Tuesday, December 23, 2008

Best Retail Properties 12-17-2008

  1. Strip Center in Santa Ana, CA: 10,175 SF strip center on .45 acre lot recently renovated. Located in a densely populated area just blocks from CVS/Food 4-Less and more. 100% NNN leased. NOI $190K/yr. $2.7M. High 7.04% Cap for CA!
  2. Shopping Center in Rockford, IL: 31,601 SF mature shopping center on 3.3 acres of land in growing/middle class (AHI $64K/yr) area just off I-20. 85% leased. NOI $106K/yr. $1.150M. 9.25% Cap. Only $36.39 per SF.
  3. Shopping Center in West Covina, CA: brand new 10,900 SF stunning shopping center on 1.53 acres of parcel near Hwy-605. Shadow anchored by Home Depot &Target. 100%NNN leased with national/regional credit tenants. NOI $466K/yr. $6.434M. 7.25% Cap. Tenants Include: Jamba Juice, Panda Express Verizon Wireless, Round Table Pizza and Quizno’s.
    -Pride of ownership!
  4. Church’s Chicken Restaurant in Pasadena, TX: 1,176 SF mature Church’s Chicken Restaurant on hard corner close to Pasadena Town Center across Southmore Medical Center in Houston suburb. Long absolute NNN leased with 1.5% annual increases by an experienced 15 unit operator. NOI $74K/yr. $824K. 9% Cap.
    -Strong Store Sales
    -Big monument signage
  5. Office Building in San Diego, CA: 44,645 SF well-maintained office building constructed in 1987 in well-off (AHI $38K/yr) neighborhood. 100% leased. NOI $9.497M. 8% cap.
  6. Microtel Inn Motel in Denver, CO: 100-room attractive motel on 2.24 acres built in 1997 in booming (1,528.05%) & middle-class (AHI $50K/yr) city. $4.2M.
  7. Retail Center in Las Vegas, NV: 23,649 SF retail center on 2.52 acres of land built in 2002 located next door to Orleans Hotel & Casino. 100% Occupancy. NOI $691K/yr. $9M. 7.60% Cap. Buyer to assume $7M loan at 5.08% interest.
  8. Strip Center in Canoga Park, CA: 2400 SF 2-tenant strip center with excellent visibility to major thoroughfare in LA suburb. 100% NNN leased by Papa John Pizza & Advance California Check Cashing. Corp leases. NOI $41K/yr. Only $700K. 5.94% Cap.

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