03-17: TGI’s Friday, Bank of America, MOB, Regional Centers, Strip Centers

  • Regional Center in Pickerington, OH: 44,834 SF attractive shopping center on 5.87 ac lot anchored by Life Time Fitness in high income Columbus suburbs. Shadow anchored by Kohl’s and next to OhioHealth’s new medical campus. NNN leased. NOI $728K/yr. $8.62M. 8.45% cap.
  • TGI’s Friday’s in Springfield, MO: 8000 SF casual dining restaurant and bar renovated in 2005 on over 1 ac lot. Adjacent to Power center with Ross Dress for Less, T.J. Maxx, Shoe Carnival and Petsmart. Across from Target and Lowes. Close to1,200,000 SF Battlefield Mall. 20-yrs absolute NNN lease with 10-yrs left. $3.265M. 7.35% cap.
  • Bank of America in Fresno, CA: 14,224 SF multiple drive-thru retail building on 1.69 ac lot along main artery. With easy access to Hwy-2. Tenant has been at this location since 1981. 100% NNN corp lease with 5-yrs left. NOI $125K/yr. $1937M. 6.50% cap.
  • Neighborhood Center in Webster, TX: 121,260 SF shopping center on nearly 10 ac lot at a hard corner location in growing and upper middle class area. Major tenants include: Gerland’s Food Town, McDonalds, Family Dollar and Palais Royal. 100% leased. Pro forma NOI $891K/yr. $12.3M. 7.25% pro forma cap.
  • Shopping Center in Atlanta, GA: 33,200 SF Class-A consisting of two retail buildings on 4.48 ac lot. Across from Cumberland Mall, close to Galleria Specialty Mall and next to I-285. Near new Altans Brave’s Stadium. 94% leased. Actual NOI $459K/yr. $5.1M. 9% actual cap. Upside potential.
  • Regional Center in Baytown, TX: 106,779 SF shopping center completed in 2003 on over 12 ac lot in Houston suburbs.  Major tenant include: Michaels, Boot Barn, Shoe Carnival, Pier 1 Imports and Buffalo Wild Wings. Shadow anchored by Kohl’s. Across from 1.15M SF San Jacinto Mall and near I-10. 98% leased. Pro forma NOI $1.331M/yr. $18.364M. 7.24% cap.
  • MOB in Merrillville, IN: 37,328 SF Class-B multitenant medical office building on over 5 ac lot adjacent to Methodist Hospital-Southlake. 100% NNN leased. NOI $462K/yr. $6.3M. 7.34% cap.
  • Office Building in Santa Clara, CA: 7320 SF well maintained office building on .55 ac corner lot in high income Silicon Valley. Adjacent to San Jose International Airport and close to Hwy-101. $2.15M. Seller will carry. Excellent for owner-user!
  • MOB in Eagle, ID: 5300 SF attractive medical office building constructed in 2003 on .59 ac lot in high income (AHI of $90K/yr in 3 miles)Boise suburbs. 100% NNN leased to multiple tenants. NOI $70K/yr. $990K. 7.12% cap.
  • Strip Center in Copiague, NY: 5800 SF strip center on .41 ac lot along main artery in high income New York suburbs. NOI $121K/yr. $1.95M. 6.20% cap.

