09-30: Medical Office Buildings, Goodyear, Retail Plaza

1. Medical Office Condos in Lady Lake, FL: 4995 SF 2-tenant class-A medical office building in a fast growing inland city 30 minutes from Orlando. 100% NNN leased to FL Cancer Institute with 8 locations and Family doctors.  NOI $129K/yr with 4% annual rent bump.  $1.613M. 8% cap. 
2. Goodyear Auto in Saint Augustine, FL: 6684 SF auto repair center built in 2006.  100% NNN- corp lease.  NOI $160K/yr.  $1.773M. 9% cap. 
3. Medical Office building in Apple Valley, MN: 8445 SF 2-story single-tenant medical office building completed in 1990 in upper middle class Saint Paul metro (AHI $94K/yr.)  100% NNN- lease to Orthodontic Care Specialists with 20 locations.  NOI $153K/yr. with 2.5% rent bump every 2 yrs.  Tenant has been here for 10 yrs and just renewed lease for 5 more yrs.  $1.7M. 9% cap. 
4. Shopping Center in Schaumburg, IL: 59,256 SF shopping center built in 1999 in high income Chicago suburbs.  100% leased to 19 tenants.  NOI $821K/yr. $10.9M. 7.54% cap. 
5. Shopping Plaza in Homestead, FL: 35,723 SF 4 yrs old retail plaza in fast growing South Miami suburbs.  90% leased.  NOI $480K/yr. $6M. 8% cap.

© Transmercial 2011.