09-04: AutoZone, Jiffy Lube, Taco Bell, Apartments, MOB, Retail Centers

1.       AutoZone in Carpentersville, IL: 7500 SF single-tenant retail building along major retail corridor in high income Chicago suburbs with an AHI of $93K/yr within 1 mile. Across from Spring Hill Mall with Macy’s, Sears and Kohl’s. 100% NNN leased with 10+ yrs left.. NOI $90K/yr. $1.5M. 6% cap.

2.       Jiffy Lube in Fort Worth, TX: 2070 SF two-bay auto center on .52 ac lot in a fast growing area. Easy access to I-820.  20 yrs absolute NNN lease with 12 yrs left to a strong franchisee with 110 units. NOI $64K/yr with rent increases every 5 yrs. $891K. 7.25% cap.

3.       Taco Bell in Tampa, FL: 2216 SF drive-thru fast food restaurant built in 1997 on .77 ac lot along a six lane thoroughfare. 100% NNN lease with 9 yrs left. NOI $114K/yr. $1.91M. 6% cap.

4.       Retail Center in Tempe, AZ: 5982 SF attractive retail center on .67 ac outparcel to Safeway grocery in affluent (AHI $112K/yr in 1 mile) Phoenix suburbs. 100% leased to Tempe Smiles Family Dental, Rita’s Ice and Trader’s Smoke Shop. NOI $108K/yr. $1.502M. 7.25% cap.

5.       Retail Center in Lincolnwood, IL: 18,880 SF well maintained retail center at a hard corner location.  Anchored by Starbucks since 1996. Densely populated (with over 700,000 residents in 5 mile radius) and high income (AH 103K/yr in 1 mile) Chicago suburbs.  76% leased to seven tenants. Pro forma NOI $300K/yr. $3.325M. 9.02% pro forma cap.

6.       Office Building in Sarasota, FL: 6462 SF Class-B office building close to Court House, Government Offices, Police Headquarters and more. 100% leased with professional tenants. NOI $62K/yr. $1M. 6.25% cap.

7.       MOB in Parker, CO: 13,966 SF Class-B medical office building in high income Denver suburbs. Near Parker Adventist Hospital. NNN leased. NOI $214K/yr. $2.4M. 8.92% cap.

8.       Apartments in Fort Wayne, IN: 206-unit well maintained apartment complex on 15 acres of land. Close to parks, Shopping Centers and University of Fort Wayne. 100% occupied. NOI $639K/yr. $7.999M. 8.30% cap.

9.       Retail Center in Mesquite, TX: 22,812 SF attractive retail center on 2.82 ac lot in high income (AHI $81K/yr) Dallas suburbs. Next to Hwy-352 and near Texas Regional Medical Center. 73% leased. NOI $153K/yr. $1.6M. 9.59% cap.

© Transmercial 2013