12-01: JIB, Rite Aid, Del Taco, Total Wine, Red Robin, Joe's Crab Shack, Century 21, MOB

1. Jack In the Box in San Antonio, TX: 2760 SF JIB restaurant on .69 ac lot on a busy highway in growing and high income area.  100% absolute NNN corp lease with 9 yrs remaining. NOI $114K/yr with CPI-based rent bump every 5 yrs.  $1.51M. 7.58% cap. 
2. Shopping Center in Cypress, TX: 17,500 SF shopping center completed in 2004 on 1.68 acres lot as part of a large neighborhood center near Northwest Fwy.  in Houston suburbs. Excellent demographics: AHI $112K/yr in 3 miles and 206% pop growth since 2000.  100% NNN leased to 9 tenants.  NOI $354K/yr. $4.3M. 8.25% cap. 
3. Rite Aid in Macomb Township, MI: 14,564 SF Rite Aid constructed in 2009 on 2.75 acres corner lot in a wealthy township with AHI $121K/yr in 1 mile.  20 yrs absolute NNN lease with 18 yrs left.  NOI $427K/yr with rare 10% rent bump every 10 yrs.  $4.886M. 8.75% cap. 
4. Retail Plaza in Santa Clara, CA: 5410 SF retail center built in 2006 on .41 ac lot in prime commercial corridor in high income Silicon Valley (AHI $111K/yr).  100% leased to 2 tenants.  NOI $201K/yr.  Price reduced to $2.9M. 7% cap. 
5. Del Taco in Aurora, CO: 2315 SF fast food Mexican restaurant built in 2005 on 1.35 acres pad to 1.7 Million SF Southlands Mall in booming (605% since 2000) and affluent (AHI $124K/yr) Denver suburbs.  20 yrs absolute NNN lease with 19 yrs left.  NOI $150K/yr with min 10% rent bump every 5 yrs. $1.935M. 7.75% cap. 
6. Total Wine Superstore in Rancho Cucamonga, CA: 25,000 SF single-tenant retail center on 3 ac lot next to I-15 in high income (AHI $91K/yr) and high growth (47%).  Across from 180,000 SF Sears Grand store.  10 yrs NNN lease till 2019 to Total Wine, a regional tenant with 71 superstores in 10 states.  Store with strong sales of $315/SF and 30% higher than last year.  NOI $519K/yr. $8.3M. 6.25% cap.
7.  Red Robin in Rancho Cucamonga, CA: 7067 SF Red Robin on 1.3 acres corner lot near I-15 in well-off area.  15 yrs NNN- till 2020.  NOI $156K/yr. $2.6M. 6% cap. 
8. Joe’s Crab Shack in Rancho Cucamonga, CA: 7400 SF seafood restaurant on 1.68 ac corner lot next to I-15 on ramp in high income area.  20 yrs absolute NNN lease to Joe’s Crab Shack, a national chain with 128 locations in 28 states, with 13 yrs left.  NOI $108K/yr with 10% rent bump every 5 yrs.  Store with strong $3.25M in sales (low rent to income ratio of 3.3%, i.e. highly profitable).  $1.8M. 6% cap. 
9. Century 21 in Rancho Cucamonga, CA: 15,000 SF single-tenant retail center on 1.48 acres lot with I-15 visibility & n3ext to 180,000 SF Sears Grand store.  10 yrs lease with 4 yrs left.  NOI $200K/yr. $2.5M. 8% cap.  Price below replacement cost. 
10. Medical Office Building in Aurora, CO: 9602 SF 2-story medical office building on .78 ac lot on a major artery in Denver metro.  100% leased to 6 doctors.  NOI $104K/yr. $1.067M. 9.75% cap.

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