07-15: Od Country Buffet, CVS, O'Reilly, Burger King, Wendy's Portfolio

1. Old Country Buffet in Rockford, IL: 11,519 SF well maintained Old Country Buffet on 2.79 ac lot along main retail corridor. Close to OSF Saint. Anthony Medical Center, Cherryvale Mall, Magic Waters Waterpark and I-90.  100% absolute NNN corp lease with 3-yrs left. NOI $232K/yr. $2.849M. 8.14% cap.
2. CVS in Brook Park, OH: 10,722 SF CVS Pharmacy on 1.50 ac lot in  Cleveland suburbs. 100% NNN corp lease with 5-yrs left. NOI $177K/yr. $2.366M. 7.50% cap.
3. O’Reilly in Tracy, CA: 16,017 SF single-tenant retail building on 1.45 ac lot in growing upper middle-class San Joaquin County. Close to Sutter Tracy Community Hospital. 20-yrs absolute NNN lease with 10 yrs left. NOI $160K/yr with a rent increase in Dec 2014. $3.675M. 5.66% cap.
4. Office Building in Independence, OH: 29,500 SF Class-B multi-tenant office building in high income Cleveland suburbs with an AHI of $90K/yr in 1 mile. Close to I-77. 96% leased. NOI $252K/yr. $2.65M. 9% cap.
5. Retail Center in Santa Rosa, CA: 10,000 SF retail center on 1.60 ac lot in Sonoma County. Near Kaiser Permanente Medical Center and Hwy-101. Shadow-anchored by Joan Fabrics. Across from Kmart and 24-Hr Fitness.  100% leased to 2 tenants. Pro forma NOI $116K/yr. $1.55M. 7.50% pro forma cap.  Just $155/SF!
6. Retail Center in Smyrna, GA: 16,150 SF attractive & upscale  retail center in high income (AHI $103K/yr) Atlanta suburbs. Adjacent to Publix Super Market shopping center. 93% NNN leased. NOI $402K/yr. $5.556M. 7.25% cap.
7. Burger King in Davenport, IA: 2721 SF franchised fast food restaurant on nearly 1 ac lot at a hard corner location. Across from Northpark Mall. 20-yrs absolute NNN lease with over 11-yrs left to an experienced operator with 10 units. NOI $80K/yr with 1.75% annual rent increases. $1.188M. 6.75% cap.
8. Strip Center in Omaha, NE: 11,472 SF strip center built in 2006 on 1.52 ac outlot to Super Save Grocery Store & Kmart. 100% NNN leased. NOI $144K/yr. $1.866M. 7.75% cap.
9. Neighborhood Center in Knoxville, TN: 299,329 SF well kept shopping cent on over 22 acres of land in high income (AHI $107K/yr) area. Anchored tenants include: Burlington Coat Factory and Big Lots.  Across Market Place with Home Depot and near Parkwest Medical Center and I-40/75. 82% leased. Actual NOI $1.377M/yr. $16.7M. 8.25% cap.
10. Wendy’s Portfolio in MI: 3 individual Wendy’s restaurants in Detroit suburbs. 20-yrs absolute NNN lease with 18-yrs left. Actual NOI $271K/yr. $3.804M. 7.15% cap.

            (c) Transmercial 2014