04-21: Burger King, Just Brakes, Starbucks Coffee, Malibu Steak and Seafood, California Family Fitness, MOB

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  1. Burger King in Phoenix, AZ: 3500 SF Burger King on .80 ac outparcel to Albertsons shopping center.  100% NNN lease with 3 yrs left.  NOI $94K. $1.461M. 6.5% cap.
  2. Retail Center in Milford, OH: 13,460 SF retail center on 2 ac lot in Cincinnati suburbs. Adjacent to Kroger supermarket, Meijer Superstore and Home Depot. 100% leased. NOI $277K/yr. $3.703M. 7.50% cap.
  3. Just Brakes in Cape Coral, FL: 4428 SF completely renovated auto center on .52 ac lot along major corridor. Across from a shopping center anchored by Publix Grocery. Close to Walmart Supercenter. New 15-yrs NNN lease. NOI $117K/yr with 10% rent bumps every 5-yrs. $1.885M. 6.25% cap.
  4. Starbucks in The Colony, TX: 841 SF drive-thru Starbucks coffee on an outlot to Walmart Supercenter in high income (AHI $100K/yr in 3 miles) Fort Worth/Dallas suburbs. Across from Target and Ross Dress for Less centers. With easy access to Hwy-121.  100% NNN lease with 2-yrs left. NOI $100K/yr. $1.55M. 6.50% cap.
  5. Malibu Steak and Seafood in Pearland, TX: 12,238 SF freestanding restaurant on 2.56 ac lot in fast growing and high income Houston suburbs with an AHI of $90K/yr in a 3 mile ring. Newly executed 10-yrs lease. NOI $160K/yr. $2M. 8% cap.
  6. California Family Fitness in Sacramento, CA: 17,600 SF fitness center on 2 ac lot in upper middle class area. With easy access to I-5. 100% absolute NNN lease with over 10-yrs left to California Fitness Center, a regional operator with 20 locations. NOI $144K/yr with annual rent bumps. $2.304M. 6.25% cap.
  7. Shopping Center in American Fork, UT: 148,180 SF neighborhood center on over 9 ac lot in Salt Lake City suburbs. Across from American Fork Hospital. 95% NNN lease with national and regional tenants. NOI $1.510M/yr. $19M. 7.94% cap.
  8. MOB in Henderson, NV: 5164 SF Class-B multitenant medical office building. Close to 219-bed St Rose Dominican Hospital-Siena. 100% NNN leased to three tenants. NOI $88K/yr. $1.264M. 7% cap.
  9. Retail Center in Mesquite, TX: 10,850 SF well maintained retail center on nearly 1 ac lot at a hard corner location in growing Dallas suburbs. Next to I-635. 100% leased to Subway, ACE Cash Express, Brooks Backyard BBQ, LA Insurance and Benchmark Consulting. NOI $171K/yr. $2.1M. 8.15% cap.
  10. Shopping Center in Charlotte, NC: 64,584 SF shopping center built in 1999 on nearly 9 ac lot next to newly completed I-485 exit.   Anchored by BI-LO Supermarket at a hard corner location in a high income (AHI $91K/yr in 3 miles) area. 100% NNN leased. NOI $773K/yr. Price reduced from $9.484M to $9.05M. 8.55% cap.

 

(c) Transmercial 2015