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02-20: Retail centers, Office Building, Meineke

  1. Shopping Center in Bradenton, FL: 12,569 SF shopping center built in 2004 on 1.44 ac lot in high income (AHI of $83K/yr) Tampa suburbs.  Excellent visibility with all units facing SR70.  100% NNN leased to 6 good tenants: AAA Auto, UPS Store, Supercuts, Subway, Nail Salon, and Michelangelo Pizza.  NOI $226K/yr.  $3.25M. 6.9% cap.
  2. Shopping Center in Bradenton, FL: 11,000 SF retail center built in 2002 on 1.67 ac corner lot in high income (AHI $96K/yr) Tampa suburbs.  100% NNN leased to 7 tenants.  NOI $216K/yr.  $3.1M. 6.9% cap.
  3. Shopping Center in Heron Creek, FL: 15,600 SF strip center built in 2006 on 1.6 ac lot in Fort Myers.  Shadow anchored by Walgreens. 92% NNN leased to 6 tenants including: Beef O’ Bradys,  Great Clips, Cocoberry Frozen Yogurt, State Farm, Animal Hospital, Liquor Store.  NOI $227K/yr. $3.15M. 7.2% cap.
  4. Office Building in Bridgeport, CT:  21,000 SF 3-story office building on .48 ac lot.  100% leased to 2 tenants: day care center and a nursing school.  NOI $105K/yr. $1.25M. 8.77% cap.
  5. Meineke Auto Center in Henderson, NV: 4200 SF auto service center with 9 service bay and a cash wash bay built in 2005 on .59 ac lot in high income (AHI of $87K/yr) Las Vegas metro.  100% leased to a franchisee since 2005 with 9 yrs left.  NOI $123K/yr with rent bumps.  $1.545M. 8% cap.
  6. Retail Center in Fredericksburg, VA:  20,000 SF retail center on 2.5 ac lot as part of a 75-shop power center anchored by Target, Marshalls, Cost Plus World Market, Staples, Dick’s Sporting Goods, Joanne Fabrics, Kohls, and Petsmart.  Easy access to I-95.  100% NNN leased.  NOI $478K/yr. $6.495M. 7.36% cap.

(c) Transmercial 2015