03-16: Jack in the Box, Golden Corral, IHOP, Mixed-Use, Shopping Centers

  1. Shopping Center in Winchester, VA: 79,947 SF consisting of four attractive retail buildings built in 2008 on over 12 ac outparcel to 126,000 SF Target and Lowe’s on an off/on ramp of I-81. Notable tenants include: Sleepy’s, Sprint, Sally Beauty Supply, GameStop, PetSmart, Party      City and Subway. 98% NNN leased. NOI $1.397M/yr. $17.998M. 7.76% cap.
  2. Mixed-use in San Jose, CA: 19,826 SF well maintained retail/office center on 1.55 ac lot along major artery. Between Eastridge Mall and Hwy-101. 88% leased. NOI $371K/yr. $6.75M. 5% cap.
  3. Shopping Center in Las Vegas, NV: 53,689 SF striking shopping center constructed in 2005 on 5.58 ac lot in a growing and high income area with an AHI of $92K/yr in 1 mile. Adjacent to major shopping centers with Whole Foods Market, Barnes & Noble, Target, Pier 1 Import, and The Loft. 100% NNN leased. NOI $1.347M/yr. $19.65M. 6.86% cap.
  4. Retail Center in Urbandale, IA: 22,771 SF retail center built in 2001 in fast growing and high income (AHI $99K/yr in 3 miles) Des Moines suburbs. Outparcel to Super Target and Home Depot. Next to I-80. 86% leased. NOI $239K/yr. $3.189M. 7.50% cap.
  5. Jack in the Box in Henderson, NV: 2660 SF drive-thru fast food restaurant completed in 1999 on an off/on ramp of I-215. 100% NNN corp lease with 4-yrs left. NOI $136K/yr. $2.125M. 6.40% cap.
  6. Shopping Center in The Woodlands, TX: 31,505 SF well kept shopping center on over 3 ac lot in fast growing and high income (AHI $94K/yr in 3 miles) Houston MSA. Along I-45. 95% leased. NOI $423K/yr. $5M. 8.47% cap.
  7. Strip Center in Patchogue, NY: 7000 SF strip center on .68 ac corner lot in upper middle class (AHI $84K/yr) New York suburbs. Close to Hwy-27. 100% leased to five tenants. NOI $138K/yr. $1.95M. 7.10% cap.
  8. Golden Corral in Chattanooga, TN: 10,594 SF Golden Corral buffet restaurant on 1.79 ac outparcel to Kohl’s and Target. Close to Hamilton Place Mall and I-75.  100% NNN lease with 12-yrs left. NOI $216K/yr with rent bumps every 5-yrs. $3.099M. 7% cap.
  9. IHOP in Atlanta, GA: 4500 SF IHOP Restaurant built in 2008 outparcel to Walmart. Across from Kroger and Dollar Tree center. 20-yrs absolute NNN lease with over 13-yrs left. NOI $197K/yr. $3.046M. 6.50% cap.

03-13: Perkins;, Office Buildings; Processional Plaza; Retail Centers

  • Retail Center in Riverdale, GA: 11,250 SF eye-catching retail center constructed in 2008 on 2 ac lot in growing Atlanta suburbs. Major tenants include: Little Caesars, Wings & Hibachi, Lake Ridge Mart, Tattoos Shop, Rose Couture and Hair Salon. 90% leased. Actual NOI $84K/yr. $1.095M. 7.73% actual cap. Upside potential .
  • Professional Plaza in Miramar, FL: 30,692 SF Class-B multitenant office building along main corridor in Miami suburbs. High barrier to entry area. 94% leased. NOI $259K/yr. $3.6M. 7.20% cap.
  • Retail Building in Cortlandt Manor, NY: 4777 SF well maintained retail building on 1 ac lot along main corridor in affluent New York metro with an AHI of $142K/yr in 1 mile radius. 100% leased to Snap Fitness & Thyme Restaurant. NOI $130K/yr. $1.866M. 7% cap.
  • Retail Center Spokane, WA: 24,113 SF consisting of two retail buildings on 2.26 ac lot across from Walmart Supercenter. Adjacent to Costco, Home Depot and Lowe’s. Close to I-90. 100% leased. NOI $282K/yr. $3.95M. 7.15% cap.
  • Shopping Center in Mesa, AZ: 34,405 SF well maintained shopping center on over 3 ac lot at a hard corner location in Phoenix suburbs. Across from Safeway shopping center. 88% NNN leased. NOI $280K/yr. $3.5M. 7.20% cap.
  • Perkins in Milwaukee, WI: 4966 SF Perkins Restaurant on nearly 1 ac lot across from Mitchell International Airport. 100% NNN leased. NOI $107K/yr. $1.54M. 7% cap.
  • Office Building in Denver, CO: 10,302 SF well maintained office building along busy retail corridor. Adjacent to center with Target, Sports Authority and PetSmart. 100% leased. NOI $140K/yr. $1.6M. 8.80% cap.

