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

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  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.