Best Commercial Propeties 11-04-08

1. Jim & Nick BBQ restaurant and bar in Birmingham, AL: 7556 SF franchised restaurant and bar on 1.86 acres parcel. 20 yrs absolute NNN corp lease. $NOI $140K/yr with 10% rent increase every 5 yrs. $1.647M. 8.25% cap. Store with strong $3.9M sales in 2007.
2. Shopping center in Plano, TX: 27,011 SF 8-yrs old inline shopping center shadow anchored by Albertsons Grocery. Located in an affluent (AHI $91K/yr) and fast growing Northern Dallas suburban (33% since 2000). 62% leased. Actual NOI $258K/yr. $3.75M. 6.89% cap. Only $138/SF. Strong upside potential.
3. Office Building in Walnut Creek, CA: 85,000 SF office building on 6 acres lot in a wealthy city with AHI of $120K/yr within 1 mile. 100% NNN leased by Fresenius Healthcare, an international company till 2012. NOI $1.7M. $13.6M. 12.57% cap.
4. Taco Bell in Phoenix, AZ: 2490 SF Taco Bell restaurant built in 2006 on a pad site in front of Costco just off Loop 101. 20 yrs absolute NNN lease with 18 yrs left by an operator with 70 Taco Bells. NOI $126K/yr with 10% rent bump every 5 yrs. $1.95M. 6.5% cap.
5. Midas in Fort Meyer, FL: 4970 SF Midas store on ¼ acre lot on a heavy trafficked US 41 and across the street from Edison Mall. 100% corp leased till 2018. NOI $74K/yr with 4% rent bump every 2 yrs. $899K. 8.25% cap.
6. Retail Square in High Point, NC: 9750 SF strip center built in 2000 on over 1 acres of land near High Point Mall in the Greensboro suburb. 100% NNN leased by 7 tenants. NOI $135K/yr. $1.54M. 8.8% cap.
7. Retail Plaza in West Haven, NY: 23,500 SF retail plaza on 1.5 acres parcel with all units facing the main road in the New Haven metro. 100% leased. NOI $239K/yr. $3.4M. 7% cap.
8. Retail Office building in Cupertino, CA: rare 10,643 SF 5-yrs old building on Stevens Creek Blvd. NOI $272K/yr. $3.999M. 6.83% cap.
   
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