03-12: Tires Plus; MOB; Shopping Center

  • Tires Plus in Jacksonville, FL: 6831 SF auto center built in 2000 on 1 ac lot along main artery. Close to I-95. 20-yrs absolute NNN corp lease with 5-yrs left. NOI $164K/yr with an 8% rent bump in 2016. $2.36M. 7% cap.
  • MOB in Fort Mill, SC: 13,288 SF Class-A multitenant office building in a fast growing (686%) and affluent (AHI $127K/yr) Charlotte metro. 100% leased to Rock Hill GYN-OB, Piedmont Medical Center, Chit Chat Speech-Language Therapy, William Nunn & Co. and LSU Bayview Recovery. $2M. NOI N/A.
  • Shopping Center in Surprise, AZ: 52,134 SF attractive shopping center on over 5 ac lot anchored by Mountainside Fitness, a highly rated on Yelp fitness center in Phoenix suburbs. 100% leased. NOI $694K/yr. $9M. 7.72% cap.

03-11: Senor Tequila’s; Taco Bueno; Office Buildings; Retail Centers

  • Senor Tequila’s in Fort Myers, FL: 9304 SF Mexican restaurant completely renovated in 2014 on 1.73 ac outparcel to Power Center with Super Target, World Market, DSW and Barnes & Noble. Across from Costco and T.J. Maxx. Close to Bell Tower Shops. 10-yrs absolute NNN lease with over 9-yrs left. NOI $171K/yr with 2.5% annual rent bumps. $2.638M. 6.50% cap.
  • Office Building in Woodbury, MN: 20,656 SF Class-A two-story office building in a growing and high income Minneapolis suburbs with an AHI of $86K/yr in 1 mile radius. With easy access to I-494/I94. 100% leased to Prairie Care and Keller Williams Realty. NOI $358K/yr. $4.65M. 7.70% cap.
  • Shopping Center in San Antonio, TX: 134,187 SF well maintained shopping center on 3 ac lot along NW Loop-410. Major tenant include: FAMSA, Inc, Teppanyaki Grill & Buffet and Blast Fitness. Near Ingram Park Mall with Macy’s, Dillard’s, Sears and JCPenney. 87% leased.      7% cap. Price N/A.
  • Office Building in Bohemia, NY: 10,000 SF office/medical office building in high income (AHI $98K/yr) New York suburbs. Close to Mercy and South Nassau Hospital. 76% leased. $1.895M. NOI/Cap N/A.
  • Retail Center in Columbus, OH: 12,516 SF well kept retail center on over 1 ac lot in a high income (AHI $80K/yr in 3-miles) neighborhood. All tenants face main corridor. 100% NNN leased to eight tenants. NOI $141K/yr. $1.665M. 8.50% cap.
  • Taco Bueno in Colorado Springs, CO: 2850 SF brand new Tex-Mex style Mexican cuisine fast food restaurant on .67 ac lot in upper middle class area. With easy access to I-25. 20-yrs absolute NNN corp lease. NOI $110K/yr with 1% annual rent bumps starting in yr-6. $1.84M. 6% cap.
  • Office Building in Phoenix, AZ: 28,594 SF consisting of two well maintained multi-tenant office buildings on nearly 2 ac lot close to Hwy-51. 89% leased. $2.467M. 7.61% cap.

03-10: BWW; Office Buildings; MOB; Retail Centers

  • Retail Center in Centennial, CO: 6948 SF attractive retail center on 1 ac lot in a growing and affluent (AHI $112K/yr in 1 mile) Denver suburbs. Adjacent to King Soopers grocery and Safeway grocery Centers. 100% absolute NNN leased to Budget Transmission and Brakes Plus. NOI $129K/yr. $1.92M. 6.75% cap.
  • MOB in Edmond, OK: 17,213 SF built-to-suit single-tenant medical office building constructed in 1999 on 2 ac lot in growing and upper middle class Oklahoma City suburbs. 11-yrs NNN lease with 5-yrs left to INTREGRIS, a large regional tenant. NOI $308K/yr. $3.635M. 8.50% cap.
  • Shopping Center in Chino, CA: 64,076 SF attractive shopping center built in 1991 on 6 ac lot at a busy retail corridor in upper middle-class San Bernardino County. Close to Hwy-60. 86% NNN leased. NOI $701K/yr. $11.25M. 6.23% cap.
  • Retail Center in Sun City, AZ: 39,443 SF well kept retail center on over 2 ac lot along main retail artery in Phoenix MSA. 91% leased. NOI $384K/yr. $4.925M. 7.80% cap.
  • Buffalo Wild Wings in Texarkana, TX: 6400 SF attractive restaurant constructed in 2007 on 1.25 ac lot with good access and excellent visibility to I-30. Adjacent to Power Center with Cinemark, Home Depot, T.J. Maxx and Beth Bath & Beyond. Across from Lowe’s & Walmart Supercenter and near Central Mall. 100% absolute NNN lease with 5-yrs left. NOI $144K/yr with 2% annual rent bumps. $2.058M. 7% cap.
  • Office Building in Grove City, OH: 27,535 SF Class-B multitenant office building on 3.39 ac lot in fast growing (77% pop growth) and upper middle-class (AHI $76K/yr) Columbus suburbs. Close to I-71. 96% NNN leased to multiple tenants. NOI $315K/yr. $4.5M. 7% cap.
  • MOB in Riverton, UT: 4542 SF Class-B medical office building on ½ ac lot in growing and high income Salt Lake City suburbs. 100% NNN leased. NOI $71K/yr. $965K. 7.40% cap.

