04-20: Tuffy Auto, AGA, Dollar Tree, Retail Centers, Strip Centers

1. Retail Center in Kettering, OH: 9800 SF retail center built in 2007 on 2½ ac lot along busy artery in Dayton suburbs. 100% leased to 4 tenants: LaRosa’s Pizzeria, Ice Ice Smoothie, Drycleaner and Eclipse Coffee & Tea Shop. NOI $147K/yr. $1.75M. 8.4% cap.
2. Strip Center in Orland Park, IL: 7000 SF well maintained strip center in high income Chicago suburbs with an AHI of $91K/yr in a 3 mile radius. Adjacent to Whole Foods Market and across from Place Mall with Bed Bath & Beyond, DSW and Dicks Sporting Goods. Close to Orland Square Mall. 100% NNN leased to Jimmy John’s, Sprint and Naf Naf Grill. NOI $177K/yr. $2.532M. 7% cap.
3. Tuffy Auto in Blacklick, OH: 4240 SF 6-bay Tuffy Auto constructed in 2002 on 1.67 ac lot in growing upper middle class Columbus suburbs. Across from Meijer grocery and Target. 100% NNN lease with 3-yrs left. NOI $119K/yr. $1.26M. 9.50% cap.
4. AGA Medical in Stockbridge, GA: 9794 SF attractive build-to-suit single tenant medical office building completed in 2002 on 2 ac lot in fast growing Atlanta suburbs. With easy access to I-675. Between Southern Regional Medical Center and Piedmont Henry Hospital. 15-yrs NNN lease with 3-yrs left to Atlanta Gastroenterology Associates (AGA) with 37 locations. NOI $315K/yr with 2% annual rent bumps. $3.9M. 8% cap.
5. Dollar Tree in Richmond, VA: 12,608 SF Dollar General built in 1995 on 1.79 ac lot at a hard corner location in high income (AHI $87K/yr) area. 100% NNN lease with 5-yrs left. NOI $118K/yr. $1.65M. 7.20% cap.
6. Retail Center in Richmond, KY: 19,345 SF well maintained retail center. All unit face Hwy-421/25. 100% leased with good tenant mix. NOI $184K/yr. $2.3M. 8% cap.
7. Retail Center in Tamarac, FL: 14,036 SF ten units retail center on 1.33 ac lot along major corridor in Fort Lauderdale suburbs. Close several anchored centers with Target, Babies “R” Us and Boston Market. 100% NNN leased. NOI $141K/yr. $2.2M. 6.50% cap.

            (c) Transmercial 2015