Top 10 retail properties of 12-02-08

1. Shopping center in Bakersfield, CA: 32,874 SF shopping center built in 2004 on almost 3 acres of land. Anchored by a grocery store. 80% NNN leased with 5 small vacant units. Proforma NOI $400K/yr. $5M. 8% Cap. Property appraised over $6M in 2006 and being foreclosed. Strong upside potential! SELLER & Lender WILL ACCEPT $3M OFFER. THIS WON’T LAST!
2. Buckner Commons center in Dallas, TX: 10,429 SF 3 yrs old strip center on .86 acre lot shadow anchored by Wal-Mart/Sam’s Club. Next to I-30 with great tenants mix. 100% NNN leased. NOI $221K/yr. $2.690M. 8.22% Cap.
3. Denny’s Restaurant in Sparks, NV: 9,922 SF Denny’s Restaurant on 1.28 acres outparcel to Kohl’s and Wal-Mart in fast growing Reno metro. 20 yrs absolute NNN ground lease, i.e. you own the land and tenant owns the improvements. NOI $111K/yr. with 10% rent increases every 5-yrs. $1.590M. 7% Cap.
4. Shopping center in Escondido, CA: 22,140 SF shopping center anchored by Albertsons in San Diego suburb. 95% occupied. NOI $549K/yr. $6.875M. 8% Cap.
5. Medical Office in Keller, TX: brand new 5945 SF medical office across Walgreens Pharmacy just of Hwy-170 in growing/middle-class (AHI $65K/yr.) Dallas suburb. 100% NNN leased. NOI $121K/yr. with rent bumps $1.5M. 8.08% Cap.
6. Mix-used retail center in Santee, CA: 20,518 SF mature office/retail center on 1.2 acres of land built in 1982 located in major commercial artery in San Diego metro. NNN leases. NOI $280K/yr. $4M. 7% Cap.
7. Office Building in Irvine, CA: 20,208 SF two-story office building constructed in 1979 on .90 acre parcel near I-405 & Fwy-55. Close to John Wayne Airport. 100% Occupancy. NOI $308K/yr. $4.258M. 7.24% Cap.
8. Retail center in Humble, TX: 5924 SF retail center built in 2004 in fast growing area. 100% NNN leased. NOI $153K/yr. $1.722M. 8.9% Cap.
9. Jack in the Box restaurant in Canoga Park, CA: 2260 SF restaurant on .26 acre lot in a densely populated city in Los Angeles. 100% absolute NNN corp leased. NOI $84K/yr. $1.350M. 6.25% Cap.
10. Retail center in North Las Vegas, NV: 5500 SF well-maintained strip center constructed in 2001. 100% Occupancy. NOI $107K/yr. $1.345M. 8% proforma Cap.
    
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