Best Retail Properties 11-13-08

1. IHOP in Lexington, SC: 4972 SF 1-yr old IHOP restaurant on 2.24 acres parcel in a busy trade area across the street from Wal-mart, Home Depot & Food Lion supermarkets in a fast growing (40% since 2000) and high income (AHI $84K/yr) metro. 20 yrs NNN lease. NOI $212K/yr. $2.745M. 7.75% cap.
2. Fresh & Easy Grocery in Las Vegas, NV: 14,080 SF Fresh & Easy neighborhood market on 1.59 acres parcel. 20 yrs NNN ground lease (you own the land the tenant owns the improvements.) NOI $220K/yr. $2.933M. 7.5% cap.
3. Retail Center in Kennesaw, GA: 14,150 SF retail center built in 2003 on 1.59 acres parcel at a signalized corner in a fast growing and high income Atlanta suburban. 100% NNN leased by 13 tenants. NOI $288K/yr. $3.2M. 9% cap.
4. Shopping Center in Sacramento, CA: 31,920 SF shopping center on over 2 acres lot near Florin road and Hwy 99. Retn below market. NOI $243K/yr. $4.3M. Only $134/SF. Upside potential.
5. Jack In the Box in Plano, TX: 2397 SF 10-yrs old restaurant on 1.25 acres lot in a affluent Dallas suburb with AHI over $103K/yr. 100% corp lease with 8 yrs left. NOI $130K/yr. $1.734M. 7.5% cap.
6. Medical Plaza in Scottsdale, AZ: 20,440 SF 3-story medical plaza on 1.13 acres parcel in a growing and high income part of Phoenix metro. 100% occupied 5 medical tenants. NOI $250K/yr. $3.45M. 7.25% cap.
7. Medical office building in Sequim, WA: 5580 SF 3-unit medical office building in the suburb of Seattle. NOI $65K/yr. $845K. 7.63% cap.
   
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