Best picks of 09-05-08

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AHI: Avg Household Income

1. Shopping center in Plano, TX: 78,742 SF 12-unit recently re-developed shopping center on 7 acres parcel. Located in a fast growing and affluent Dallas suburb with AHI of $112K/yr within 5 miles radius. 92.5% NNN leased. Proforma NOI $915K/yr. $10.75M. 8.5% cap.
   - Anchored by Anna’s Linens, Famsa Furniture, and Patricia shoes all with 10 yrs leases.
   - Upside potential
2. Shopping center in Waukegan, IL: 27,687 SF well-maintained shopping center on 2.6 acres in stable Chicago metro. 88% occupied. NOI $354K/yr. $4.75M. 7.46% cap.
   - Below market rent means potentially higher cash flow
   - Only $171/SF means upside potential for appreciation
3. Medical Office building in Oakland, CA: rare 24,888 SF 4-story medical office building. 94% leased. NOI $437K/yr. $6.25M. 7% cap.
   - 1 short block from Alta Bates Summit Medical center
   - Close to I-580, I-980 & Bay Bridge. A short distance to San Fran.
   - Stable tenancy: average 14 yrs.
4. Medical building in Columbus, OH: single-tenant medical office building in Columbus suburb. 100% NNN leased. NOI $147K/year. $1.47M. 10% cap.
   - Near Mt Carmel East hospital.
   - Easy access to I-270
5. Rite Aid in Rochester, NY: 11,348 SF Rite Aid built in 2000 on 1.36 acres parcel. 20 yrs NN lease with 12 yrs remaining. NOI $348K/yr. $4.35M. 8% cap.
   - Secure investment: tenant in recession-proof business
   - 10% rent increase in 2011 means 8.8% cap then
6. Smokey Bones Bar & Grill in Fairview Heights, IL: 8571 SF restaurant on 1.67 acres of land in St Louis metro. 20 yrs absolute NNN lease. NOI $174K/yr. with 1.75% annual rent increase. $2.117M. 8.25% cap.
   - Bustling retail area: close to St Clair Square Mall and Market Place Mall
   - Strong corp guaranty by an entity with 70 locations and $10 Million equity
   - Location with strong annual gross revenue of $2.63M: you will get your rent check
   - No landlord responsibilities: ideal for investors with a busy career
7. Shopping center in Parker, CO: 12,445 SF retail center in a booming (69% growth since 2000) and affluent Denver suburb with AHI of $101K/yr within 5 miles radius. 100% leased. NOI no avail. $1.9M.
8. Quality Inn & Suites in Arlington, TX: 119 units mostly 2-room suites on over 3 acres of land in a growing and strong income Dallas metro. $5.69M.
   - Near new Cowboy stadium
   - Tennis & basketball courts, swimming pool, exercise facility, guests laundry, meeting rooms.
   - On State Hwy 30 with easy access to I-30
   
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