04-06: Rite Aid, Burger King, Office Building, Strip Centers, Shopping Centers

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  1. Strip Center in Aurora, CO: 15,800 SF attractive strip center built in 2006 on 1.65 ac lot at a hard corner location in high income (AHI $93K/yr in 3 miles) Denver suburbs.  Tenants include: Big 5 Sporting Goods, Subway, H & R Block and Quincy Liquor. 100% NNN- leased. NOI $336K/yr. $4.082M. 8.25% cap. Buyer to assume $2.804M at 5.57% interest rate.
  2. Rite Aid in Antioch, CA: 16,708 SF well maintained drive-thru pharmacy constructed in 2000 on nearly 2 ac corner lot in high income (AHI $96K/yr) Contra Costa County. Adjacent to Epic Care and close to Sutter Delta Medical Center.  20-yrs NNN- corp lease with over 5-yrs left. NOI $303K/yr. with 5% rent bump each 5 yrs options.  $5M. 6.07% cap.
  3. Shopping Center in Chicago, IL: 29,891 SF 14-units well maintained shopping center on over 1 ac lot along major retail artery. 92% leased with good tenant mix including: Aaron’s Little Caesars, Sprint, Subway and Universal Dental Group. NOI $444K/yr. $5.855M. 7.59% cap. Upside potential when fully occupied.
  4. Retail Center in Meridian, ID: 22,008 SF retail center constructed in 1999 on 1.71 ac lot at a high traffic location in growing (49% pop growth since 2000) and upper middle Boise suburbs with an AHI of $83K/yr in 1 mile ring. Across from Meridian Crossroads with, Sportsman’s Warehouse, Ross, Shopko, PetSmart and Beth Bath & Beyond. Close to St. Luke’s Meridians Medical Center and I-84. 100% leased. NOI $269K/yr. $3.845M. 7% cap.
  5. Office Building in Santa Ana, CA: 10,808 SF Class-B multitenant office building on .43 ac lot in densely populated Los Angeles suburbs. Close to Kindred Hospital Santa Ana and with easy access to I-5. 98% occupied. NOI $113K/yr. $1.275M. 8.92% cap.
  6. Burger King in Louisville, KY: 3159 SF fast food restaurant remodeled in 2012 on 1.24 ac lot with good visibility. New 10-yrs NNN lease. NO $82K/yr. $1.38M. 6% cap.
  7. Neighborhood Center in Lake Stevens, WA: 96,341 SF attractive shopping center on over 12 ac lot in high income Seattle suburbs. Anchored by 22,289 SF Rite Aid, Dollar Tree & Ace Hardware. Shadow anchored by Albertsons. 98% leased. $1.259M/yr. $18.25M. 6.90% cap.
  8. Strip Center in Fort Wayne, IN: 12,227 SF attractive strip center on 1.33 ac lot in a high income (AHI $94K/yr) neighborhood. Adjacent to Walgreens and across from Kroger grocery center. Near Dupont Hospital Outpatient Hospital and I-69. 100% NNN leased with national tenants. NOI $224K/yr. $2.839M. 7.90% cap.
  9. Retail Center in Lexington, KY: 13,500 SF attractive retail center on .87 ac lot along busy retail corridor. 80% leased. Actual NOI $124K/yr. $1.55M. 8% actual cap. Upside potential.
  10. Retail Center in Lilburn, GA: 12,480 SF retail center constructed in 2005 on 1.70 ac corner lot in growing Atlanta suburbs. Close to Walmart Supercenter and Home Depot. 100% leased to ten tenants. NOI $193K/yr. $2.415M. 8% cap.

(c) Transmercial 2015