Top Retail Properties 11-14-08

1. Jack In The Box in Canoga Park, CA: 2260 SF restaurant on ¼ ac lot in a densely-populated city in Los Angeles with over 430K residents within 5 miles radius. 100% NNN leased till 2015. NOI $84K/yr with CPI-based annual rent increase. $1.35M. 6.25% cap.
2. Rite Aid in New Bern, NC: 13,813 SF built in 2005 on 1.53 acres lot on a main commercial corridor in a growing coastal town. 100% NNN lease with 17 yrs remaining. NOI $398K/yr. $4.977M. 8% cap. Buyer to assume $3.946M non-recourse loan at low 5.95% interest fixed for 7 yrs. Over 10% cash on cash!
3. Shopping Center in Kissimmee, FL: brand new 20,948 SF shopping center in a fast growing Orlando suburb. Within walking distance to Osceola Regional Medical center. Only $1.8M. Less than $86/SF! Potential 15% cap!
4. Kmart in Perrysburg, OH: 91730 SF Kmart on 11.54 acres lot just off I-75 exit in a high income Toledo suburb. 100% NNN leased with 5 yrs left. NOI $366K/yr. $4.575M. 8% cap.
5. IHOP restaurant in Greensboro, NC: 4976 SF 1yr old restaurant on 1.29 acres out parcel to a Wall-mart and Lowe stores. 100% NNN leased with 18 yrs left. NOI $216K/yr. with 10% rent bump every 5 yrs.$2.7M. 8% cap.
   
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