03-30: Rite Aid, Arbys, AutoZone, distressed center

1. Rite Aid in Liverpool, NY: 10,908 SF Rite Aid built in 1999 on 1.84 ac lot in upper middle-class Syracuse metro. 20 yrs NNN- lease with 7 yrs left.  NOI $206K/yr. $1.95M. 10.6% cap. 
2. Distressed Shopping Center in Sparks, NV: 78,522 SF shopping center on 5.6 ac lot in the growing Reno metro.  80% leased.  NOI $546K/yr. $5.2M. 10.5% cap. 
3. Arbys in Mesa, AZ: 2600 SF Arbys on .69 ac lot in prime commercial area with AHI over $82K/yr in Phoenix metro.  20 yrs absolute NNN ground lease with 8 yrs left (land is for sale, tenant owns the building).  NOI $72K/yr with generous 15% rent bumps every 5 yrs (next one in 11/2014).  $1.2M. 6.1% cap now and 6.97% in 2014.
4.  AutoZone in Indio, CA: 5000 SF auto parts store built in 1995 on .54 ac outparcel to Cardenas Grocery Store & CVS, and across from Indio Fashion Mall.  100% NNN with 3 yrs left.  NOI $121K/yr. $1.625M. 7.5% cap. 
5. 24-Hr Fitness Center in Papillion, NE: 35,000 SF single-tenant fitness center built in 2001 on 3.28 ac lot in affluent Omaha suburbs (AHI $103K/yr in 1 mile).  Across from Target and Home Depot.  15 yrs NNN- lease with 4 yrs left.  NOI $690K/yr. with 10% rent bumps during 5 yrs options. $6.9M. 10% cap.            
6. Shopping Center in Lawrenceville, GA: 20,781 SF shopping center built in 2010 on 2.17 ac lot with Grayson hwy frontage.  Excellent visibility and demographics (106% growth, AHI $80K/yr). 100% NNN leased to 11 tenants.  NOI $292K/yr. $3.75M. 7.8% cap.

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