08-05: Retail Center, Walgreen's, Dairy Queen, Mimi's Cafe, MOB, Office Park

1. Retail Center in Glendora, CA: 22,046 SF retail center built in 2001 on over 2 ac lot in densely populated Los Angeles area. Adjacent to Home Depot and near Sam’s Club, Kohl’s, BevMo! And Barnes & Noble. Easy access to I-210. 92% NNN leased with credit, regional and local tenants. Pro forma NOI $637K/yr. $10.2M. 6.25% cap.
2. Strip Center in Highlands Ranch, CO: 14,903 SF attractive & upscale strip center built in 2006 on 3.16 ac lot in affluent Denver suburbs with an AHI of $100K/yr in 1 mile. 61% NNN leased. Actual NOI $93K/yr. Price: $1.488M. 6.30% cap.  Upside potential when fully leased.
3. Walgreen’s in Brunswick, OH: 12,825 SF Walgreen’s completed in 1999 on 1.85 ac lot at a signalized intersection in Cleveland metro. 20-yrs NNN- corp lease with 5-yrs left. NOI $346K/yr. $4.885M. 7.10% cap.
4. Retail Center in Medina, OH: 15,300 SF well maintained retail center built in 2000 on over 1 ac lot in Cleveland metro. Shadow anchored by Walmart, Kohl’s, Home Depot and Hobby Lobby. 92% NNN leased with only 1 vacancy. Actual NOI $120K/yr. $1.38M. 8.71% cap. Upside potential when fully leased.
5. Dairy Queen in West Valley City, UT: 2626 SF restaurant built in 2003 on .43 ac lot in middle class area in Salt Lake City metro. New 20 yrs absolute NNN lease.  NOI $66K/yr with 10% rent bumps every 5 yrs.  $943K. 7% cap.
6. Office Park in Walnut Creek, CA: 53,148 SF Class-B multi-tenant office complex on 3.54 ac lot in affluent (AHI $131K/yr in 1 mile) San Francisco metro. 76% leased. Pro forma NOI $506K/yr. $6.5M. 7.76% pro forma cap.
7. Mimi’s Café in Omaha, NE: 7170 SF French Inspired franchised Restaurant built in 2004 on over 1 ac outparcel to Village Pointe, a 602,000 SF upscale open-air shopping mall. Close to Methodist Women’s Hospital and next to Hwy-6. 20-yrs absolute NNN lease with 10-yrs left. NOI $193K/yr with 10% rent bumps every 5-yrs. $2.766M. 7% cap.
8. MOB in Midland, TX: 17,155 SF Class-B well kept medical office building on 1 ac lot anchored by DaVita Dialysis Center in fast growing oil/gas town. NNN leased to multiple-tenants. NOI $263K/yr. $3.75M. 7.02% cap.
9. MOB in Albuquerque, NM: 11,720 SF Class-A award winning architectural design medical office building on 1.29 ac lot. Across from Lovelace Women’s Hospital and near I-25. 100% NNN lease with 5-yrs left. Actual NOI $209K/yr with 3% annual rent increases. $2.96M. 7.07% cap.
10. Shopping Center in Cincinnati, OH: 28,520 SF well kept shopping center in upper middle-class area. Near Walmart, Sam’s Club and Meijer grocery. 92% NNN leased. NOI $319K/yr. $3.375M. 9.46% cap. Upside potential.   

            (c) Transmercial 2014