08-23: Smokey Bones Bar & Fire Grill, Wendy's, Walgreen's, Office Buildings

1. Smokey Bones Bar & Fire Grill in Tampa, FL: 7060 SF restaurant built in 1993 on 1.80 ac lot at the entrance of Westfield Town Center Mall just off I-75 on/off ramp in a fast growing Tampa metro.  100% absolute NNN lease with 15+ yrs left to a strong operator.  NOI $275K/yr with annual rent increases. $3.925M. 7% cap. Full brochure avail upon request.
2. Shopping Center in Lynnwood, WA: 23,534 SF fully renovated shopping center on 1.93 ac lot at a signalized intersection of Hwy-99 in growing city just North of Seattle. Anchored by Starbucks and AutoZone. 94% NNN leased. NOI $408K/yr. $5.37M. 7.60% cap.
3. Wendy’s in Tucker, GA: 2844 SF Wendy’s restaurant on .75 acres lot across Publix Supermarket in high income (AHI $87K/yr) Atlanta metro and near I-285 and Hwy-78.  20 yrs NNN lease with 13 yrs left to strong operator with 58 units. NOI $88K/yr with 1.5% annual rent increases. $1.215M. 7.25% cap.
4. Centennial Fine Wine and Spirits in The Colony, TX: 5500 SF liquor store on .66 ac lot with Hwy-121 frontage in affluent Dallas suburbs (AHI $107K/yr in 3 miles). 15 yr absolute NNN lease to Centennial Fine Wine & Spirits, a regional chain.  NOI $137K/yr. with 10% rent bumps every 5 yrs. $1.833M. 7.50% cap.
5. Retail Building in La Quinta, CA: 6400 SF attractive retail building built in 2005 on .48 ac lot in affluent Riverside County with an AHI of $138K/yr within 1 mile. 100% NNN leased to El Mexicali Café and Louise’s Pantry. NOI $149K/yr. $2M. 7.46% cap.
6. Retail Center in Katy, TX: 20,000 SF well maintained retail center on 2+ ac lot in fast growing (50.22% pop growth since 2000) prosperous (AHI $162K/yr in 1 mile) Houston metro. 100% leased to 10 tenants. NOI 353K/yr. $4.285M. 8.25% cap.
7. Walgreens in Hayward, CA: 15,120 SF Walgreens built in 2000 on 1.55 ac corner lot in San Francisco Bay Area. Outparcel to Mission Plaza: a 89,000 SF anchored center.  25 yrs NNN lease till 2025.  NOI $424K/yr with rare 10% rent bump during option period.  $7.083M. 6% cap.
8. Office Buildings in Edmond, OK: 25,658 SF office buildings constructed in 2001 in growing and high income Oklahoma City suburbs. 75% leased with only 2 units available. NOI $200K/yr. $2.5M. 8% cap.
9. Office Building in Dallas, TX: 9206 SF well maintained single-tenant office building in affluent Uptown Dallas (AHI $100K/yr in 1 mile). Close to I-35E and Fwy-366. 100% NNN lease with 5 yrs left. NOI $275K/yr. $2.75M. 10% cap.

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