Top Retail Properties 12-10-08

1. Burger King in Simi Valley, CA: 3034 SF restaurant on 1 ac lot in a prime commercial corridor in a high income city. 100% NNN leased. NOI $100K/yr. $1.71M. 5.85% cap.
2. Orchard Supply Hardware in Antioch, CA: 52,161 SF single-tenant retail big box built in 1987 on 3.22 acres parcel near hwy 4. 25 yrs NN leased with 5 yrs remaining. NOI $556K/yr. $7.3M. 7.62% cap.
3. Pep Boys Auto in Austin, TX: 22,279 SF sing-tenant property on 2 acres lot. New 15 yrs NNN lease. NOI $224K/yr with 1.5% annual rent bump. $3.201M. 7% cap.
4. Big O Tires in Phoenix, AZ: 5515 SF store on 1 acre parcel in a fast growing city (32% since 2000). 100% NNN leased till 2019 with corp guaranty. NOI $155K/yr with 10% rent bump every 5 yrs. $1.933M. 8% cap.
5. Tires Plus in Orlando, FL: 6686 SF car care store on 2/3 ac lot in front of a neighborhood shopping center. 100% NNN leased. NOI $108K/yr. $1.27M. 8.5% cap.
6. Shopping center in Fresno, CA: 16,251 SF multi-tenant retail center built in 1993 on 1.25 acre lot at an intersection of 2 major roads. 100% NNN leased. NOI $263K/yr. $3.1M. 8.5% cap in CA!
7. Pep Boys in Las Vegas, NV: 18,196 SF single-tenant retail store on 1.88 ac parcel in a fast growing and high income part (AHI $85K/yr) of the city. New 15 yrs NNN lease. NOI $327K/yr. with 1.5% annual rent increase. $4.78M. 6.85% cap.
8. Famous Dave’s restaurant in El Paso, TX: 6318 SF 5-yr-old restaurant on 1.38 acre lot in a prime commercial area. 20 NNN lease with 17 yrs remaining. NOI $192K/yr. $2.4M. 8% cap.
9. AppleBee’s restaurant in Surprise, AZ: 5103 SF restaurant built in 2000 on a outparcel to a shopping center in booming (90% growth) Phoenix suburb. 15 yrs absolute NNN lease. NOI $238K/yr with 10% rent increase every 5 yrs. $3.185M. 7.5% cap.
10. Retail Plaza in Anaheim, CA: 8050 SF strip center on ¾ acres lot in a densely populated city. Across the street from Target Superstore. 100% leased by 6 tenants with below market rent. NOI $95K/yr. Price reduced to $1.7M. Just over $211/SF! Upside potential.

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