04-02: Taco Bell, Pizza Hut, Apartments, Arco AM/PM, Wendy's, Jiffy Lube

1. Shopping Center in Lake City, GA: 91,794 SF shopping center on 12.66 acres lot near Clayton State University in fast growing Atlanta metro.  Anchored by recently renovated Kroger Supermarket. 83% NNN leased to national and regional tenants: Dollar Tree, CATO, H&R Block and The UPS Store. NOI $893K/yr. $12.7M. 7.04% cap. Buyer to assume $10.5M loan at low 5.98% interest rate. 
2. Taco Bell in Lexington, SC: 2769 SF new relocated Taco Bell restaurant on 1+ ac lot across from Lexington Medical Center in Columbia metro. 100% absolute NNN lease with 19 yrs left. NOI $137K/yr with 2% annual rent increases. $1.836M. 7.5% cap.
3. Pizza Hut in Burlington, NC: 1459 SF delivery/carry–out Pizza Hut in densely retail corridor near Lowe’s, Sears, TJMaxx and Office Depot. 10 yrs absolute NNN lease to strong operator with 21 units.  NOI $58K/yr with 5% rent increases every 5 yrs. $727K. 8% cap. 
4. Apartments in Woodland, CA: 40-units well-maintained apartment complex close to parks and shopping centers. In growing and middle-class West of Sacramento. 90% occupied. NOI $126K/yr. $1.75M. 7.25% cap. 
5. Arco AM/PM Gas Station in Riverside, CA: 3000 SF gas station with convenience store on 1 acre lot adjacent to I-215 and Hwy-60/91 in densely populated area. Gas volume: 250,000 gal per month with $0.18 margin and convenience store’s sales of $130K/month. NOI $450K/yr. $4.5M. 10% cap. 
6. Best Buy in Hiram, GA: 30,258 SF big box single-tenant retail building constructed in 2007 on 3.52 acres lot across from Super Target anchored power center. Small foot print, i.e. more desirable store.  Along main retail corridor in fast growing Atlanta metro. 100% NNN lease with 6 yrs left. NOI $510K/yr. $5.83M. 8.75% cap. 
7. Shopping Center in San Antonio, TX: 30,726 SF well-kept shopping center near I-410/35. Tenants include: Fast Signs, Baptist Heath System, Centro Med Clinic, Army offices and Rio’s Golden Cuts. 92% leased. NOI $316K/yr. $3.8M. 8.33% cap. 
8. Apartments in Charlotte, NC: 107-units one/two bedroom multifamily building on 5+ acres lot in middle-class (AHI $66K/yr) neighborhood. Amenities include: swimming pool, laundry facility and clubhouse with business center. 85% occupied. NOI $252K/yr. $2.1M. 12% cap. Less than $20K/unit. 
9. Wendy’s in Midland, TX: 2264 SF single-tenant restaurant built in 1993 near Midland Memorial Hospital and next to busy seven-lane highway. Growing & high income oil and gas town with AHI of $81K/yr in 1 mile.  20 yrs NNN lease to largest Wendy’s franchisee. NOI $105K/yr. $1.312M. 8% cap. 
10. Jiffy Lube in Colorado Springs, CO: 3020 SF Jiffy Lube built in 1996 on .41 ac lot at a hard corner location & across from Albertson’s/Walgreens anchored center. 100% absolute NNN lease till 2026 to strong operator with 54 units. NOI $99K/yr with a 12.11% rent increase to $111K/yr in 2014. $1.35M. 7.34% cap now and 8.22% cap in 2014.

© Transmercial 2012.