Wednesday, July 23, 2014

07-09: Discount Tire, Walgreen's, Dollar Tree, AutoZone, TitleMax, Flea Market, Office Buildings

  1. Shopping Center in Visalia, CA: 76,062 SF shopping center built in 1993 on 6.42 ac lot anchored by 49,950 SF Food Maxx Grocery Market. 93% NNN leased with only three units. NOI $889K/yr. $12.275M. 7.25% cap.
  2. Retail Center in Hutto, TX: 19,287 SF attractive retail center built in 2004 on 1.70 ac lot with excellent visibility from Hwy-79 in fast growing Austin MSA. 100% leased. Pro forma NOI $239K/yr. $3.125M. 7.65% pro forma cap.
  3. Discount Tire in Amarillo, TX: 7890 SF well maintained auto center on .75 ac lot along I-40 in a growing middle-class area. 100% NNN lease with 5-yrs left. NOI $63K/yr. $899K. 7.10% cap.
  4. Walgreen’s & Dollar Tree in Oak Park, MI: 29,772 SF consisting of two well maintained retail buildings completed in 1999 at a hard corner location in Detroit suburbs. 100% NNN leased to two credit tenants. NOI $694K/yr. $8.682M. 8% cap.
  5. Strip Center in Medina, OH: 15,300 SF retail center built in 2000 on over 1 ac lot in a growing and upper middle-class city in Cleveland metro. Across from Walmart, Kohl’s, Home Depot & Hobby Lobby centers. 92% NNN leased. NOI $120K/yr. $1.38M. 8.71% cap.
  6. Shopping Center in Colorado Springs, CO: 23,110 SF eye-catching shopping center built in 2003 on over 2 ac outparcel to Walmart Supercenter in growing middle-class area. 89% leased with regional/national tenants. NOI $494K/yr. $6.5M. 7.61% cap.
  7. AutoZone in Johnson City, TN: 9455 SF well maintained auto parts center along major retail artery. Close to The Mall at Johnson City and I-26. 10-yrs NNN- corp lease with over 3-yrs left. NOI $81K/yr. $1.158M. 7% cap.
  8. Flea Market in Bonita Springs, FL: 82,000 SF Flea Market on 14.60 acres of land in a high income Fort Myers.  Close to I-75. NOI $869K/yr. $9.35M. 9.30% cap.
  9. TitleMax in Albuquerque, NM: 6800 SF single tenant retail building at a main thoroughfare. New 10-yrs absolute NNN lease to TitleMax, a national title loan company with 1000+ locations. NOI $58K/yr with 10% rent bumps every 5-yrs. $749K. 7.75% cap.
  10. Office Building in Myrtle Beach, SC: 12,500 SF Class-A multi-tenant office building with excellent visibility to Hwy-17 in a coastal city. 100% leased. NOI $128K/yr. $1.595M. 8.06% cap.


            (c) Transmercial 2014
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