Thursday, September 11, 2008

Best picks of 09-11-08

  1. Taco Bell in Phoenix, AZ: 2246 SF well-kept Taco Bell Restaurant with drive-thru located on intersection surrounded by many national tenants. 100% NNN lease. NOI $74K/yr. $900K. 8.28% Cap.
    - Densely populated area
    - Close to Loop-202/Route-51
    - Great frontage
  2. Strip Center in Katy, TX: 15,000 SF attractive retail center on 1.67 acres built in 2005 at signalized corner. 100% Occupancy. NNN. NOI $254K/yr. $3.250M. 7.83% Cap.
    Located in wealthy(MHI $94K/yr) Houston suburb
    - Near I-99
  3. Village Springs Center Altamonte Springs, FL: 5000 SF maintained strip center on ½ acre with stable tenants blocks from Hwy-434 in Orlando suburb. 100% NNN leased. NOI $73K/yr. $1.050M. 7% Cap.
  4. Panera Bread Restaurant in Collinsville, IL: 4,585 SF Panera Bread Restaurant with drive-thru on .97 acre lot built in 2007 located just of I-55. 15 years absolute NNN lease. NOI $158K/yr. $1.875M. 8.44% Cap.
    - Corp guaranty with 5% rent increases every five years
    - Anchored by Wal-Mart/Home Depot
    - 10 miles east of St. Louis
  5. Wendy’s Restaurant on Sunnyvale, CA: 2,500 SF well-maintained Wendy’s Restaurant on 1.03 acre lot. 100% NNN lease. NOI $129K/yr. $2.245M. 5.75% Cap.
    - Conveniently located between Hwy 101/237 & 880
    - Upside potential: tenant currently paying below market rent
    - Prosperous area (AHI $95K/yr within 1 mile radius)
  6. Office Building in San Jose, CA: 11,358 SF 11 units office building on Hamilton Ave on .59 acre lot built in 1963 with plenty of parking. NOI $191K/yr. $2.799M. 6.83% Cap.
    - Only $246 per SF.
    - Affluent neighborhood (AHI $115K/yr within 1 mile radius)
    - Price Reduced
    - Irreplaceable location: close to The Pruneyard near Hwy-17

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