03-03: Firestone Auto Care; IHOP Restaurant; Regional Center; Mixed-Use; Office Building

  1. Shopping Center in Indianapolis, IN: 59,782 SF consisting of four buildings completed in 2003 on over 8 ac lot in growing middle-class area. Adjacent to Walmart Supercenter. Major tenants include: Rally’s Hamburgers, Sally Beauty, Buffalo Wild Wings, Deals (owned by Dollar Tree), GameStop, Papa Murphy’s Pizza and FedEx Kinko’s. 100% leased. NOI $704K/yr. $9.25M. 7.62% cap.
  2. Retail Center in Cincinnati, OH: 30,511 SF attractive retail center built in 1994 on 6 ac outparcel to 915,956 SF Northgate Mall with Macy’s, DSW, Sears, Burlington Coat Factory, Marshalls, Michael’s, Ulta and HHGregg. With easy access to I-275. 100% NNN leased to Kabuto Japanese Restaurant, Sprint, Life Uniform and Tuesday Morning. NOI $235K/yr. $3.2M. 7.37% cap.
  3. Shopping Center in Las Vegas, NV: 39,600 SF well kept shopping center on 3.58 ac lot along main retail artery & in densely populated area. Close to I-515. 94% leased. NOI $487K/yr. $6.97M. 7% cap.
  4. Regional Center in Clovis, CA: 88,000 SF attractive shopping center on 7.59 ac lot at a signalized corner location. Across from Sunflower Marketplace with Walmart, Sally Beauty Supply, Goodwill, Walgreens and more. Between Sierra Vista Mall and Hwy-4. National tenant include: Big Lots, DD’s Discount, Hometown Buffet, Taco Bell, Long John Silver and A&W. 93% leased. NOI $847K/yr. $13M. 6.52% cap.
  5. Mixed-use in Fair Oaks, CA: 17,000 SF Class-B office/retail building at a corner lot in high income (AHI $104K/yr in 1 mile) Sacramento suburbs. 85% leased. NOI $154K/yr. $2.2M. 7% cap.
  6. Office Building in Murray, UT: 24,573 SF Class-B multitenant office building constructed in 1995 on 2.77 ac lot in growing Salt Lake City suburbs. Next to Murray Central Station and across from Intermountain Health Center. 100% NNN leased. Pro forma NOI $283K/yr. $4.056M. 7% cap.
  7. Firestone in Fort Wayne, IN: 7740 SF Firestone auto center built in 2005 on 1.39 ac outparcel to Menards along Hwy-27. Adjacent to Walmart Supercenter. 100% NNN lease with 6-yrs left. NOI $150K/yr. $2.151M. 7% cap.
  8. IHOP in Clearwater, FL: 4424 SF IHOP Restaurant on .52 ac lot on an off/on ramp of Hwy-19. Next to Super 8 Hotel and across from Walmart Supercenter. 100% NNN lease with 9-yrs left. NOI $82K/yr. $1.3M. 6.34% cap.

(c) Transmercial 2015

03-02: Fitness Evolution; Zaxby’s; AAA Auto; Wild Berries Restaurant

  1. Shopping Center in Brownsville, TX: 56,204 SF shopping center built in 2002 on 5.85 ac lot in a fast growing area. Across from 75,000 SF H-E-B and adjacent to new 195,000 SF Walmart Supercenter. 100% NNN leased. NOI $749K/yr. $9.991M. 7.50% cap.
  2. Fitness Evolution in Modesto, CA: 43,347 SF fitness center on 2.62 ac lot along major artery. 20-yrs absolute NNN corp lease. NOI $396K/yr with 1.25% annual rent increases. $5.657M. 7% cap.
  3. MOB in Lancaster, CA: 10,646 SF Class-A single tenant medical office building completed in 2005 on over 1 ac lot in growing Los Angeles suburbs. Adjacent to 420-bed Antelope Valley Hospital and close to Hwy-14. New 10-yr NNN lease to High Desert Gastroenterology and Advanced Endoscopy and Pain Center. NOI $389K/yr with 3% annual rent bumps. $5.986M. 6.50% cap.
  4. Zaxby’s in Jonesboro, GA: 3195 SF attractive franchised Zaxby’s Restaurant built in 2006 on .75 ac lot at a signalized corner location in fast growing Atlanta suburbs. Close to Southlake Pavilion Power Center with Costco, AMC Theaters, Burlington Coat Factory, T.J. Maxx and Barnes & Noble. Near Southlake Mall and I-75. 11-yrs absolute NNN lease. NOI $167K/yr. $2.391M. 7% cap.
  5. Retail Center in Leigh, FL: 25,000 SF retail center built in 2006 on over 3 ac lot along major corridor in Cape Corral suburbs. 100% leased. NOI $467K/yr. $6.2M. 7.5% cap.
  6. Strip Center in Matthews, NC: 13,888 SF strip center built in 2008 on 1.61 ac lot in high income (AHI $94K/yr) Charlotte suburbs. Next to I-485. 100% NNN leased. Pro forma NOI $224K/yr. $2.64M. 8.50% cap.
  7. MOB in Mathews, NC: 11,413 SF Class-B multitenant medical office building in high income Charlotte suburbs. Adjacent to Novant Health Mathews Medical Center. 100% leased. NOI $131K/yr. $1.649M. 8% cap.
  8. AAA in Manteca, CA: 6492 SF Class-B single tenant office building constructed in 1990 in growing upper middle-class San Joaquin County. 100% NNN lease with 3-yrs left to AAA, a brand name tenant. Near Kaiser Permanente. NOI $102K/yr. $1.43M. 7.20% cap.
  9. Retail Center in Orlando, FL: 20,160 SF well maintained thirteen units retail center built in 2008 along busy corridor. 100% NNN leased. NOI $156K/yr. $1.95M. 8% cap.
  10. Wild Berries Restaurant in Normal, IL: 6230 SF Wild Berries Restaurant on over 1 ac outparcel to major Power Center in Bloomington suburbs. 100% NNN lease with 5-yrs left. NOI $148K/yr. $1.75M. 8.50% cap.

(c) Transmercial 2015