02-12: KFC & Taco Bell; Family Dollar; Rite Aid; Serrano's Mexican Restaurant; Sweet Tomatoes

1. KFC & Taco Bell in Marietta, GA: 5000 SF dual branded fast food restaurant built in 1999 on .58 ac outparcel to Target in growing and high income Atlanta metro. Across from major Power Centers with Lowe’s, Publix and Home Depot. 20-yrs absolute NNN ground lease (land for sale) with 4-yrs left to a strong franchisee with 227 units. NOI $54K/yr. $947K. 5.75% cap.
2. Family Dollar in Indianapolis, IN: 8320 SF Family Dollar built in 2014 on .69 ac lot at a signalized intersection. 10-yrs NNN- corp lease with 9-yrs left. NOI $118K/yr. $1.638M. 7.25% cap.
3. Shopping Center in Warren, MI: 100,865 SF well maintained shopping center on 9.56 ac lot anchored by Kroger Supermarket in Detroit suburbs. 98% NNN leased. Actual NOI $793K/yr. $10.241M. 7.75% cap.
4. Rite Aid in Charlotte, NC: 11,421 SF Rite Aid constructed in 1999 on 1.82 acres of lot located at hard corner. 100% NNN corp lease with 5-yrs left. NOI $241K/yr. $3.021M. 8% Cap.
5. Retail Center in Reno, NV: 12,700 SF attractive retail center along busy retail corridor. Close to VA Medical Center. 100% leased. NOI/Price N/A.
6. Serrano’s Mexican Grill in Henderson, NV: 2574 SF highly rated on Yelp Mexican Restaurant on .69 ac lot along main artery in upper middle class Las Vegas suburbs. Recent $150K renovations.100% absolute NNN lease with 12-yrs left. NOI $85K/yr with 2% annual rent bumps. $1.2M. 7.08% cap.
7. Spring Mobile in Addison, IL: 3000 SF recently renovated single tenant retail building on .64 ac outparcel to Addison Cinema and Planet Fitness. Along major corridor and close to I-355. 100% NNN lease. NOI $102K/yr with rent increases. $1.325M. 7.70% cap.
8. Sweet Tomatoes in Jacksonville, FL: 7519 SF all-you-care-to-eat restaurant buffet constructed in 2001 on over 1 ac lot across from Regency Square Mall. 20 yrs absolute NNN lease with 5 yrs left. NOI $198K/yr with CPI rent bumps every 5 yrs. $2.263M. 8.75% cap.
9. Professional Building in San Jose, CA: 9123 SF well maintained office building in growing upper middle class area. 90% leased to multiple tenants. NOI $91K/yr. $1.3M. 7% cap.
10. Office Building in Farmington, MI: 68,119 SF multitenant office building renovated in 1996 at a hard corner location in affluent Detroit suburbs with an AHI of $119K/yr in 1 mile. Close to I-696. 81% leased. NOI $501K/yr. $6.4M. 7.84% cap. 

            (c) Transmercial 2015