Friday, October 17, 2008

Commercial Properties10-16-08

  1. Scarsdale Shopping Center in Houston, TX: 8,371 SF established retail center constructed in 1986 on intersection close to Hyw-45. 90% Occupancy. NNN. NOI $77K/yr. $950K. 8.2% Cap.
    -Upside potential when fully leased
  2. Jiffy Lube in Pearland, TX: 4155 SF Jiffy Lube retail store on 1.53 acres of lot in growing/wealthy (AHI $96K/yr. within 1 mile radius) Houston suburbs. 100% absolute NNN leased. NOI 151K/yr. $2.023M. 7.5% Cap.
    -20 years absolute NNN leased by 3rd largest franchisee currently operating 112 stores.
  3. Shopping Center in Beaumont, TX: 23,524 SF trendy shopping center on 3.26 acres of land constructed in 2007 anchored by Pie Wei on major retail corridor. 100% NNN leased. NOI $436K/yr. $5.650M. 7.72% Cap.
  4. Strip Retail Center in Buford, GA: brand new 12,000 SF strip center anchored by Wal-Mart Supercenter in fast growing Atlanta metro. NOI $299K/yr. $2.990M. 10% Cap.
  5. Stapley Marketplace in Mesa, AZ: 6,773 SF 4-tenants retail center built in 2006 off of I-60 in busy commercial corridor. 100% Occupancy. NNN. NOI $171K/yr. $2.194M. 7.8% Cap.
  6. Pizza Hut Retail Building in Mansfield, TX: 2135 SF Pizza Hut building in fast growing area near I-287. 100% NNN leased till 2018. NOI $62K/yr. $890K. 7% Cap.
    -Lease guaranteed by YUM! Brands Inc

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