03-09: Alexian Brothers Health System; Wendy’s; DaVita; Fast Med; Office Buildings

  • Alexian Brothers Health System in Addison, IL: 11,200 SF Class-A single-tenant medical office building along major corridor in high income (AHI $92K/yr) Chicago MSA. With easy access to I-355. 100% corp lease to well-known medical service provider. NOI $252K/yr with 3% annual rent increases. $3.45M. 7.33% cap.
  • Wendy’s in Oshkosh, WI: 3270 SF Wendy’s built in 2002 in a fast growing area. Between The Medical Center of Aurora and Hwy-41. This is a sale/leaseback investment. New 20-yrs absolute NNN lease to an experienced franchisee. NOI $77K/yr with 1.5% annual rent increases. $1.244M. 6.20% cap.
  • DaVita Dialysis in Cape Coral, FL: 7404 SF attractive medical office building constructed in 2005 in upper middle-class in Fort Myers suburbs. 100% NNN- lease. NOI $147K/yr with 3.5% annual rent bumps. $2.449M. 6.01% cap.
  • Retail Center in Meridian, ID: 8450 SF retail center built in 2007 on .83 ac lot in growing and middle-class (AHI $73K/yr in 3 miles) Boise suburbs. Across from Fred Meyer Grocery Store. 100% leased. NOI $85K/yr. $1.15M. 7.43% cap.
  • Fast Med in Mesa, AZ: 2600 SF Fat Med Urgent Care Center constructed in 2004 on .40 ac lot on Phoenix suburbs. Close to Banner Mesa Medical Center. 10-yrs NNN lease with over 7-yrs left. NOI $80K/yr. $1.1M. 7.30% cap.
  • Strip Center in Bellmore, NY: 11,700 SF strip center on .51 ac lot in high income New York suburbs with an AHI of $119K/yr in 1 mile ring. 100% leased to multiple tenants. NOI $153K/yr. $3M. 5.10% cap.
  • Office Building in Edmond, OK: 5000 SF Class-B multitenant office building on .49 ac lot in fast growing (284% pop growth since 2000) and high income (AHI $96K/yr) Oklahoma City suburbs. 100% leased to three tenants. NOI $80K/yr. $1M. 8% cap.
  • Shopping Center in San Antonio, TX: 122,120 SF attractive shopping center on over 11 ac lot shadow anchored by 203,000 SF Walmart Supercenter. Close to I-10. 81% leased with good tenant mix. 7% cap. NOI/Price N/A.

