11-06: Rite Aid, MOB, AAA Office Building, Shopping Centers

1. Shopping Center in League City, TX: 28,150 SF attractive shopping center constructed in 2002 on over 3 ac lot in growing and affluent Houston suburbs with an AHI of $109K/yr in 1-mile ring. 100% NNN leased. NOI $526K/yr. $6.412M. 8.21% cap.
2. Retail Center in Washington Township, MI: 17,561 SF attractive retail center built in 2005 on over 3 ac outparcel to Meijer Supermarket in Detroit suburbs. Near Hwy-53. Good tenant mix including: Great Clips, UPS Store, AAA Insurance, Expert Eyes, Miracle Ear and more. Across from Target, Kohl’s and Home Depot. 100% NNN leased. NOI $217K/yr. $2.588M. 8.40% cap.
3. Shopping Center in Noblesville, IN: 40,650 SF well maintained shopping center on 4.60 ac lot. Major tenants include: Fresenius, Starbucks, Sherwin Williams, Supercuts and Edward Jones. Across from 156-bed Riverview Health. 85% NNN leased. Actual NOI $472K/yr. $6.2M. 7.63% cap. Upside potential.
4. MOB in Chicago, IL: 27,007 SF medical office building constructed in 2007 on over 1 ac lot across from Roseland Community Hospital. 100% NNN leased to 7 medical & retail tenants: Fresenius, Chicago Family Health, Roseland Alliance, Roseland Community Hospital, Skylake Chinese, Roseland Nail Spa and Subway. NOI $541K/yr. $5.695M. 9.50% cap.
5. Shopping Center in Saint Cloud, FL: 88,264 SF shopping center and 6300 SF Outback Steakhouse Restaurant on over 10 ac lot anchored by 42,112 SF Gold’s Gym and 13,500 Mizu Supermarket. At a major artery in Orlando suburbs. 99% leased. NOI $771K/yr. $9.25M. 8.34% cap.
6. Retail Center in Orlando, FL: 32,908 SF eye-catching seventeen units retail center on 4 ac lot at a signalized intersection in a fast growing area. Major tenants are JP Morgan Chase FedEx/Kinko's, Verizon, Subway, and Five Guys. 96% leased with only one vacancy. NOI $780K/yr. $9.75M. 8% cap.
7. AAA Auto Club in Hayward, CA: 21,372 SF Class-B multitenant office building on 1.88 ac lot in Alameda County. Across from Chabot College and close to Southland Mall. 53% NNN leased. Actual NOI $191K/yr. $3.199M. 6% cap.
8. Rite Aid in Ogden, UT: 21,000 SF well maintained Rite Aid Pharmacy on .92 ac lot in growing town North of Salt Lake City. Tenant has been at this location since 1965. 7-yrs recently extended NNN- corp lease. NOI $99K/yr. $1.584M. 6.25% cap.
9. AAA Auto Club in Petaluma, CA: 7039 SF Class-B single tenant office building on 1 ac lot in high income town North of San Francisco. 100% NNN lease with 4-yrs left to a credit tenant. NOI $89K/yr. $1.35M. 6.60% cap.
10. MOB in Woodstock, GA: 6840 SF Class-B medical office building completed in 1999 in affluent Atlanta metro with an AHI of $108K/yr in 1 mile radius. 100% NNN lease. NOI $110K/yr. $1.2M. 9.20% cap.

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