Top 8 retail properties of 10-24-08

1. Retail center in Pasadena, TX: 15,109 SF retail strip on 1.44 acres lot in Houston metro. Renovated in 2000. 90% NNN leased. NOI $191K/yr. $2.099M. 9.1% cap.
2. Burger King in Chandler, AZ: 3144 SF Burger King restaurant on .4 acres outparcel to a shopping center in a densely-populated Phoenix metro. 100% long-term NNN leased by an experienced operator. NOI $82K/yr. $1.167M. 7.07% cap.
3. Childcare Center in Huntington Beach, CA: 5114 SF Childcare center on ¾ acres parcel in a wealthy coastal city in Southern CA with AHI over $100K/yr. 100% NNN leased till 2021 by Childtime (public company with S&P B rating). NOI $100K/yr. with 10% rent bump every 5 yrs. $1.384M. 7.25% cap. Great investment in CA.
4. Shopping center in Yakima, WA: 23,640 SF 9-unit retail center on 1.94 acres lot. 80% NNN leased. Actual NOI $211K/yr. $2.49M. 8.5% cap on actual income.
   · Upside potential when 100% leased.
   · Seller will provide rent 18 months rent guaranty on 3 vacant units
5. Retail Plaza in Loomis, CA: 14,052 SF retail center built in 1990 on 1 acre lot in a Sacramento suburb. 100% NNN leased by 5 tenants with low average rent of just $1.08/SF. NOI $139K/yr. $1.99M. 7.23% cap.
   · Fast growing (52% since 2000) and affluent (AHI over $99K/yr) area.
   · Easy access to I-80
   · Strong upside potential
   · Great investment
6. Pizza Hut in Huntington Beach, CA: 1890 SF Pizza Hut restaurant on 1/3 acres on a major artery in a wealthy coastal town in Orange county. 100% long term NNN leased by an operator with 123 locations. NOI $100K/yr. $1.547M 6.5% cap. Irreplaceable location!
7. Smokey Bones restaurant in Greensboro, NC: 6918 SF Smokey Bones restaurant on 2 acres lot. New 20 yrs absolute NNN lease with guaranty from a corp with 74 locations. NOI $137K/yr. Only $1.66M. 8.25% cap.
   · Great location: near Four Season Town Center mall.
   · Strong sales with rent to revenue of 4.89%! (never seen anything this low!)
8. Smokey Bones restaurant in Charlotte, NC: 7500 SF restaurant on 1 acre lot in a fast growing (33% since 2000) city. 20 yrs absolute NNN lease. NOI $144K/yr. $1.755M. 8.25% cap.
   · Great location: directly across Carolinas Medical Center, and University of NC.
   · Location with strong sales (rent to revenue ratio of 6.75%)