Best Retail Properties 10-28-08

1. Shopping Plaza in Las Vegas, NV: 25,747 SF inline retail center built in 2000 in a fast growing city. 90% NNN leased. NOI $580K/yr. $7.7M. 7.54% cap.
   · Shadow anchored by Albertsons.
   · Strong 3%-7% annual rent increases.
2. Burger King in chandler, AZ: 2678 SF restaurant on .66 acre out parcel to a shopping center anchored by Food City supermarkets in the Phoenix metro. 100% absolute NNN leased till 2021 by an experienced operator with 9 locations. NOI $87K/yr with 10% rent bump every 5 yrs. $1.302M. 6.75% cap.
3. Advance Auto Parts in Houston, TX: 7000 SF Auto Parts built in 2006 in a growing Houston. 15 yrs corporate NNN lease. NOI $126K/yr with 20% rent increase after 10 yrs. $1.625M. 7.75% cap.
4. Rite Aid in Greenville, SC: 13,813 SF 4-yr old Rite Aid pharmacy on 2 acres parcel just off I-385. 100% absolute NNN lease with 16 yrs remaining. NOI $326K/yr. $4.084M. 8% cap.
   · Located in a fast growing (23%) high income (AHI $89K/yr) city.
   · Recession-insensitive business.
5. Shopping Center in Houston, TX: 63,993 SF shopping center on 6.7 acres of land with Hwy 6 frontage. 72% leased. Actual NOI $367K/yr. $4.3M. 8.55% actual cap.
   · Strong upside potential when 100% leased.
   · Only $67/SF!
6. Rite Aid in Cary, NC: 11,562 SF Rite Aid built in 2000 on 2.36 acres busy corner in a fast growing middle class Raleigh-Durham suburb. 25 yrs NNN lease with 17 yrs left. NOI $385K/yr. $4.978M. 7.75% cap.
7. Taco Bell in Dayton, OH: 1739 SF Taco Bell restaurant on .44 acres lot across the street from Miami Valley Hospital and close to University of Dayton. 100% absolute NNN lease with 7 yrs left by a franchisee with multiple locations. NOI $89K/yr. $1.141M. 7.8% cap.
8. Walgreens in San Antonio, TX: 13,905 SF Walgreens pharmacy in a fast growing and high income (AHI $83K/yr) Northern part of town. 100% NNN leased till 2058. NOI $259K/yr. $3.55M. 7.2% cap.

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