Best Commercial Properties 11-05-08

1. Medical center in Murrieta, CA: 18,480 SF brand new class-A medical office building on 1.64 acres parcel near Rancho Springs medical center. 100% leased. Fast growing & high income Riverside county. NOI $442K/yr. $5.95M. 7.44% cap.
2. Strip center in Rancho Mirage, CA: 5990 SF brand new upscale strip center in a booming area (47% growth since 2000) and affluent (AHI $113K/yr) city in Riverside county. Shadow anchored by Walgreens. 80% NNN leased with just 1 small vacant unit. Proforma NOI $183K/yr. $2.3M. 8% cap.
3. Shopping center in League city, TX: 28,140 SF upscale shopping center built in 2001 on 3.28 acres of land in a fast growing and affluent (AHI $110K/yr with 1 mile) Houston suburb. 96% NNN leased. NOI $526K/yr. $6.6M. 8% cap. Buyer to assume $3.7M loan at low 5.53% interest till 2014.
4. Shopping center in Las Vega, NV: 30,906 SF 3-building 17-unit retail center on 3.17 acres of land with all unit facing the main road. 88% NNN leased. NOI $504K/yr. $6.5M. 7.75% cap.
5. Office building in Rio Rancho, NM: 31,275 SF 3-story 10-yrs old class-a office building on 1.6 acres parcel in a fast growing and high income part of Albuquerque. 100% NNN leased. NOI $489K/yr. $6.495M. 7.75% cap.
6. Foreclosed Shopping Center in Bakersfield, CA: 32,874 SF shopping center built in 2006 on almost 3 acres of land. Anchored by a supermarket. 92% leased with just 2 small vacant units. Proforma NOI $400K/yr. $5M. 8% cap. Property being foreclosed. Strong upside potential!
   
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