07-14: Best Buy, Dickey's Barbecue Pit, Dunkin Donuts, Apartments, MOB

1. Best Buy in Duluth, GA: 50,484 SF small-footprint Best Buy built in 1994 on over 5 ac lot in fast growing Atlanta suburbs. Close to Gwinnett Place Mall, with over 150 stores. Off ramp of I-85 and easy access to Hwy-316/104. Tenant has been at this location since 1994. 100% absolute NNN corp recently extended lease with over 5-yrs left. Current NOI $524K/yr. $4.6M. 11.41% cap. Note: landlord agreed to reduce rent to $410K/yr. from Dec 2014, offering 9% cap, making this more stable property.
2. Shopping Center in Kingwood, TX: 35,085 SF eye-catching shopping center built in 2008 on 5+ ac lot in growing and high income (AHI $89K/yr in 3 miles) Houston metro. Near Kingwood Medical Center and I-69. 99% NNN lease with medical, professional and retail tenants. 7.25% cap. NOI/Price N/A.
3. Dickey’s Barbecue Pit in Flour Mound, TX: 3424 SF restaurant built in 2005 on .79 ac lot along major corridor in growing and affluent Dallas/Fort Worth suburbs with an AHI of $124K/yr in 1 mile. 15-yrs NNN lease with 8-yrs left to strong franchisee. NOI $132K/yr with 10% rent bumps every 5-yrs. $1.885M. 7% cap.
4. MOB in Santa Ana, CA: 13,800 SF well maintained single-tenant medical office building on .84 ac lot in densely populated Los Angeles suburbs. Across from Bristol Marketplace , with Kohl’s, Big 5 Sporting Goods, Target, Smart & Final and CVS Pharmacy. Close to Kindred Hospital. 100% NNN lease with 9-yrs left to Memorial Care Medical Foundation. NOI $383K/yr with 3% annual rent increases. $6.99M. 5.5% cap.
5. Retail Center in Santa Rosa, CA: 18,742 SF 12-units well kept retail center ion 1.67 ac lot in growing middle-class town North of San Francisco. Close to Hwy-101. 100% NNN leased. NOI $203K/yr. $2.92M. 6.97% cap.
6. Dunkin Donuts in Baton Rouge, LA: brand new 2200 SF franchised Dunkin Donuts on .66 ac lot at a hard corner location. Between The Mall at Cortana and Bon Carre Mall. 10-yrs NNN- lease with over 9-yrs left. NOI $54K/yr with 10% rent increases every 5-yrs. $880K. 6.10% cap.
7. Retail Center in Dayton, OH: 24.401 SF newly renovated retail center on 2.39 ac lot along major retail artery and in a high income area. Across from new Kroger Market Place. 100% leased. NOI $209K/yr. $2.495M. 8.38% cap.
8. Apartments in Sacramento, CA: 20-units remodeled apartments. Close to schools, parks, shopping centers and Hwy-50. 90% occupied. Actual NOI $148K/yr. $1.75M. 8.50% cap. Upside potential.
9. Retail Center in Roswell, GA: 25,510 SF attractive retail center along main retail corridor in Atlanta suburbs. Close to Hwy400. 100% leased to stable tenants. NOI $382K/yr. $4.5M. 8.50% cap.   

            (c) Transmercial 2014