Tuesday, September 30, 2008

Best retail/commercial properties of 09-29-08

Please email brochure request to maria@efundingcom.com
AHI: Avg Household Income

  1. Shopping center in Fort Wayne, IN: 32,000 SF shopping center built in 1999 on 6.78 acres parcel. 90% leased. NOI $456K/year. $4.875M. 9.36% cap.
    - Adjacent to the new Walmart, Petsmart and Office Depot
    - Assuming 3.395M loan at loan 5.7% interest.
    - Fast growing city with AHI over $88K/yr within 1 mile radius
  2. Pep Boys Auto in Stockton, CA: 20,923 SF Pep Boys Auto Parts (NYSE: PBY) on 1.48 acres parcel. 15 yrs NNN lease. NOI $230K/yr with 1.5% annual rent bump. $3.627M. 6.35% cap.
  3. Applebee’s Restaurant in Visalia, CA: 5000 SF Applebee’s built in 1997 in a fast growing Central Valley town. 100% NNN leased. NOI $203K/yr. $3.2M. 6.37% cap.
  4. La Petite Academy in Mesa, AZ: 5453 SF child care center on 2/3 acre lot in a growing Phoenix metro. 100% NNN leased with 3.5 yrs left. NOI $73K/yr. $996K. 7.4% cap.
    - National child care provider
    - Tenant has been at this location since 1982
  5. Shopping center in New Port Richey, FL: 46,400 SF newly renovated shopping center on 4 acres lot on a main artery in the Tampa metro. 98% NNN leased. NOI $482K/yr. $6.1M. 7.9% cap.
    Turn key restaurant in Roseville, CA: 4558 SF restaurant built in 1997 on 2.7 acres of land in a growing middle-class Sacramento metro. $1.325M.
    - Stainless steel commercial kitchen
    - Walkin freezer
    - Seating for 153
  6. Retail building in San Jose, CA: 1500 SF free standing retail building on a pad site to a shopping center on Berryessa Road just off I-280. 100% NNN leased till 2011 to Wolf Camera. NOI $69K/yr. $1.188M. 5.6% cap.
    - Densely populated area with over 420K residents within 5 miles
    - High income area with AHI over $106K/yr.
    - Irreplaceable location
  7. Strip center in Atlanta, GA: 5401 SF retail strip on .93 acre parcel just off I-20 exit with over 120K vehicles/day in the fast growing Atlanta. 100% NNN leased to national & regional tenants. NOI $87K/yr. $980K. 8.92% cap. Great for first time investors.
  8. Kindercare center in Indianapolis, IN: 9020 SF Kindercare Childcare center on 1.2 acres of land in a stable & high income area (AHI $89K/yr). 100% NNN leased till 2012 by a national tenant. NOI $120K/yr. $1.3M. 9.25% cap.

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