Best picks of 09-30-08

AHI: Avg Household Income

1. Retail Plaza in Anaheim, CA: 36,453 SF well-maintained retail plaza on 2.6 acres of land in a growing, densely-populated and high income (AHI $97K/yr) Orange county town. 100% NNN leased. NOI $600K/yr. $9.16M 6.54% cap.
   - Completely remodeled in 2004
   - 24 tenants to spread out the risks
   - Only $250/SF in Orange county!
   - Excellent visibility
2. CVS Pharmacy in Richardson, TX: 10,560 SF free-standing pharmacy in a strong income area in Dallas suburb. 100% NNN leased till 2016. NOI $$210K/yr. $2.9M. 7.25% cap.
   - Store with strong revenue, top 2% in the chain.
3. Shopping Centers in Roseville, CA: 31,168 SF inline shopping centers built in 1995 in Sacramento suburb. 100% NNN leased by 17 tenants. NOI $830K/yr. $11.5M. 7.7% cap!
   - Shadow anchored by Save Mart Supermarkets and Longs Drug
   - High growth (32% since 2000) and high income (AHI $80K/yr) metro.
4. Neighborhood center in Tampa, FL: 130,278 SF center on over 18 acres lot. 91% leased. NOI $738K/yr. $9M. 8.2% cap.
   - Anchored by Supermarkets, and Dollar store
5. Office building in Boca Raton, FL: 11,734 SF 2-story office building in a wealthy coastal town with AHI $144K/yr. 100% leased. NOI $188K/yr. $2.5M. 7.54% cap.
6. Shopping center in Houston, TX: 90,647 SF shopping center on over 7 acres corner parcel. 98% leased by 13 tenants. NOI $772K/yr. $7.25M. 10.66% cap!
7. Burger King in Hot spring, AR: brand new 3000 SF Burger King on 1.25 acres parcel in a stable small town. New 20 yrs absolute NNN lease by a tenant with 6 locations. NOI $93K/yr with 12% rent bump every 5 yrs. $1.168M. 8% cap.
8. Office Building in Augusta, GA: 32,448 SF office building on 2.6 acres lot. 100% leased by national and local tenants. NOI $220K/yr. Priced to sell at $2.2M. 10% cap!

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