Best picks of 09-12-08

1. Strip center in Yorktown, VA: 10,400 SF retails strip on 1.42 acres lot in a stable city North of Norfolk. 100% NNN leased by 4 good tenants. NOI $191K/yr. $2.55M. 7.5% cap.


2. Circuit City in Calumet City, IL: 33,237 SF retail building on 3.5 acres lot in front of 1.379 million Squarefeet River Oaks Center mall in Chicago suburb. 22 yrs absolute NNN lease with 7 yrs remaining. NOI $425K/yr. $3.7M. 11.5% cap.


3. Rite Aid Pharmacy in Mauldin, SC: 10,908 SF pharmacy at the intersection of 2 major arteries in Greenville metro. 100% NN leased. NOI $208K/yr. $2.607M. 8% cap.
   - Great location: across the street from Publix Supermarkets & Kmart.
   - Fast growing metro (28% since 2000)
   - Secured investment: tenant in recession-proof business.
4. Office/Retail center in Phoenix, AZ: 38,594 SF multi-tenant building on 2.86 acres lot with over 475K residents within 5 miles radius. 100% NNN leased. NOI $439K/yr. $5.168M. 8.5% cap!


5. Advance Auto Parts in Richmond, VA: 7000 SF brand new auto part center. New 15 yrs NNN lease by a public company (NYSE: AAP) with S&P rating of BB+/stable. NOI $113K/yr. $1.459M. 7.75% cap.


6. KFC in Woodburn, OR: 2430 SF KFC on ½ acre parcel just off I-5 exit in South of Portland. 20 yrs NNN lease with 17 yrs left. NOI $87K/yr. $1.116M. 7.8% cap.


7. Gold’s Gym in San Antonio, TX: 43,548 SF gym on 2.78 acres lot just off Loop 410 exit. 100% NNN leased till 2013. NOI $275K/yr. $3.35M. 8.41% cap.
   Corp run location with below market rent (est. by 40%): upside potential
   - Tenant spent $300K in improvements last year: indication of long term commitment.
   - Great location: near country club, TX University Health Center and Methodist Hospital.
8. Commercially-zoned land in Gilroy, CA: 1.67 acres lot at the corner of Hwy 152 and Santa Theresa and near Hwy 101. $2M.


9. Cy-Fair Urgent Care Center in Cypress, TX: 7200 SF Urgent Care clinic built in 2007 on 1.07 acres parcel in a fast growing (71% since 2000) and wealthy Houston metro. 100% NNN leased till 2015. NOI $169K/yr. $2.256M. 7.5% cap.
   Tenant in a growing, profitable and recession-proof business

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