Thursday, December 4, 2008

Best Commercial Properties 11-26-08

  1. Jack In the Box in Marysville, WA: 3030 SF restaurant on ¾ ac lot just off I-5 exit in a growing Seattle suburb. 100% absolute NNN corporate lease with 14 years remaining. NOI $97K/yr with 8% rent increase every 5 yrs. $1.446M. 6.75% cap.
  2. Shopping Center in Huntington Park, CA: 19,960 SF 9-unit shopping center on 1 ¼ acres lot in a densely-populated city in Los Angeles with over 1.1M residents within 5 miles radius. 93% leased with just 1 small vacant unit. Actual NOI $343K/yr. $4.8M. 7.17% actual cap. Only $240/SF!
  3. Santa Fe Cattle Restaurant in Bixby, OK: 5941 SF brand new regional restaurant on 1.65 ac parcel in an affluent (AHI $102K/yr) and fast growing (24% since 2000) Tulsa suburb. Part of a large retail complex anchored by Wal-mart, Lowes and Target. New 20 yrs absolute NNN lease with guaranty by Santa Fe Holding Company (OTC symbol: SFHD). NOI $273K/yr. $3.214M. 8.58% cap.
  4. Medical office building in Keller, TX: 10,995 SF brand new upscale medical office building on 1.3 acres of land in a booming (135% growth since 2000!) and strong income Dallas metro. 100% NNN leased by 2 good tenants: Cook’s Children Hospital with multiple locations and Teach-Mart. NOI $216K/yr. $2.8M. 7.75% cap.
  5. Shopping center in Edmond, OK: 42,815 SF 16-unit shopping center on a corner lot in a fast growing and high income suburban of Oklahoma City. NOI $360K/yr. $4.5M. 8% cap. Only $105/SF.
  6. Dollar Tree Store in Brownsville, TX: 10,000 SF Dollar Tree store in a fast growing border town. Near Wal-mart. 100% NNN leased. Recession-insensitive tenant. NOI $100K/yr. $1.3M. 7.7% cap.
  7. Medical Building in Sunnyvale, CA: 4000 SF freestanding medical building on .42 ac lot near Hwy 101 and Lawrence Expressway in the middle of Silicon Valley. 50% leased to a dentist. $1.1M.

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