04-08: Hereford House Steakhouse, Strip Centers, Retail Centers, Office Buildings

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  • Retail Center in Indianapolis, IN: 16,785 SF attractive retail center built in 2008 on 1.79 ac corner lot close to I-74/465.  Tenants include: Huntington Bank, Subway, Sprint, Noble Romans, Gone Kountry and Sky Nails. NOI $257K/yr. $3.32M. 7.75% cap.
  • Hereford House in Leawood, KS: 11,055 SF Steakhouse Restaurant on 1 ac outparcel to Town Center Plaza in high income (AHI $98K/yr) Kansa City suburbs. Close to Menorah Medical Center. 15-yrs absolute NNN lease with 12-yrs left to tenant with 4 locations.  NOI $254K/yr with annual rent increases. $3.512M. 7.25% cap.
  • Office Building in Flower Mound, TX: 16,415 SF Class-B consisting of three medical/office  buildings completed in 1998 on 1.77 ac lot in growing and prosperous Fort Worth/Dallas suburbs with an AHI of $134K/yr. 97% leased to multiple tenants. Actual NOI $206K/yr. $2.55M. 8.10% cap.
  • Retail Center in Altamonte Springs, FL: 52,800 SF well maintained retail center along busy corridor in Orlando suburbs. Close to Altamonte Mall and I-4. Actual NOI $513K/yr. $5M. 10% cap.
  • Retail Center in Kissimmee, FL: 42,183 SF attractive retail center on 4.53 ac lot along Hwy-530 in Orlando metro. Close to Florida Hospital Celebration Health Hospital and I-4. Major tenants include: Ponderosa Steak House and Big Bargain World. 88% leased. Actual NOI $512K/yr. $5.1M. 10.05% cap. Upside potential.
  • Starbucks Coffee in Little Rock, AR: 1750 SF Starbucks Coffee constructed in 2006 on .46 ac lot along busy retail corridor. Near I-430. 10-yrs NNN- corp lease with 2-yrs left. NOI $92K/yr. $1.23M. 7.50% cap.
  • Strip Center in Edinburg, TX: 12,025 SF attractive strip center built in 2007 on over 1 ac lot in McAllen suburbs. Across from Walmart Supercenter. 90% NNN leased. NOI $236K/yr. $3.29M. 7.20% cap.
  • Retail Center in Minneapolis, MN: 30,712 SF well kept retail center at a corner location. 90% leased to Family Dollar, Mega Wash, Adult Day Care and Nokomis Child Care Center. Actual NOI $228K/yr. $2.6M. 8.80% cap.
  • Shopping Center in Topeka, KS: 37,189 SF shopping center on 2.83 ac lot close to West Ridge Mall and I-470. 100% leased to 4 tenants: Goodwill, Going Bonkers, Verizon and Bella Salon. Pro forma NOI $304K/yr. $3.5M. 8.70% cap.
  • Retail Center in Chandler, AZ: 11,665 SF attractive retail center in booming (1,586% pop growth since 2000) and affluent (AHI $112K/yr) Phoenix suburbs. 100% leased. NOI $258K/yr. $3.569M. 7.25% cap.

(c) Transmercial 2015