Friday, October 3, 2008

Best Retail Properties 10-02-08

  1. Shopping center in Sacramento, CA: 12,060 SF 2-yr old strip center. 94% NNN leased. NOI $393K/yr. $5.235M. 7.5% cap.
    Shadow anchored by Longs Drug and Safeway.
    Fast growing (31% since 2000) & high income Elk Grove (AHI $81K/yr).
    Located on a major North South artery
  2. Shopping center in Douglasville, GA: 11,200 SF strip mall built in 2000 on 1.4 acres parcel in a fast growing & strong income city East of Atlanta. 89% NNN leased. NOI $134K/yr. $1.5M. 8.9% cap.
  3. O’reilly Auto Parts in Rockford, IL: 22,000 SF O’Reilly (NASDAQ: ORLY) auto part store in a stable city. 100% NNN leased till 2015. NOI $91K/yr. $1M. 9.13% cap.
    No landlord responsibilities.
    Public company with over 1830 stores in 26 states means secure investment.
  4. Rite Aid in Billerica, MA: 13,683 SF pharmacy built in 2002 on 2 acres lot in a high income (AHI $93K/yr) Boston suburb. 100% NNN leased. NOI $247K/yr. $3.305M. 7.5% cap.
    Shopping center in Santee, CA: 20,518 SF 2-story retail/office building in the suburb of San Diego. 88% leased. NOI $279K/yr. $4M. 7% cap. Only $194/SF in San Diego!
  5. Dental office in Fort Worth, TX: 5625 SF single-tenant dental clinic built in 2006 on ½ acre. 100% NNN leased till 2016 by Jefferson Dental with 21 locations in Dallas metro. NOI $123K/yr. with 9% rent increase in 2011. $1.66M. 7.45% cap.
  6. Strip mall in San Juan, TX: 8736 SF attractive retail strip in a fast growing McAllen area. 100% NNN leased. NOI $86K/yr. $959K. 9% cap. Great for 1st time investor.
    Retail strip in Fayetteville, GA: 14,077 SF retail strip built in 1987 on over 1 acre parcel in a high income Atlanta suburb. 100% NNN leased by good corp/credit tenants. NOI $229K/yr. $2.95M. 7.79% cap.

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