12-12: Schlotzsky's Deli, Shopping Centers, Medical Office Buildings

1. Schlotzsky’s Deli in Aurora, CO: 2730 SF Schlotzsky’s Deli built in 1999 on ½ ac outparcel to 466,363 SF power center anchored by King Soopers, Old Navy, Marshalls, Ross, and an AMC Theaters.  Fast growing (168% since 2000) and affluent (AHI $154K/yr) Denver suburbs.  10 yrs NNN lease with 7.5 yrs left.  NOI $90K/yr with 5% rent bump every 5 yrs.  $1M. 9% cap.
2. Retail Center in Los Angeles, CA: 12,220 SF retail center remodeled in 2001 in densely populated area with over 1M residents in 5 miles.  100% leased to 2 national tenants: O’Reilly Auto Parts and Sherwin William Paints (S&P rating of A).  NOI $288K/yr with 12% rent bumps every 5 yrs from both tenants.  $4.4M. 6.5% cap. 
3. Retail Plaza in Salem, OR: 10,298 SF 7-unit retail plaza built in 2006 with easy access to I-5 in a growing area.  Across from Shopko and Winco Foods.  NOI $235K/yr. $2.45M. 9.59% cap. 
4. Shopping Center in Palmdale, CA: 104,811 SF shopping center built in 1994 on 9.76 acres next to Hwy 14 exit in fast growing city in Los Angeles.  Anchored by Michael’s, Bevmo, and Ashley Furniture.  100% NNN lease to 12 tenants.  NOI $1.513M. $19.25M. 7.9% cap. 
5. Shopping Center in Palmdale, CA: 15,250 SF shopping center as part of a power center anchored by Target, Lowes, Staples, Best Buy, Barnes & Nobles, Ross, TJ Maxx, Trader Joes and more.  100% NNN leased to 6 tenants: 5 of them national/regional.  NOI $491K/yr.  $6.2M. 8.2% cap. 
6. REO’ed Shopping Center in Vista, CA: 29,106 SF multi-tenant bank-owned shopping center on 2.43 ac corner lot in growing San Diego suburbs.  41% NNN leased to 7 tenants.  Priced below replacement cost.  Pro forma NOI $370K.  $2.8M. $13.2% cap. Just $96/SF.  Strong upside potential! 
7. Medical Office Building in Big Bear Lake, CA: 23,840 SF 2-story office building on 1.81 ac lot in a Ski resort town.  NOI $281K/yr.  $3.75M. 7.5% cap.  Seller financing available. 
8. Medical Office Building in Roseville, MI: single-tenant state-of-the-art medical office building completed in 2008 on .7 ac lot in Detroit metro with now highly-profitable auto industry.  10 yrs NNN lease till 2018 to McLaren Health Systems, a large hospital group with $4 billion  in revenue.  NOI $145K/yr. $1.6M. 9.07% cap.

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