Best Commercial Properties of 01-21-09

1. Shopping center in Decatur, GA: 18,210 SF shopping center built in 2006 on 3 acres parcel with excellent visibility in a fast growing & strong income Atlanta metro. Surrounded by Kroger Supermarket, Publix Supermarket, Walgreen’. 100% NNN leased by brand name tenants: Anytime Fitness, Little Caesars, Subway sandwiches, Smoothie King & Jackson Hewitt. NOI $350K/yr. $4.375M. 8% cap.
2. Retail Condos in Loma Linda, CA: 5046 SF brand new multi-tenant retail condos in a fast growing city. 100% NNN leased by 3 good tenants: Quest Diagnostics, Firemen’s Credit Union, and Yogurtlicious. NOI $131K/yr. $1.694M. 7.75% cap!
3. Retail Center in San Jose, CA: 12,711 SF strip center near I-680 and Capitol Expressway. 100% NNN leased by 8 tenants plus Cell tower. NOI $481K/yr. $5.85M. 8.25% cap.
4. Shopping Center in Palm Coast, FL: 96,891 SF shopping center built in 2007 just off I-95 exit in a fast growing (80% since 2000) coastal town south of Jacksonville. Anchored by Belk Department Store and shadow anchored by Lowe’s and Wal-mart Supercenter. 100% NNN leased. NOI $773K/yr. $10.3M. 7.51% cap.
5. Shopping Center in Suwanee, GA: 19,925 SF upscale shopping center on 2.47 acres lot in a booming (75% growth) and affluent (AHI over $108K/yr)Atlanta suburb. 100% NNN leased. NOI $454K/yr. $6.05M. 7.51% cap.
6. Shopping center in Decatur, GA: 67,940 SF established shopping center at the intersection of 2 major arteries in a high income Atlanta suburb. 96% leased. NOI $392K/yr. $4.3M. 9.53% cap. Only $63/SF!
7. Medical/Professional Office building In Northridge, CA: 34,275 SF 3-story office building on 1.69 acres corner lot in a wealthy (AHI $97K/yr) and densely-populated city in Los Angeles. 100% leased. NOI $747K/yr. $10.65M. 7.02% cap.
8. Rite Aid in Marshfield, MA: 13,876 SF pharmacy on 3 acres lot in a very affluent (AHI over $107K/yr) Boston metro. New 20 yrs NNN lease. NOI $247K/yr. with 10% rent bump every 10 yrs. $3.15M. 7.85% cap.
9. Damon’s Grille in Westerville, OH: 7055 SF restaurant on 1.64 acres parcel in a prime commercial corridor in a fast growing (48%) and affluent (AHI $108K/yr) Columbus metro. 20 yrs absolute NNN lease with corp guaranty. NOI $239K/yr. $2.594M. 9.25% cap.
10. Starbucks Strip mall in Louisville, KY: 3659 SF strip center built in 2007 on .82 acre outparcel to Kroger supermarket anchored shopping center just off I-64. Affluent (AHI $94K/yr) area. 100% NNN leased by Starbucks and Jimmy John’s Gourmet Sandwiches. NOI $181K/yr. $2.25M. 8% cap.

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