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02-06: Burger King, HHGregg, Urgent Care, Church’s Chicken, Strip mall


  • Shopping Center in Farmington, NM: 19,720 SF shopping center on 1.92 ac lot on a primary retail artery.  High income area. Shadow anchored by Ashley Furniture, adjacent to Target, Lowes, Walmart and near Animas Valley Mall.  100% NNN leased.  Tenants include Olive Garden, Edward Jones, Redbrick Pizza.  NOI $396K/yr. $4.716M. 8.46% cap. Note: flyer not attached, full brochure available.
  •       Shopping Center in Friendswood, TX: 33,379 SF shopping center built in 1996 &2004 on 2.4 acres lot in affluent Houston suburbs with AHI of $146K/yr in 1 mile.  Shadow anchored by HEB grocery. 100% NNN leased.  Major tenants include University of Texas Medical Branch, University General Hospital, Friendswood Fitness. NOI $335K/yr.  $3.995M. 8.38% cap.
  •       Retail/Office Center in Clermont, FL: 41,902 SF 2-story retail/office center completed in 2006 on 4.3 ac lot on a busy artery in Orlando metro.  Leased to medical retail tenants.  NOI $631K/yr. $7.65M. 8.25% cap.
  •       Burger King in Phoenix, AZ: 3500 SF restaurant on .8 ac lot.  100% NNN leased with 3 yrs left.  NOI $95K/yr. $1.46M. 6.5% cap.
  •       HHGregg Electronic in Chesapeake, VA: 25,150 SF single tenant retail center built in 2010 on 2.1 ac lot.  Adjacent to Kohl’ s, Walmart Supercenter and Sam’s Club.  100 NNN- leased with 11 years left to HHGregg, a regional electronic and appliances store. NOI $401K/yr. $5.244M. 7.65% cap.
  •       Urgent Care Center in North Charleston, SC: 8527 SF urgent care center built in 1992 on .42 ac lot.  100% NNN leased till 2022 to Concentra Health Services, Inc., a subsidiary of Humana (NYSE: HUM) with 330 medical centers in 30 states.  NOI $226K/yr with 2% annual rent bumps. $3.5M. 6.5% cap.
  •       Strip Mall in Sacramento, CA: 10,800 SF well-maintained 8-unit strip center on .77 ac lot.  95% leased.  NOI $78K/yr. $1.3M. 6% cap.
  •       Church’s Chicken in Norman, OK:  2172 SF restaurant on .59 ac lot.  New 20 yrs NNN lease. NOI $82K/yr. with 1.25% annual rent bumps from year 6. $1.146M. 7.15% cap.