09-19: Office Building, Strip Center, Rite Aid, Big O tires, Office Depot

1. Office Building in Brookfield, WI: 45,479 SF 3-story multi-tenant office building on 3.45 ac lot in affluent Milwaukee suburbs with AHI of $153K/yr in 1 mile.  83% leased.  NOI $265K/yr. $2.7M. 9.3% cap.  
2. Strip Mall in Norfolk, VA: 7181 SF strip center built in 2007 next to Military Circle Mall.  100% leased.  NOI N/A. $1.65M.  
3. Rite Aid in Elk Grove, CA: 17,272 SF drug store built in 2010 on 2.5 ac lot in high income (AHI $97K/yr), high growth Sacramento metro. 20 yrs NNN lease with minimal landlord responsibilities. NOI $596K/yr. $7.946M. 7.5% cap. 
4. Big O Tires in Queen Creek, AZ: 6712 SF auto service center built in 2011 on 1.09 ac lot in upper middle class area in Phoenix suburbs with explosive growth.  100% absolute NNN lease till 2031.  NOI $153K/yr.  with 10% rent bumps every 5 yrs.  $2.186M. 7% cap.  
5. Office Depot in Mesquite, TX: 22,500 SF Office Depot on 2.18 ac lot in Dallas metro.  Near Town East Mall and visible from I-635.  10 yrs absolute NNN corp lease. NOI $247K/yr. $3.132M. 7.9% cap.

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