12-27: Chick-Fill-A, CVS Pharmacy, Office Park

• AHI: Avg. Household Income.  National average is about $50+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1.  Chick-Fil-A in Walnut Creek, CA: 4671 SF drive-thru chicken restaurant on .66 ac lot adjacent to 24 Hour Fitness and close to I-680. In wealthy city (AHI $92K/yr in 1 mile) East of San Fran. 15-yr absolute NNN corp ground lease (land is for sale, tenant owns the building). NOI $137K/yr. with 10% rent bumps every 5-yrs. $2.7M. 5.10% cap. 
2. CVS in Beaumont, TX: 10,908 SF pharmacy on 1.91 acres lot at a busy signalized intersection close to Beaumont Baptist Herman Memorial Hospital. 100% NNN lease till 2037. NOI $220K/yr. $3.325M. 6.62% cap.
3. Retail/Office Building in Orlando, FL: 10,695 SF newly constructed retail/office building close to publics anchored center. 88% NNN leased. NOI $185K/yr. $1.85M. 10% cap. 
4. Retail Center in Phoenix, AZ: 7534 SF well-maintained retail center shadow-anchored by Walgreens. NNN leased to good tenants. NOI $147K/yr. $1.639M. 9.01% cap. 
5. Office Park in Fort Myers, FL: 82,106 SF well-kept office buildings close to I-75 in high income Cape Coral metro. 90% leased. NOI $627K/yr. $7M. 9% cap. 
6. Office Building in Upland, CA: 5092 SF multi-tenant office building on ½ acre and next to I-10  in growing San Bernardino county.  NOI $58K/yr. $850K. 7% actual cap. 
7. Office Building in Artesia, CA: 7388 SF 2-story office building constructed in 2008 at highly visible/busy location and close to Fwy-91 in Los Angeles suburbs. 100% leased. NOI $176K/yr. $2.2M. 8% cap. 

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