05-29: Goodyear, Bi-Lo, Home Depot, MOB, Fresenius, Carino's, Retail center

1. Goodyear in Savannah, GA: 8484 SF Goodyear auto service center built in 2008 on 1.45 ac lot in prime commercial corridor with easy access to I-95.  100% NNN- corp lease till 2020.  NOI $214K/yr with 5% rent bumps in each 5 yrs options.  $2.864M. 7.5% cap. Note: no flyer for this property but full brochure available. 
2. Bi-Low Supermarket in Anderson, SC: 46,453 SF Supermarket built in 1993 on 5.16 ac lot across from 672,000 SF Anderson Mall.  20 yrs absolute NNN corp lease till 2014 to Bi-Lo LLC (S&P B+) with 210+ supermarkets in 4 states.  NOI $168K/yr (VERY low rent of $3.63/SF) with 17.8% rent bump in the next 5 yr option in 2014.  $2.04M. 8.25% cap. 
3. Strip Center in Berkeley Heights, NJ: 5734 SF strip center on ¾ ac lot in affluent (AHI $180K/yr) New York suburbs.  New roof and parking lot in 2011.  100% leased to 4 tenants.  NOI $114K/yr.  $1.45M. 7.87% cap. 
4. Home Depot in Henderson, NV: 102,370 SF Home Depot built in 1992 on over 9 ac lot in fast growing middle class Las Vegas metro.  Surrounded by Wal-mart, Lowes, Best Buy, Bed Bath & Beyond, Costco, Sport Chalet, Kohl, and more.  100% NNN leased till 2018.  NOI $1.07M with 40% rent bump in the next option (looks like tenant receives rent concession which means tenant may renew at rent lower than its option rent).  $15.9M. 6.75% cap. 
5. MOB in Denton, TX; 3822 SF single-tenant medical office building completed in 2000 on .62 ac lot in upper middle-class (AHI $96K/yr) Dallas suburbs.  Part of a beautiful medical office park.   100% NNN lease till 2016 to an ENT – Allergy specialist. NOI $56K/yr with generous 5% annual rent bump.  Just $704K.  8% cap. 
6. Fresenius Dialysis in Gardendale, AL: 8800 SF dialysis center built in 2000 on .72 ac lot in high income Birmingham suburbs.  Tenant has expanded this location twice in past 18 months.  100% NNN lease till 2020.  NOI $175K/yr. $2.127M. 8.25% cap. 
7. Carino’s Italian Grill in Longmont, CO: 6938 SF Italian restaurant built in 1999 on 1 ac lot in affluent Denver’s suburbs (AHI $104K/yr).  Across from Twin Peaks Mall.  100% NNN lease till 2016 to Carino’s with 140+ locations.  NOI $152K/yr with 1.5% annual rent bump. $2.028M. 7.5% cap. 
8. Retail center in Bloomington, IL: 13,010 SF retail center on 1 ac lot near St Joseph Medical center and Eastland Mall.  100% leased to 3 tenants, one of them a commercial bank. NOI $199K/yr. $2.1M. 9.5% cap. 
9. Office Building in Valley Stream, NY: 24,000 SF 2-story office building on 1.12 ac lot in high income (AHI $110K/yr in 3 miles), densely-populated (over 650K residents in 5 miles) NY metro. Parking lot for 100 cars.  95% leased.  NOI $329K/yr. $4.17M. 7.9% cap.

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