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03-19: MOB, La Petite Academy, Shopping Centers, Strip Centers

  1. Retail Center in Richland, WA: 13,805 SF retail center built in 2007 on 1 ac lot at a signalized location in Kennewick suburbs. Close to Columbia Center Mall. 92% leased. NOI $199K/yr. $2.85M. 7.01% cap.
  2. Shopping Center in Sandy, UT: 51,914 SF well maintained in-line shopping center on over 7 ac lot at a major retail artery in high income (AHI $105K/yr) Salt Lake City MSA. Shadow anchored by Shopko and Smith’s Grocery.  Across from Home Depot and The Fresh Market Center. Near Alta Valley Hospital. Pro forma NOI $735K/yr. $9M. 8.17% cap.
  3. MOB in Valhalla, NY: 25,118 SF Class-B multitenant office building on 1.31 ac lot in affluent New York suburbs with an AHI of $128K/yr in a 3-mile ring. 75% leased with a good mix of medical & professional tenants. NOI $352K/yr. $4.4M. 8% cap.
  4. Mixed-use in Marlborough, MA: 13,245 SF Class-B office/retail center on .82 ac lot in growing and high income (AHI $93K/yr in 3 miles) Boston metro. 80% leased. NOI $163K/yr. $2M. 8.19% cap.
  5. Retail Center in Southaven, TN: 15,900 SF attractive retail center built in 2007 on 2.29 ac lot in growing Memphis suburbs. Close to Baptist Memorial Hospital-Desoto and I-55/69. 100% NNN leased to Belhaven University, Ageless Men’s Health, Firehouse Subs, Batteries Plus, AAA, Sport Clips and Swankys Taco Shop. NOI $275K/yr. $3.5M. 7.87% cap.
  6. Retail Center in Clinton, UT: 34,186 SF in-line retail center built in 1999 on nearly 3 ac lot at a hard corner location in growing and upper middle-class city North of Salt Lake City. Shadow-anchored Maceys Grocery & across from Lowe’s and Walmart. 72% leased. Pro forma NOI $494K/yr. $6.615M. 7.25% pro forma cap.
  7. Retail Center in Olathe, KS: 16,139 SF attractive retail center constructed in 2004 on an outparcel to Lowe’s, Petco and Hen House Market in Kansas City suburbs. Across from Walmart Supercenter. 100% leased to six local & national tenants including Subway and Jose Peppers. NOI $262K/yr. $3.5M. 7.50% cap.
  8. MOB in Bradenton, FL: 26,180 SF Class-A medical office building on 3.45 ac lot close to 294-bed Blake Medical Center. 90% leased to multiple tenants. NOI $323K/yr. $3.895M. 8.30% cap.
  9. Strip Center in Alsip, IL: 11,238 SF well kept strip center in upper middle class Chicago suburbs. All units face main road. Tenants include: Country Pantry, Alsip Cleaners, Hair Salon, Nexus Staffing, Bakery, Barber Shop and Poor Dog Restaurant. NOI $147K/yr. $1.55M. 9.50% cap.
  10. La Petite Academy in Albuquerque, NM: 6800 SF well maintained day care facility on .65 ac lot in growing (55% pop growth) and upper middle-class (AHI $80K/yr in 3 miles) neighborhood. Close to Cottonwood Mall.  100% absolute NNN lease with 6-yrs left. NOI $129K/yr. $1.547M. 8.35% cap.

(c) Transmercial 2015