffy with 220 centers.  NOI $111K/yr with 7.3% rent bump in 2013.  $1.369M. 8.15% cap. 
6. Office Building in Wichita, KS: 9750 SF office building completed in 2007 on .85 acre lot in prime commercial corridor.  High income and fast growing area.  100% NNN leased to 6 good tenants: dentist, lawyer, insurance company, psychologist, chiropractor and a pre-K academy.  NOI $125K/yr. $1.5M. 8.38% cap. 
7. Bank-owned Office Building in Hillsboro, OR: 31,119 SF 2-story class-A office building constructed in 1999 on 1.15 acres with basement parking in middle class Portland metro.  NOI $354K/yr. $3.85M. 9.2% cap. 
8. Strip Center in La Habra, CA: 3500 SF strip center built in 2006 on .4 ac corner at an intersection of 2 major arteries.  High income and densely populated city in Southern CA.  100% NNN leased to 3 tenants.  NOI $95K/yr. $1.428M. 6.63% cap. 
9. Retail Center in Kennesaw, GA: 11,400 SF upscale retail center in fast growing  and high income Atlanta suburbs.  Across from Publix Supermarket, and in front of ITT Technical Institute.  100% NNN leased to 6 good tenants: Dunkin Donuts, AT&T, H&R Block, Jet’s Pizza, La Bamba Mexican Restaurant, Elite Beer & Wine.  NOI $255K/yr. $3.295M. 7.75% cap. 
10. Goodyear Auto Service in Kissimmee, FL: 6840 SF auto service center on 1+ acre in growing middle class Orlando. 15 yrs NNN corp lease.  NOI $151K/yr.  Price reduced to $1.795M. 8.5% cap.

© Transmercial 2011.