Best 10 Commercial Properties Feb 12, 2009

1. Office Max in McAllen, TX: brand new 18,000 SF Office Max on 2.46 acres of land as part of 46 acres lifestyle center anchored by Kohl's, Best Buy, Target, Ross, Marshalls, Hobby Lobby, Bealls and PetSmart. Fast growing (40% growth since 2000) and high income (AHI $87K/yr) metro near Mexico border benefited from Nafta trade agreement. 10 yrs NNN lease with corp guaranty. NOI $288K/yr. $3.84M. 7.5% cap.
2. El Patio restaurant in Fremont, CA: 8525 SF restaurant in a high income area (AHI $100K/yr). 100% NNN leased till 2018 by a successful business that has been around for 25 yrs. NOI $225K/yr. $3M. 7.5% cap.
3. Checker Auto Parts in Colorado Springs, CO: 7000 SF 2-yr old single-tenant retail building in a booming (101% since 2000) and high income (AHI $93K/yr) Briargate master-planned community. 15 yrs NNN lease with strong corp guaranty by the parent company that also owns Kragen & O’reilly Auto Parts. NOI $133K/yr. with 10% rent bump every 5 yrs. $1.797M. 7.4% cap.
4. Shopping center in McAllen, TX: 30,250 SF shopping center built in 2006 as part of a 46-acre lifestyle center anchored by Kohl's, Best Buy, Target, Ross, Marshalls, Hobby Lobby, Bealls and PetSmart. 100% NNN leased by 3 brand name tenants: Old Navy, Shoe Carnival, and Dots Fashion. NOI $464K/yr. $5.807M. 8% cap.
5. Strip center in Riverside, CA: 6000 SF strip mall built in 2001 on an outparcel to a shopping center anchored by Albertsons and Petco in fast growing (67%) and high income (AHI $92K/yr) city. 100% NNN leased by 3 tenants. NOI $164K/yr. $2.25M. 7.32% cap.
6. Retail center in Port Charlotte, FL: 3842 SF retail center on an outparcel to a Publix supermarket anchored shopping center. 100% NNN leased by Dunkin Donut-Baskin Robin Ice Cream and Subway. NOI $154K/yr. $1.721M. 9% cap.
7. Shopping Center in Lawrenceville, GA: 7800 SF multi-tenant retail center built in 2004 on 1ac lot in a booming (127% since 2000) and strong income Atlanta suburb. 100% NNN leased by 5 tenants. NOI $102K/yr. Only $1M. 10.26% cap!
8. Jack In The Box in San Jacinto, CA: 2654 SF restaurant on .68 ac corner outparcel to a shopping center anchored by Walgreens and Fresh & Easy Grocery in a high-growth (45% since 2000) Inland Empire city. 100% NNN leased till 2027 with corp guaranty. NOI $75K/yr with 10% rent increase every 5 yrs. $1.2M. 6.25% cap.
9. Goodyear Tire in Corona, CA: 7935 SF Goodyear Tire store on .68 acre lot just off Riverside Freeway exit in a fast growing and high income area. 100% absolute NNN lease with corp guaranty. NOI $84K/yr. $1.211M. 7% cap.
10. Macaroni Grill restaurant in Timonium, MD: 7400 SF Italian restaurant built in 1997 on 2.45 acres parcel. Great location: just off I-87 exit and before all the shops in an affluent (AHI $113K/yr) Baltimore suburb. 20 yrs absolute NNN lease with guaranty from a corp with 230 restaurants. NOI $234K/yr. with 2% annual rent increase. $2.932M. 8% cap.
    
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