11-07: Strip Mall, Del Taco, Wendy's, Deaconess Health Systems, Office Building

1.       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.  Remodeled in 2012. 100% NNN leased to Tempe Smiles Family Dental (13 locations) , Rita’s Ice (600+ stores) and Trader’s Smoke Shop with multiple locations. NOI $108K/yr. $1.502M. 7.25% cap.

2.       Office Building in Sacramento, CA: 14,000 SF Class-B office building on 1.40 ac lot along main retail artery in growing and upper middle-class area. Close to 700,000+ SF Country Club Plaza, with Ross, Macy's, Sports Chalet, Off Broadway Shoe, Office Depot, Anna's Linens, Bed Bath & Beyond, Michaels, Walmart & Sam's Club. 100% leased. Pro forma NOI $142K/yr. $1.595M. 9% cap.

3.       Strip Center in Newark, CA: 5720 SF well maintained strip center on .61 ac lot in high income city in San Fran metro with an AHI of $115K/yr.  Shadow anchored by Mi Pueblo grocery and CVS Pharmacy center. Across from Safeway and Raley’s grocery centers. 100% NNN leased to 2 tenants. NOI $115K/yr. $1.8M. 6.42% cap.

4.       Del Taco in Greeley, CO: 2240 SF Del Taco restaurant on .80 ac lot in a growing area North of Denver.  Across from Greeley Mall.  20 yrs absolute NNN lease with 15 yrs left.  NOI $132K/yr. $1.82M. 7.25% cap.

5.       Retail Center in Jonesboro, GA: 19,600 SF attractive retail center on 2+ ac lot at a major retail artery in fast growing Atlanta suburbs. 100% leased. NOI $170K/yr. $1.625M. 10.50% Cap.

6.       Deaconess Health Systems in Edmond, OK: 11,000 SF Class-A build-to-suit single tenant medical office building on 1.26 ac lot in growing (164.54% pop growth) and high income (AHI $97K/yr) Oklahoma City suburbs. 100% NNN lease with 6 yrs left. NOI $332K/yr with annual CPI rent increases. $4.237M. 7.84% cap.

7.       Shopping Center in Duluth, GA: 32,019 SF shopping center completed in 2007 on 2.40 ac lot at a prominent retail artery in Atlanta suburbs. Close to Gwinnett Place Mall and I-85. 100% leased. NOI $325K/yr. $4.3M. 7.56% cap.

8.       Wendy’s in Brownsville, TX: 3471 SF Wendy’s restaurant built in 2004 on .86 ac lot in a high growth border city. Close to Sunrise Mall and Hwy-83/77. Newly executed 10 yrs absolute NNN ground lease (land is for sale) to an experienced franchisee with over 25 units. NOI $66K/yr with 2% rent increases starting in 2019. $995K. 6.65% cap.

9.       Retail Center in Kingwood, TX: 11,700 SF attractive retail center on 1.22 ac lot at major retail corridor. High growth & high income Houston suburbs.  Close to 248-bed Kingwood Medical Center and I-69. 80% leased. Actual NOI $192K/yr. $2M. 9.60% cap. Upside potential.

            (c) Transmercial 2013