Top 5 commercial properties 01-08-09

1. Buffalo Wild Wing Grill & Bar in Missouri city, TX: 5285 SF franchised restaurant with over 430 locations in 37 states. Located on an outparcel to Wal-mart supercenter and surrounded by over 700,000 SF of retail spaces in a affluent (AHI $106K/yr) Houston suburb. 15 yrs NNN lease. NOI $211K/yr. with 10% rent increase every 5 yrs. $2.64M. 8% cap.
2. Single-tenant Office Building in San Antonio, TX: 79,198 SF 2-story class-A office building constructed in 2005 on 8.9 acres lot in the fastest growing (58% since 2000) part of the city. 100% NNN leased by Coventry Health Care (NYSE: CVH), a company with almost $10B in revenue, till 2018. NOI $905K/yr. Buyer to assume $7M loan at low 5.13% interest. $11.75M. 7.75% cap.
3. Shopping Plaza in Oroville, CA: 164,905 SF shopping plaza built in 2001 on over 15 acres of land in Northern CA. Anchored by Long’s Drug (being acquired by CVS), FoodMaxx Supermarket and Big 5 Sporting Goods. 97% NNN leased. NOI 1.023M. $13.65M. 7.5% cap. Less than 83/SF! Seller financing available.
4. AutoZone in Kansas City, MO: 7370 SF brand new AutoZone on over 1 acres lot across the street from a 190,000 SF retail center. 20 yrs NNN lease. NOI $119K/yr with 10% rent bump every 5 yrs. $1.665M. 7.15% cap. Recession insensitive tenant.
5. Rite Aid in Clemmons, NC: 14,547 SF pharmacy on 1.68 acres parcel just off Fwy 421 in a fast growing & high income (AHI $81K/yr) Winston-Salem metro. Store with strong sales. 20 yrs NNN lease with 10% rent increase every 10 yrs. NOI $213K/yr. $2.839M. 7.5% cap.
   
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