05-06: Wendy's, Grocery Outlet, Tuffy Auto Service Center, 24-Hour Fitness, Smile Magic, Autozone, MOB

1. Wendy’s in Appleton, WI: 2845 SF franchised Wendy’s fast food restaurant on 1.35 ac lot on an off/on ramp of Hwy-41. Adjacent to Fox River Mall, Home Depot, Sam’s Club and more. New 20-yrs absolute NNN lease. NOI $109K/yr with 1.5% annual rent increases. $1.8M. 6.10% cap.
2. Grocery Outlet in Stockton, CA: 13,969 SF brand new single tenant grocery store on over 1.16 ac lot at a busy retail corridor. Adjacent to Trader Joe’s & Safeway grocery center. 10-yrs NNN corp lease to Grocery Outlet, a chain with stores in CA, OR WA, ID, NV, and PA. NOI $257K/yr with 10% rent increases every 5-yrs. $4.895M. 5.25% cap.
3. Tuffy in Orlando, CA: 4035 SF build-to-suit auto service center constructed in 2005 on .70 ac lot. Close to Publix super market center and near Hwy-417. 20-yrs absolute NNN lease with over 10-yrs left. NOI $97K/yr with 8.75% rent bumps every 5-yrs. $1.518M. 6.45% cap.
4. 24-Hour Fitness in Fort Worth, TX: 37,500 SF attractive fitness center built in 2008 on over 6 ac lot. Part of 228,000 SF Power Center. With easy access to I-820. 15-yrs NNN- corp lease with 9-yrs left. NOI $843K/yr with 12.5% rent increases every 5-yrs. $12.053M. 7% cap.
5. MOB in Orangevale, CA: 12,518 SF well maintained multitenant medical office buildings constructed in 1990 on 1.24 ac lot in upper middle class Sacramento suburbs. 100% leased to four tenants: 3 dentists and a major insurance office in Sacramento. NOI $1.7M. 7.46% cap.
6. MOB in Lake Mary, FL: 10,698 SF Class-A medical office building completed in 2007 in high income (AHI $93K/yr in 1 mile) Orlando suburbs. 79% NNN leased to multiple tenants. Pro forma NOI $244K/yr. $2.95M. 8.28% cap.
7. Shopping Center in San Antonio, TX: 97,682 SF attractive shopping center on 6.71 ac lot along busy corridor. 93% leased with strong tenant mix. Actual NOI $1.014M/yr. $13M. 7.80% cap.
8. Smile Magic in Grand Prairie, TX: 7132 SF single-tenant medical office building constructed in 1993 on .61 ac lot in growing Fort Worth/Dallas suburbs. Across from Kroger grocery center. Near Hwy-161. 100% NNN lease with 5-yrs left to Smile Magic, a regional operator with 7-units. NOI $118K/yr with a 12.5% rent bump in 2017. $1.574M. 7.50% cap.
9. AutoZone in Poughkeepsie, NY: 7380 SF single tenant retail building on .59 ac corner lot in New York metro. 20-yrs NNN lease with over 10-yrs left. Pro forma NOI $142K/yr. $2.272M. 6.25% cap.
10. Retail Center in Compton, CA: 22,125 SF attractive retail center built in 2007 along busy thoroughfare in densely populated Los Angeles area with over 800,000 residents in a 5-mile ring. Major tenants include: Subway, GameStop, Little Caesars and H&R Block. 100% NNN leased. NOI $583K/yr. $9.5M. 6.14% cap.

            (c) Transmercial 2017