03-06: Burger King, Regional Plaza, Shopping Centers, Retail Centers

  1. Shopping Center in Lexington, KY: 180,576 SF shopping center renovated in 2003 on over 18 acres of land anchored by 78,337 SF Burlington Coat Factory along major retail artery. Other major national tenants include: Tuesday Morning, Aaron’s, Golden Buffet, Hancock Fabrics and Sherwin Williams.  Adjacent to Walmart and close to Saint Joseph East Hospital. Close to Hwy-60. 100% leased with good tenant mix. NOI $1.07M. $13.37M. 8% cap.
  2. Burger King in Orlando, FL: 4118 SF well maintained Burger King on nearly 2 ac corner lot along busy corridor. Tenant has been at this location since 1994. 100% absolute NNN corp lease with over 4-yrs left. NOI $90K/yr. $1.24M. 7.30% cap.
  3. Retail Center in Katy, TX: 32,387 SF attractive retail center built in 2005 on 4.58 ac outlot to Walmart Supercenter in a fast growing and high income (AHI $107K/yr in 3 miles) Houston MSA. Good tenant mix include: Pizza Hut, State Farm, Subway and Payless Shoe Source, Dentist, Tutoring Center, China Buffet, Hair Salon and Nail Salon just to name a few. 89% NNN leased. $585K/yr. Price: Best Offer.
  4. Retail Center in Lithonia, GA: 32,200 SF eye-catching retail center built in 2003 on 4.55 ac lot at a major signalized intersection in growing Atlanta suburbs. Across from The Mall at Stonecrest. Adjacent big-box retailers include: Walmart, Sam’s Club, Target, DSW, Marshalls and more. Close to I-20. 79% NNN leased with excellent tenant mix. NOI $449K/yr. $5.99M. 7.50% cap.  Upside potential when fully leased.
  5. Strip Center in Richland, TX: 13,805 SF strip center constructed in 2007 on 1 ac lot at a hard corner location in growing and high income Kennewick suburbs with an AHI of $93K/yr. Close to Columbia Center Mall. 92% leased. NOI $199K/yr. $2.85M. 7.01% cap.
  6. Shopping Center in Keiser, OR: 74,800 SF well maintained shopping center on over 5 ac corner lot in Salem suburbs. 96% leased. NOI $792K/yr. $9.9M. 8% cap.
  7. Retail Center in Hillsboro, OR: 29,391 SF well maintained retail center on 1.93 ac lot along Hwy-8 in Portland suburbs. 86% leased. NOI $220K/yr. $2.94M. 7.50% cap. Upside potential when fully leased.
  8. Retail Building in Homewood, IL: 19,215 SF attractive retail center renovated in 2011 on nearly 2 ac lot shadow anchored by new Walmart Supercenter in Chicago suburbs. Across from 500,000 SF Power Center with Target, Home Depot and Menards. 100% leased to Buffalo Wild Wings and Dollar Tree. Close to I-80. NOI $259K/yr. $3.61M. 7.20% cap.
  9. Regional Plaza in Chicago, IL: 111,660 SF shopping center renovated in 2006/2007 anchored by Pete’s Fresh Market. Other national tenants include: Planet Fitness, Fifth Third Bank, Domino’s Pizza and Sally Beauty. With five points of ingress/egress. Across from Walmart Neighborhood Market and close to Mt. Sinai Hospital. NNN leased. NOI $1.436M/yr. $20M. 7.18% cap.
  10. Shopping Center in Milwaukee, WI: 35,327 SF well kept shopping center at a corner location. Near new Walmart. 87% leased to Southern Smoke, Pizza Hut, USPS, The Party Palace, Liberty Tax Service, Hair Salon, Mayfair Rent-A-Car, Aerial Company Inc., Bistro Cafe, Magic Nails, Carriage Cleaners, Goody Gourmet Popcorn and Payday Loan. NOI $311K/yr. $3.617M. 8.62% cap.

 

03-05: Good Times Burger & Frozen Custard, Dollar General, Liberty Dialysis, Retail Centers

