|
|
Single Tenant NNN Retail Properties
These are some of the better single tenant NNN leased retail properties available. For more information about any of these listings, or other triple net properties thoughout the US, or to find a property that meets your requirements, please call John Bremner at 415-234-6093.
Principals Only, Please.
1) Virginia Beach, VA - Learning Center: $1,065,000, 8.8% Cap Rate, 11 Years Remaining on Corporate NNN Lease. 10% rent increases every five years (next increase 3/14. Corporate guarantee by Learning Care Group and ABC Learning Centres. Offered at $1,065,000, 8.8% cap rate.
2) Bellevue NE - Jiffy Lube: $1,170,000, 20 Year NNN Lease, 8.5% Cap Rate. Newly constructed (February 2012 completion), with new 20 year NNN lease with 10% bumps every five years. Tenant operates over 450 Jiffy Lube locations in 19 US Markets, as the largest independent quick lube operator in the US. Offered at $1,220,000, 8.5% cap rate.
3) Tulsa OK - Popeye's: $1,293,000, 14 Years Corporate NNN Lease, 8.1% Cap Rate. 14 years remaining on a NNN lease, with annual rent increases based on annual gross sales. Newly built (2010) at a hard corner signalized location with heavy traffic, and a population of 210,000+ within a five mile radius. The tenant, Sun Holdings LLC owns and operates 68 Popeye’s and over 200 other restaurants, and is the 2nd largest Popeye’s franchisee. Popeye’s is the 2nd largest fried chicken restaurant in the US, with over 2,000 restaurants. Offered at $1,293,000 with a cap rate of 8.1%.
4) Fountain Inn NC - Hardee's: $1,320,000, 7.75% Cap Rate, 20 Year Corporate NNN Lease. This is a free-standing Hardee's Restaurant with a 20 year absolute triple net lease (NNN) guaranteed by Hardee's Food Systems. The rent increases by 10% every five years. There are no landlord management responsibilities. Offered at $1,320,000, 7.75% cap rate.
5) Omaha NE - Tuffy Auto Service: $1,408,000, 8.5% Cap Rate, 16 Year Corporate NN Lease. Pad site to a Super Target anchored retail center. Corporate guarantee - Tuffy operates and franchises over 400 Tuffy Auto Service Centers. 88,000+ population within 5 mile radius. Offered at $1,408,000, with an 8.5% cap rate.
6) San Antonio TX - Ojos Locos Sports Cantina: $1,500,000, 8% Cap Rate, 14 Year Absolute NNN Ground Lease. This is a 5,200 SF restaurant located within the Exchange Plaza Shopping Center, dirrectly facing Loop 410 with over 164,000 vehicles per day, and a population of 340,000+ within a 5 mile radius. The lease has three 5-yr options with 10% increases every five years. The tenant has invested over $1,000,000 on the building improvements (which revert to the landlord at the end of the lease). Offered at $1,500,000, with a cap rate of 8%.
7) Memphis TN - Family Dollar: $1,700,000, 8.3% Cap Rate, 10 Year Corporate NN Lease. This Family Dollar is in a dense location with over 250,000 population within a 5 mile radius. Currently under construction, Family Dollar has signed a new 10 year corporate guaranteed lease with four 5-yr options with rent increases. Offered at $1,700,000 with an 8.3% cap rate.
8) Noblesville IN - KinderCare: $1,800,000, 11 Year Absolute Corporate NNN Lease, 7.8% Cap Rate. The tenant, Knowledge Learning Corporation (dba KinderCare) is the leading private provider of early childhood education, with 1,700 community centers in 38 states. The subject property is an 8,200 SF building on 2.2 acres of land, at the entrance to the South Harbour neighborhood. Offered at $1,800,000 with a 7.8% cap rate.
9) Corpus Christi - Goodyear: $2,265,000, 7.75% Cap Rate, 9 Year Corporate NN Lease. This is a newly built to suit (2008) Goodyear Tire location with a12 year NN lease with Goodyear (S&P rated BB-), with six 5-yr options. Rents increase by 5% every 5 years. There is a 20 year warranty on the roof. Corner location with 90,000 vehicles per day. Offererd at $2,265,000 with 7.75% cap rate.
10) Jacksonville FL - Verizon: $2,425,000, 10 Year Corporate NN Lease, 7.75% Cap Rate. This is a newly built (due to open 1/1/12), free standing Verizon store located within the River City Marketplace, the largest shopping complex in the market (850,000 SF). Verizon Inc. (Rated A by S&P) has signed a 10 year NN lease with two 5-yr options. Offered at $2,425,000 with a cap rate of 7.75%
11) Murfreesboro TN - O'Charley's: $2,800,000, 7.5% Cap Rate, 11 Year Corporate NNN Lease. This is a company operated O'Charley's flagship site, with 11 years remaining on a a NNN lease, with 1.75% annual increases. O'Charley's operates 245 restaurants in 19 states in the southeast and midwest, as well as 116 Ninety Nine Restaurants in New England and Mid-Atlantic states. Offered at $2,800,000 with a 7.5% cap rate.
12) Crestview FL - Staples: $3,950,000, 7 Year NN Corporate Lease, 8.5% Cap Rate. Newly built to suit (2009) for Staples, Inc, (S&P rated BBB), with 7 years remaining on 10 year corporate guaranteed NN lease, with four 5yr options. Located on major retail corridor, near Walmart, Lowe's, Walgreens, etc. Offered at $3,950,000 with a cap rate of 8.5%
13) Bakersfield CA - Golden Corral: $4,410,000, 15 Year Corporate NNN Lease, 7.5% Cap Rate. This is a newly built (2011) Golden Corral restaurant, with the new prototype Golden Corral. Golden Corral Corporation, the leading buffet chain in the country with over 480 units in 41 states, and sales in excess of $1.5B annually, guarantees the 15 year, absolute NNN lease, with 5% increases every five years. Offered at $4,410,000, with a cap rate of 7.5%.
14) Charlotte NC - Haverty's Furniture: $6,600,000, 8 Year Corporate NNN Lease, 9.2% Cap Rate. This is a newly built (2000) class A building absolutee NNN leased with 8 years remaining and five 5-yr options by Haverty's Furniture, (NYSE: HVT). Rents increase by 5% every five years. Haverty's operates 118 stores in 17 states, with annual sales over $588,000,000. Strong retail location, with little vacancy or turnover. Offered at $6,600,000, with a cap rate of 9.2%.
15) Fort Worth TX - 24 Hour Fitness: $8,825,000, 15 Year NNN Lease, 8.5% Cap Rate. This is a newly built (2008) 24 Hour Fitness center, with a 15 year NNN lease, with 12.5% increases every five years. The property is part of the Landmark Lakes Center, a 228,000 sf center anchored by Lowe's and Best Buy. This is a dominant retail area with over 138,000 population within a five mile radius. Offered at $8,825,000 with a cap rate of 8.5%
For more information, or to find other triple net leased properties, please call John Bremner 415-234-6093.
Principals Only, Please.
|
|
