06-09: Walgreen's, MOB, Surgery Center, BEALLS, Mixed-Use, Dickey's Restaurant

1. Neighborhood Center in Oceanside, CA: 28,827 SF 12-units attractive shopping center completed in 1989 on over 3 ac lot at a signalized intersection in a coastal city in Southern California, Major tenants include: Shell Gas Station, Domino’s Pizza, Five Star Market Liquor, Metro PCS and Douglas Square Cleaners. 83% NNN leased. NOI $515K/yr. $6.87M. 7.50% cap.
2. Shopping Center in Charlotte, NC: 64.584 SF shopping center built in 1999 on nearly 9 ac lot anchored by BI-LO Supermarket at a hard corner location. 100% NNN leased. NOI $757K/yr. $9.874M. 7.67% cap.
3. Walgreen’s in Saint Petersburg, FL: 13,672 SF drive-thru Walgreen’s built in 1998 on 1.74 ac lot along major corridor. Across from Walmart center. 20-yrs NNN- lease with 4-yrs left. NOI $336K/yr. $4.342M. 7.75% cap.
4. MOB in Washington, MI: 19,548 SF eye-catching multitenant medical office building constructed in 2002 on 1.42 ac lot anchored by Crittenton Hospital in high income Detroit suburbs. 100% NNN leased to strong tenants. NOI $434K/yr. $4.765M. 9.11% cap.
5. Surgery Center in Southgate, MI: 9811 SF state-of-the-art single tenant medical office building completed in 2006 in Detroit suburbs. This is a sale-leaseback investment. New 10 yrs absolute NNN lease. NOI $274K/yr with 3% annual rent increases. $3.433M. 8% cap.
6. BEALLS in Longview, TX: 40,524 SF building renovated in 2004 on 3 ac lot part of 639,000 SF Longview Mall with Dillard’s, Sears and JCPenney.  100% NNN- corp lease with over 10-yrs left. NOI $364K/yr. $5.21M. 7% cap.
7. Mixed-Use in Queens Village, NY: 38,950 SF attractive retail/office center built in 2006 on .57 ac lot in densely populated (over 1M residents in 5 mile radius) and upper middle class (AHI $88K/yr in 1 mile) New York suburbs. Close to Belmont Park Race Track and Hwy-26D. 75% leased. $11.5M. NOI/Cap N/A.
8. Retail Center in Las Vegas, NV: 16,900 SF retail center built in 19998 on 1.48 ac lot at a hard corner location. Adjacent to 231-bed Spring Valley Hospital. 100% NNN leased with good tenant mix. NOI $366K/yr. $4.5M. 8% cap.
9. Dickey’s in Centennial, CO: 1261 SF free-standing drive-thru restaurant on .83 ac lot along major corridor in high income (AHI $114K/yr in 3-miles) Denver metro. Tenant has been at this location since 2002. 100% NNN lease to a Dickeys franchisee with 5-yrs left. NOI $107K/yr. $1.261M. 8.50% cap.
10. MOB in Miami Lakes, FL: 31,011 SF Class-B single-tenant interest in a 4-story 62,811 SF medical office building on 1.44 ac lot along major thoroughfare in high income Miami metro with AHI of $94K/yr in 1 mile.  Close to Miami Children’s Hospital and Palmetto General Hospital. 100% NNN lease with proposed 5-yrs lease. NOI $455K/yr. $6.5M. 8.80% cap.  Note: this is a sale and lease back for lease terms can be changed.

            (c) Transmercial 2014