10-22: Apartments, Meineke, Wendys, MOB, Walgreens

1. Apartments in La Port, TX: 79-unit well-kept apartments on 1.35 ac lot in Houston suburbs.  100% occupied.  NOI $367K/yr. $3.675M. 10% cap.
2. Strip Center in Pico Rivera, CA: 5300 SF strip center on .31 ac lot in strong income area in Los Angeles.  100% NNN leased to 4 tenants.  NOI $50K/yr. $985K. 5.06% cap.
3. Meineke in Chesterfield, MO: 5535 SF Meineke car care center built in 2004 on 3/4 ac lot in very affluent St Louis suburbs (AHI $159K/yr in 1 mile). 20 yrs absolute NNN lease with 10 yrs left.  NOI $112K/yr with 7.5% rent bumps every 5 yrs.  $1.75M. 6.44% cap.
4. Wendy's in Plantation, FL: 5248 SF fast food restaurant in densely populated Fort Lauderdale metro.  New 20 yrs absolute NNN lease with personal guaranty from a experienced and fast growing franchisee.  NOI $157K/yr with 7.5% rent bumps every 5 yrs. $3.156M. 5% cap.
5.  Walgreens in Madison, WI: 15,555 SF drugstore built in 2007 in high income area.  25 yrs absolute NNN lease with 18 yrs left.  NOI $360K/yr. $6.428M. 5.6% cap.
6. Imaging Center in Boca Raton, FL: 4790 SF medical office condo on the 1st floor in very affluent Fort Lauderdale area (AHI $140K/yr in 1 mile).  100% NNN leased to POM MRI & Imaging Center (an AAAHC Healthcare Accredited Organization) till 2018.  NOI $76K/yr. $895K. 8.5% cap.
7. MOB in Mesa, AZ: 21,654 SF class-A Medical Office Building completed in 1990 & 2008 in high income area.  Easy access to Hwy 60. 100% leased to 3 medical tenants: Deseret Family Medicine and Sonora Quest Laboratories and SimonMed Imaging.  NOI $494K/yr.  $6.5M. 7.6% cap.
8. Walgreens in Orange Park, FL: 13,905 SF drug store on 2.3 acres corner lot in high income Jacksonville metro.  Store with strong sales.  100% NNN- with 2+ yrs left.  NOI $247/yr.  $3.397M. 7.3% cap.
9. MOB in Woodburn, OR: 22,550 SF single-tenant 2-story medical office building on 2.09 ac lot.  100% NNN- to Silverton Health, a strong regional tenant with multiple locations.  NOI $498K/yr with CPI-based annual rent bumps. $6.828M. 7.3% cap.
10. Office Building in Spokane, WA: 23,246 SF single-tenant 2-story office building on 2.24 acres lot completed in 1996 ad renovated in 2006.  10+ yrs absolute NNN leased back to Kelly Brady,  an advertizing agency that has been in business for 35 years with a large client base.  NOI $176K/yr. $1.962M. 9% cap.

            (c) Transmercial 2014