08-30: Kmart, KFC, Learning Exp, Walgreens, Rite aid, Subway, Payless Shoes, MOB

1. Kmart in US Virgin Island: 104,231 SF big box built in 1993 on 5.7 ac lot in US Virgin Island.  100% NNN lease with 6 yrs left to Kmart, anchored tenant in a 200,000 SF center. NOI $959K/yr. $11.5M. 8.35% cap.  
2. KFC in Silverdale, WA: 2242 SF KFC on .68 ac outparcel to 110-store Kitsap Mall.  Remodeled in 2009 to new KFC image.  100% absolute NNN lease with 19 yrs left.  Store with strong sales of over $1.1M/yr.  NOI $72K/yr. $1.125M. 6.4% cap.  
3. Retail Center in Apple Valley, CA: 19,400 SF newer construction retail center on 1.5 ac corner lot with Hwy 18 frontage in high income area (AHI $85K/yr).  73% NNN leased.  NOI $201K/yr.  $2.231M 9% cap. Upside potential.  
4. Learning Experience in Parker, CO: 11,000 SF brand new childcare center on 1.24 ac lot in fast growing & affluent Denver suburbs (AHI $112K/yr in 3 miles).  15 yrs NNN- lease to The Learning Experience, a childcare provider with over 200 locations in 38 states. NOI $282K/yr with 10% rent bumps every 5 yrs.  $3.135M. 9% cap.  
5. Walgreens in Glen Burnie, MD: 13,650 SF drug store built in 2004 on 2.14 acres lot at the main entrance to 1.069 Million SF Marley Station Mall in Washington DC/Baltimore suburbs.  100% absolute NNN lease with 17.5 yrs left.  NOI $395K/yr. 6.583M. 6% cap.  
6. Rite Aid in Louisville, OH: 14,564 SF drug store built in 2008 on 1.57 ac lot in Akron metro with double drive thru windows.  20 yrs NNN lease with 16+ yrs left.  NOI $419K/yr with 10% rent bump every 10 yrs.  $4.532M. 9.2% cap.  
7. Walgreens in Lake Worth, FL: 13,905 SF Walgreens built in 2000 on 2.13 ac corner lot in high growth, high income South Palm Beach.  100% NNN- lease with 9 yrs left.  NOI $305K/yr. $4.207M. 7.25% cap.  
8. Subway in Sacramento, CA: 1250 SF free-standing restaurant on a corner lot across from UC Davis Medical Center. 10 yrs NNN lease with 8 yrs left.  NOI $43K/yr. with generous 4% annual rent bumps. Only $725K. 6% cap.  
9. Payless Shoes in Topeka, KS: 4055 SF single-tenant retail center on .74 ac lot across from Westridge Mall. 100% absolute NNN corp lease with 8 yrs left.  Tenant has been here for 18 yrs.  NOI $89K/yr. $1.235M. 7.24% cap.  
10. MOB in Sylvania, OH: 2990 SF single-tenant medical office building completed in 2002 on .52 ac lot in middle-class Toledo.  100% NNN corp lease with 8 yrs left to Affordable Dentures, a national tenant. NOI $75K/yr with CPI-base rent bumps in 2013 and 2018.  $998K. 8% cap.

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