  • Good Times Burger & Frozen Custard in Centennial, CO: 2100 SF brand new fast food restaurant on .89 ac lot along main retail corridor in fast growing and high income (AHI $99K/yr in 3 miles) Denver MSA. Near Centennial Medical Plaza, Arapahoe Crossings with AMC Theaters and Hwy-83. Brand new 20-yrs absolute NNN corp lease. NOI $93K/yr with 1% annual rent bumps. $1.562M. 6% cap.
  • Retail Center in Saint Charles, IL: 16,189 SF well maintained retail center at a signalized intersection in affluent Chicago suburbs with an AHI of $102K/yr in a 3 mile radius. Good tenant mix: Valley Lock, Chiropractor, Domino’s Pizza, Benefit Personal Training, Tax/Attorney, Cell Phone Repair and Keller Williams. NOI $110K/yr. $1M. 11% cap.
  • Retail Buildings in Brooklyn Park, MN: 34,400 SF consisting of three attractive buildings on over 3 ac corner lot in Minneapolis suburbs. 90% leased with good tenant mix including: Petco, Caribou Coffee, Chipotle, Jimmy John’s, Panda Express and Game Stop. Close to I-494. NOI $515K/yr. $7.365M. 7% cap.
  • Strip Center in Lincoln, CA: 9961 SF attractive strip center along main corridor in growing and upper middle class Sacramento suburbs. Across from Walmart Neighborhood Market. 90% leased to eight tenants. Actual NOI $91K/yr. $1.375M. 6.60% actual cap. Upside potential.
  • Office Building in Tustin, CA: 11,368 SF consisting of two attractive office buildings on .59 ac lot in upper middle class Orange County. Close to Western Medical Center and Hwy-55. 97% leased. $2.65M. NOI/Cap N/A.
  • Retail Center in Grover Beach, CA: 12,600 SF 12-units well maintained retail center in a coastal city in San Luis Obispo County. Tenants include: Community Health Center, Veterinarian and other wellness related tenants. NNN lease with only one vacancy. NOI $135K/yr. $1.85M. 7.30% cap.
  • Dollar General in Jacksonville, FL: 9014 SF Dollar General in a fast growing (127% pop growth since 2000) and high income (AHI $85K/yr) area. Next to Walgreens. 10-yrs absolute NNN lease. NOI $128K/yr. $2.054M. 6.25% cap.
  • Liberty Dialysis in Victoria, TX: 9000 SF Class-A dialysis center constructed in 2009 on over 1 ac lot close to 296-bed Citizens Medical Center. 100% absolute NNN lease with 8-yrs left to Liberty Dialysis, an affiliate of Fresenius Medical Care. NOI $220K/yr with 2% annual rent increases. $3.146M. 7% cap.

03-04: Elite Care, Taco Bell, Rite Aid, Godfather’s Pizza, Tutor Time

  • Retail Center in Madison, WI: 8614 SF attractive retail center on over 1 ac outparcel to Home Depot and Goodwill center in a growing upper middle class area. With good access to Hwy-14. 100% leased to Subway, Trail This and Wisconsin Indoor Cycling. NOI $85K/yr. $1.069M. 8% cap.
  • Elite Care in San Antonio, TX: 14,878 SF Class-A Elite Care 24 Hour Emergency Center built in 2013 on 2.28 ac corner lot in growing and high income area with an AHI of $85K/yr in 1 mile ring. 100% NNN corp lease with 12-yrs left. NOI $496K/yr. $7.09M. 7% cap.
  • Taco Bell in Las Vegas, NV: 1760 SF franchised fast food restaurant across from Food 4 Less. Near I-515. 100% absolute NNN lease with 4 yrs left to a strong operator with 65-units. NOI $165K/yr. $2.248M. 7.35% cap.
  • Office Building in Cottonwood Heights, UT: 12,798 SF Class-B multitenant office building constructed in 2000 on .86 ac lot in high income (AHI $86K/yr in 3 mile radius) in Salt Lake City suburbs. Close to I-215. 100% lease with good professional tenants mix. NOI $148K/yr. $2.05M. 7.25% cap.
  • Rite Aid in Turlock, CA: 29,860 SF well maintained Rite Aid Pharmacy on 2.59 ac lot along main corridor part of major shopping center with Factory Two U, 99 Cents Only, Goodwill and Big 5 Sporting Goods. 100% absolute NNN lease with over 10-yrs left. NOI $210K/yr. $3.5M. 6% cap.
  • Retail Center in Bell Gardens, CA: 10,000 SF L-shaped well kept retail center on .56 ac lot at a signalized corner location & in densely populated area with over 800,000 residents in a 5 mile radius. Across from Super A Foods. 100% leased to four tenants. NOI $142K/yr. $1.95M. 7.30% cap.
  • Retail Center in Plainville, CT: 22,862 SF well maintained retail center on nearly 2 ac lot at a signalized location in Hartford suburbs. 100% leased. NOI $146K/yr. $2.17M. 6.75% cap.
  • Godfather’s Pizza in Albuquerque, NM: 3883 SF retail building on .90 ac corner lot. New 10-yrs absolute NNN lease. NOI $93K/yr with 10% rent bumps every 5-yrs. $1.55M. 6% cap.
  • Tutor Time in Portage, MI: 10,000 SF single-tenant child care and educational center constructed in 1998 on 1 ac lot in growing Kalamazoo suburbs. Adjacent to The Crossroads Mall. 25-yrs NNN lease with 8-yrs left. NOI $183K/yr. $2.285M. 8.01% cap.