Tuesday, April 2, 2013

03-19: IHOP, Walgreens, Advance Auto Parts, MOB


  1. IHOP in Oak Ridge, TN: 3820 SF IHOP Restaurant renovated in 2009 on .62 ac outparcel to Wal-Mart Supercenter just West of Knoxville suburbs. Adjacent to mall being re-developed and cross from Kroger/K-Mart center. 20 yrs absolute NNN lease with 16+ yrs left to a strong franchisee with 11 units. NOI $180K/yr. $2.25M. 8% cap. NOTE: flyer not available, full brochure upon request.  
  2. Walgreen’s in Phoenix, AZ: 13,905 SF Walgreens pharmacy built in 1999 on 2½ ac lot at a signalized intersection with good ingress/egress.  20 yrs NNN- corp lease with 6 yrs left. $2.995M. 8.34% cap.  
  3. Office Building in Cary, NC: 14,568 SF Class B all-brick office building constructed in 1995 on 1.48 ac lot in growing and high income area with an AHI of $96K/yr in 3 mile radius. 100% NNN leased. NOI $195K/yr. $1.95M. 10% cap.  
  4. Advance Auto Parts in South Sioux City, NE: 7000 SF Advance Auto Parts built in 2000 on .65 ac corner lot at a main corridor. 100% NNN- recently extended lease with 11+ yrs left. NOI $69K/yr. $992K. 7% cap.  
  5. Strip Center in Cumming, GA: 13,560 SF consisting of two retail buildings on 1.92 ac lot in fast growing and affluent (AHI $106K/yr) Atlanta metro. Across from 470,000 SF Avenue Forsyth, an open-air, specialty mixed-use project. 90% NNN leased. NOI $62K/yr. $3.11M. 8.50% cap.  
  6. MOB in Livermore, CA: 7415 SF well maintained medical office building on .50 ac lot in affluent city (AHI $110K/yr in 3mile) in Northern CA. Adjacent to Valley Care Medical Center. 100% leased to Medical, Dental, Optometry and Pediatric Podiatry tenants. NOI $95K/yr. $1.614M. 5.90% cap.  
  7. Retail Center in Lakewood, CA: 3600 SF attractive retail building constructed in 2005 on .27 ac lot on a major artery in Los Angeles with over 500K residents in 5 miles. Across from Tri-City Regional Medical Center, near Long Beach Towne Center and off/on I-605 ramp. 100% NNN leased to 7-Eleven and Dan Goldman’s Cash For Gold. NOI $135K/yr. $1.695M. 8% cap. 
  8. Apartments in Fresno, CA: 22-units well kept apartment complex on .82 ac lot. Renovation underway for 2nd phase Solar system. Close to Hwy-99. 91% occupancy. NOI $101K/yr. $1.45M. 7% cap.  
  9. Shopping Center in Cedar Park, TX: 30,798 SF shopping center in fast growing and high income Austin suburbs. National tenants including Hertz, Quick Cash & Popeye’s and Rent-A-Center. 69% NNN leased. NOI $234K/yr. $2.932M. 8% cap. Upside potential when fully leased. 
  10. Shopping Center in Cottonwood Heights, UT: 25,490 SF attractive shopping center built in 2002 on nearly 2 ac lot in densely populated and high income (AHI $113K/yr) Salt Lake City suburbs. 89% leased to nine tenants. NOI $285K/yr. $3.4M. 8.40% cap.

© Transmercial 2013
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