Best retail/commercial properties of 09-26-08

1. Office building in Fresno, CA: 8664 SF 3-unit office building on 1.16 acres parcel near the airport. 100% leased. NOI $90K/yr. $995K. 9.11% cap.
2. Tire Store in Naples, FL: 5021 SF single tenant retail property built in 2003 just off I-75 exit in very affluent city (AHI $126K/yr within 1 mile radius). 100% NNN leased by a regional tire store chain. NOI $140K/yr. $2M. 7% cap.
3. Office building in Desoto, TX: 19,111 SF office building on 1.46 acres parcel in a growing Dallas suburb. 96% leased. NOI $161K/yr. $1.7M. 9.48% cap.
4. Office building in San Bernardino, CA: 49,513 SF 2-story office building near I-10 and I-215. 100% NNN leased by Arrowhead Credit Union. NOI $555K/yr. $7.5M. 7.4% cap.
5. Single –tenant retail in Dallas, TX: 2000 SF retail center on 1/3 acre corner lot near Dallas Love Field Airport. 10 yrs NNN lease by PLS Check Cashers. NOI $143K/yr with 10% rent increase every 5 yrs. $1.64M. 8.75% cap.
6. Urgent Care center in Raleigh, NC: 5212 SF NextCare Urgent Care center on ¾ acre parcel in a prime commercial area in a growing city. 100% NNN leased by an operator with 7 centers with this location being most profitable. NOI $141K/yr. $1.7M. 8.3% cap.
   - Urgent care could benefit from the current economic downturn
   - Tenant has been at this location for 20 yrs
   - Over $500K renovation in 2000
7. Metro Market Place in Phoenix, AZ: 249,494 SF power center on over 19 acres of land near Metro Center adjacent to I-17. Anchored by Office Max and Toys R Us. 56% leased. Proforma NOI $1.236M. $15M.
   - Only $60/SF: below replacement cost
   - Strong upside potential when 100% leased.
8. CVS Pharmacy in Conway, SC: 10,125 SF CVS Pharmacy built in 1998. 20 yrs NNN lease with 10 yrs left. NOI $198K/yr. $2.64M. 7.8% cap.
   - Lease with Corp guaranty means low risk investment
   - Store with strong sales means you most likely you will receive the rent checks.
   
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