03-30: Lonestar Steakhouse, MOB, Office Buildings, Shopping Centers

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  1. Shopping Center in Ocala, FL: 90,440 SF attractive shopping center built in 1993 on 15.76 ac lot anchored by Save-A-Lot grocery and Beall’s Outlet. Between Walmart Supercenter and Winn-Dixie Plaza. NNN lease with excellent tenant mix. NOI $756K/yr. $8.975M. 8.43% cap.
  2. Medical Office Building in Sicklerville, NJ: 12,665 SF recently renovated multitenant office building in growing and middle class Philadelphia suburbs. 100% leased. $2.1M. NOI N/A.
  3. Strip Center in Sanford, FL: 8436 SF strip center built in 2004 on nearly 1 ac lot at a signalized intersection.  Adjacent to Walmart Supercenter, close to Seminole Towne Center and I-4. 95% leased to national, regional and local tenants. NOI $223K/yr. $3.195M. 7% cap.
  4. Retail Center in Machesney Park, IL: 10,580 SF retail center on 1 ac outlot to Kohl’s in upper middle class Rockford suburbs. Close to Home Depot and Target. 100% NNN leased to H&R Block, Subway and other stable tenants. NOI $156K/yr. $1.734M. 9% cap.
  5. MOB in Spring Hill, FL: 25,435 SF Class-A consisting of three buildings on 2.89 ac lot in Tampa suburbs. Tenants include: DaVita Dialysis, Renal Hypertension, Bright Beginnings and Horizon Home Health Care. 100% NNN leased. NOI $520K/yr. $8M. 6.50% cap.
  6. MOB in Bryan, TX: 11,960 SF Class-A medical office building constructed in 1997 on 1 ac lot across from St. Joseph Regional Health Center. 100% NNN lease with 5-yrs left to St. Joseph Health Systems. NOI $206K/yr. $2.498M. 8.25% cap.
  7. Lonestar Steakhouse in Cedar Rapids, IA: 8052 SF Steakhouse Restaurant on over 1 ac outparcel to Home Depot and along major retail artery. Across from Lindale Mall. 100% absolute NNN corp lease with 7-yrs left. NOI $156K/yr. $1.96M. 8% cap.
  8. Office Building & Restaurant in Poughkeepsie, NY: 35,000 SF consisting of three story multitenant office building anchored by Bank of America and restaurant on 1.40 ac lot in New York MSA. 80% leased. Actual NOI $760K/yr. $9.5M. 8% actual cap. Upside potential.

(c) Transmercial 2015