05-15: Retail Centers, Shopping Centers, Twin Peaks Restaurant

1. Retail Center in Okemos, MI: 13,124 SF well maintained retail center on 2.89 ac lot at a hard corner location in upper middle class Lansing suburbs. Close to Meridian Mall. Anchored by Pet Supplies Plus with over 280 locations. 100% NNN leased, just renewed 5 more years. NOI $176K/yr. $2.2M. 8% cap.
2. Strip Center in Canton, MI: 7200 SF attractive strip center built in 2010 on 1.31 ac lot in high income (AHI $99K/yr in 1 mile) Detroit suburbs. 100% NNN leased with 4 strong regional tenants. NOI $103K/yr. $1.334M. 7.75% cap.
3. Retail Center in Canton, MI: 10,240 SF retail center built in 2010 on 1.27 ac lot along main corridor in high income Detroit suburbs. Next to Walgreen’s. 100% NNN leased to 4 tenants. NOI $172K/yr. $2.227M. 7.75% cap.
4. Shopping Center in San Jose, CA: 50,020 SF well kept shopping center on 3.85 ac lot on the heavily-travelled Blossom Hill road. In high income Silicon Valley area with an AHI of $123K/yr in 3 miles. Near Hwy-85. 100% NNN leased. NOI $935K/yr. $17.999M. 5.20% cap.
5. Shopping Center in Libertyville, IL: 20,203 SF shopping center built in 2005 on 2.60 ac corner lot in affluent Chicago metro with an AHI of $213K/yr in 1 mile. 82% leased with one vacant unit. Seller will master lease the vacant space for 2 years.  NOI $274K/yr. $3.7M. 7.42% cap.
6. Shopping Center in San Antonio, TX: 16,092 SF attractive shopping center built in 2001 on 1.51 ac lot at a signalized location in a high income (AHI $131K/yr) area. Along major retail corridor and close to North Central Baptist Hospital. 100% leased. NOI $411K/yr. $5.48M. 7.50% cap.
7. Twin Peaks in O’Fallon, IL: 6815 SF restaurant on over 2 ac lot in Saint Louis suburbs on an off/on ramp of I-64. Adjacent to Power Center. New 20-yrs NNN lease. NOI $285K/yr 10% rent bumps every 5-yrs. $3.562M. 8% cap.

            (c) Transmercial 2014