10-31: Retail centers, Pizza Hut, Honeybaked Ham

1. Strip Center in Rocklin, CA: 10,080 SF 7-unit strip center on 1.1 ac corner lot in middle-class Sacramento metro with AHI of $85K/yr in 1 mile.  85% NNN leased with 1 vacant unit.  Pro forma NOI $137K/yr.  $1.65M. 8.31% pro forma cap.
2. Shopping Center in Tucker, GA: 368,229 SF shopping center on 38 acres lot across from Northlake Mall in high income (AHI 95K/yr in 1 mile) NE Atlanta suburbs.  Anchored by 43,000 SF Toys R Us, 25,855 SF Petsmart, 26,900 SF Movie Tavern and 24,278 SF Goodwill store. Easy & close access to I-285.  83% leased.  NOI $1.69M. $20M. 8.46% cap.      
3. Office Building in Morgan Hill, CA: 19,247 SF 2-story 12-unit office building on 1.24 ac corner lot on a major artery close to Hwy 101 in high income Silicon Valley suburbs.  93% leased.  NOI $244K/yr. $3.958M. 6.16% cap.  Just over $200/SF.
4. Retail Center in Oceanside, CA: 10,840 SF retail center on .98 ac lot on a major artery with easy access to I-5, a coastal town halfway between Los Angeles and San Diego. 87% leased to 5 tenants plus 2 cell towers. Pro forma NOI $285K/yr. $4.085M. 7% pro forma cap.
5. Strip Center in Plano, TX: 5869 SF strip center built in 2006 in high income Dallas suburbs.  100% NNN leased to 2 tenants: Subway and Chennai Cafe. NOI $129K/yr. $1.85M. 7% cap.
6. Shopping Center in Akron, OH: 14,545 SF shopping center on 1.06 ac lot across from 860,000 SF Chapel Hill Mall.  90% NNN leased to 5 brand-name tenants: Mattress Warehouse, Sprint, H&R Block, Check N' go, and the Men's Wearhouse. Actual NOI $215K/yr. $2.475M. 8.7% cap.  Upside potential when 100% leased.
7.  Office Building in Austin, TX: 69,547 SF 3-story office building on 5.15 ac lot.  Excellent access to MoPac Expressway (Loop 1), Highway 183, and Capital of Texas Highway (Loop 360).  100% NNN leased to multiple tenants.  NOI $672K/yr. $8.346M. 8.06% cap.
8. Pizza Hut in Blasdell, NY: 2895 SF restaurant on .77 ac corner lot across from McKinley Mall in Buffalo metro. 100% NNN lease with 4 yrs left.  Tennant has been here since 1998.  NOI $51K/yr with 10% rent bump in each 5 yrs option. Only $712K. 7.25% cap.
9. Strip mall in Tampa, FL: 10,702 SF strip mall on .52 ac lot in wealthy part of Tampa with AHI $105K/yr in 1 mile.  100% NNN leased.  NOI $188K/yr. $2.55M. 7.37% cap.
10. Honeybaked Ham in Tucker, GA: 5105 SF free-standing  Honeybaked Ham store on 1/2 ac lot near Northlake Mall in high income (AHI 95K/yr in 1 mile) NE Atlanta suburbs.  15 yrs NNN corp lease with 6+ yrs left. NOI $98K/yr. $1.283M. 7.7% cap.

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