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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 to find a property that meets your requirements, please call John Bremner at 415-234-6093. Principals Only, Please.
1) Sacramento - Aaron Rents: $1,400,000, 7.7% Cap Rate. This is a 7500 SF free standing newly constructed building with a 10 year corporate NNN lease to Aaron Rents (NYSE Listed) with two 5 year options. 5% increase every five years. Offered at $1,400,000, $186 SF, 7.7% Cap Rate.
2) Perris - Burger King: $1,400,000, 20 Year Lease, 8.0%. Under construction for a multi-unit BK franchisee (to be completed by December), with a new 20 year lease to begin then, with 10% increases every five years. Offered at $1,400,000, $500 per SF, 8.0% cap rate.
3) Concord - Auto Care 2000: $1,500,000, 8.0% Cap Rate. This is a free standing oil changer and auto service facility with a 25 year absolute NNN lease, with 3% annual increases, and a personal guarantee. Tenant/Operator has 20+ years local operating experience. Offered at $1,500,000, $511 SF, 8% Cap Rate.
4) Antioch - Rollins Home Team (ROL): $1,600,000, 7.6% Cap Rate. This is an 8800 SF free standing building occupied by Rollins - Home Team Pest Defense. Rollins is a NYSE company, (NYSE: ROL), which operates several pest control subsidiaries (Orkin, Home Team, Western Pest, etc.) This is a corporate NNN lease, with seven years remaining, and two 5 year options. The lease provides for a 9% rent increase after year four, and 3% annual rent increases during the options. Located adjacent to Century Plaza Retail Center, Costco, Best Buy and Target. Offered at $1,600,000, $182 SF, 7.6% Cap Rate.
5) Fresno - AT&T: $1,600,000, 9.0% Cap Rate. This is a 3700 SF free standing building built in 2008, located on a heavily traveled street (Tulare St.) near Highway 41. The building is leased to AT&T Mobility, a wholly owned subsidiary of AT&T, for five years (10/08 - 10/13) on an absolute triple net basis with two 5 year options with 10% rent increases. Offered at $1,600,000, $433 SF, 9.0% cap rate.
6) Palmdale - Denny's: $1,970,000, 17 Year Lease, 7.9% Cap Rate. This is an absolute NNN lease to a Denny's Restaurant multi-franchisee, with 7% increases every five years, with 17+ years remaining on original 20 year lease. There are two 5-year options. Built in 2002, the building is approximately 4,149 SF, on a 26,502 SF lot. Offered at $1,970,000, $475 per SF, 7.9% cap rate.
7) Modesto - Smart & Final: $2,150,000, 7.6% Cap Rate. This is a free standing building located on a dominant commuter route in Modesto, with Smart & Final (S&P B-/Stable) signed to a fifteen (15) year initial NNN lease (10 years remaining) with CPI increases every five years. Priced below replacement cost at $133 SF. Offered at $2,150,000, $133 SF, 7.6% cap rate.
7) Sacramento - Goodwill Industries: $2,875,000, 8.7% Cap Rate. This is a free standing retail building leased to Goodwill Industries and operated as a Superstore. The tenant is in the sixth year of a ten year lease, and has four 5 year options. The lease provides for annual CPI increases during the remaining term and all option periods. Offered at $2,875,000, $108 per SF, 8.7% cap rate.
8) San Luis Obispo - Applebee's: $3,200,000, 8.5% Cap Rate. A rare opportunity to purchase a solid tenant in a highly desirable coastal market with a 20 year Absolute NNN lease, which commenced on 1/1/07. There are rent increases every five years (8%, 9%, 10%), with four 5 year options. Offered at $3,200,000, $504 SF, 8.5% Cap Rate.
9) Stockton - The Merryhill Preschool: $4,200,000, 9.2% Cap Rate. This preschool facility was completed in 2009, built to suit for the Nobel Learning Communities, Inc. of West Chester, Pennsylvania (NYSE: NLCI) which operates a network of 183 nonsectarian private schools in 16 states across the nation. They lease the property under a 15 year NNN lease that expires 12/31/2023, with two 5 year options. The lease provides for 10% rent increases every five years. Offered at $4,200,000, $350 SF, 9.2% cap rate.
10) Oakland - FAMSA (BBB Rated Corporate Guarantee): $4,345,000, 7.3% Cap Rate. This is a newly constructed (2008) free standing building leased to FAMSA, a multi-billion dollar corporation with over 420 stores. FAMSA is a Mexico based retail chain, with a network of stores including 37 cities in the US. The tenant contributed over $1M to improvements, and entered into a 20 year NNN lease, with 17 years remaining (lease expires 9/1/2027). The lease provides for 12% rent increases every five years (next increase in 2012). Offered at $4,345,000, $244 SF, 7.3% cap rate.
11) Coalinga - Walgreens: $4,415,000, 7.4% Cap Rate. This is a 14,820 SF free standing Walgreens (S&P A+ Rating), newly constructed in 2008 on 1.5 acres. It is being offered at a 7.4% cap rate with a 25 year absolute triple net lease. There are ten 5 year options. No landlord maintenance responsibilities. Offered at $4,415,000, $298 SF, 7.4% cap rate.
12) Hemet - Rite Aid: $6,300,000, 8.3% Cap Rate. This is a newly built 17,272 SF Rite Aid drugstore on 1.6 acres, with a new 20 year NNN corporate lease. Offered at $6,300,000, $365 SF, 8.3% Cap Rate.
13) San Diego - 24 Hour Fitness: $7,975,000, 10.0% Cap Rate. Brand new 24 Hour Fitness (S&P Rating B) with a 15 year NNN lease, plus three 5 year options. 10% rent increases every five years. Offered at $7.975,000, $228 SF, 10.0% cap rate.
14) Fairfield - Orchard Supply Hardware: $8,500,000, 8.5% Cap Rate. This OSH serves as the anchor tenant for the Fairfield Corners Shopping Center, with a new 19 year absolute NNN lease with three 5 year options. There are rent increases of 11% beginning 2013 and every five years thereafter. The lease is guaranteed by Orchard Supply Hardware LLC, which is owned by Sears Holding Corp. Offered at $8,500,000, $194 per SF, 8.5% cap rate.
15) Santa Clara - Home Depot: $16,500,000, 8.0% Cap Rate. This is a Home Depot with five years remaining on its NNN lease, with four 5-year options. A Silicon Valley location with below-market rent, and easy access to freeways. BBB+ Rated tenant. Offered at $16,500,000, $172 per SF, 8.0% Cap Rate.
For more information, please call John Bremner 415-234-6093. Principals Only, Please.
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