06-11: Walgreens, Family Dollar, Shopping Centers, Multi-family

1. Walgreens in Fort Worth, TX: 13,905 SF drug store built in 1999 on 1.8 ac corner lot.  Store with strong sales of $12M/yr in the top 2-3% for Walgreens.  20 yrs NNN lease with 5 yrs left.  NOI $322K/yr. $5.6M. 5.75% cap.
2. Family Dollar in Moreno Valley, CA: 8399 SF Family Dollar store built in 2013 on 1.1 ac lot. New 15 yrs NNN corp lease.   NOI $124K/yr with up to 10% rent bump in year 10.  $2.156M. 5.75% cap.  24 other CA locations avail.
3. Shopping Center in Altamonte Springs, FL: 50,693 SF lake-front 25-unit shopping/office center  on a major artery in strong income Orlando metro.  Near Kohls, and Lowes. 94% NNN leased.  NOI $554K/yr. $6.199M. 8.94% cap.
4. Multi-family in Tracy, CA: 14-unit well-maintained multi-family.  100% occupied.  NOI $82K/yr. $950K. 8.7% cap.
5. Shopping Center in Sacramento, CA: 40,721 SF beautiful shopping center on a corner lot completed in 2007.  Strong demographics: AHI of $100K and over 3000% population growth since 2000.  Anchored by CVS pharmacy and Family Dollar.  100% NNN leased to 11 tenants. NOI $475K/yr. $7.6M. 6.25% cap.
6. Shopping Center in Humble, TX: 24,939 SF built in 2005 on 2.13 ac lot at the entrance to Walmart in Houston metro.  Near Ross, Burlington Coat Factory, Sam's Club, and Deerbrook Mall.  92% NNN leased with 1 vacant unit.  Current NOI $397K/yr. $5.295M. 7.5% cap. Upside potential when 100% leased.
7. Shopping Center in Glen Allen, VA: 84683 SF single-tenant retail center on 9 ac lot in a commercial corridor surrounded by DSW Shoes Warehouse, Michaels, Costco, Lowes, Kroger.  100% leased to Rooms To Go Furniture with 160 locations.  NOI $415K/yr. $5.928M. 7% cap.
8. Shopping Center in Colonial Heights, VA: 71,509 SF shopping center on 6 acres outparcel to Southpark Mall in Richmond metro.  Anchored by Ashley Furniture.  100% leased.  NOI $841K/yr. $10.5M. 8% cap.
9. Shopping Center in Roanoke, VA:  81789 SF shopping center on 7.6  acres outparcel to 800,000 SF Valley View Mall.  100% leased to 2 brand name tenants: hhgregg and Dick's Sporting Goods. NOI $895K/yr. $10.5M. 8.5% cap.

(c) Transmercial 2014