Monday, February 23, 2009

Top 10 Properties of Feb 17, 2009

  1. Office Building in Tamarac, FL: 27,828 SF two-story office building near University Hospital and close to I-817 in growing & strong income (AHI $55K/yr) area. NOI $301K/yr. $3.5M. 8.61% Cap.
  2. Big 5 Sporting Goods in Parker, CO: 11,562 SF new retail building at the intersection of C-470 Hwy in a booming (47%) and wealthy Denver suburb. 100% NNN leased with corp guaranty. $2.4M. 7.23% Cap.
  3. Restaurant in Roseville, CA: 4,558 SF attractive former IHOP restaurant on 2.7 acres of land built in 1997 close to Hwy-80 in Sacramento metro. Way below replacement costs: Only $900K. Strong upside potential when 100% leased.
    -Only $197 per sf.
    -Fully equipped
    -Excellent for owner-user
  4. Strip Center in Covington, GA: 8,802 SF nice-looking strip center on 1.30 acres of parcel built in 1999 close to I-20. 100% NNN leased by 4 tenants. NOI $127K/yr. $1.550M. 8.20% Cap.
  5. Retail Center in Gainesville, FL: 10,000 SF strip center built in 1998 next to Oaks Mall/I-74 across North Florida Regional Medical Ctr. 100% leased. NOI $148K/yr. $1.8M. 8.28% Cap.
  6. Day Care in Addison, TX: 24,908 SF Day Care Building on 1.39 acre lot built in 1995 in affluent (AHI $126K/yr.) Dallas suburb. 100% NNN corp lease with 2% annual increases. NOI $300K/yr. $4M. 7.5% Cap.
    Possible Seller Financing
  7. Applebee’s Restaurant in Albuquerque, NM: 5387 SF restaurant on 1.43 acres of land shadow-anchored by Target near I-40. New 20-years NNN corp with rent increases. NOI $233K/yr. $2.915M. 8% Cap.
  8. McAlister’s Deli in Champaign, IL: 3344 SF restaurant on 1.3 acres of land built in 2007 at the entrance of Market Place Mall. Long NNN lease. NOI $175K/yr. $1.981M. 8.85 Cap.
  9. Medical Office in Phoenix, AZ: 28,539 SF medical office on 3.6 acres of land at busy signalized intersection. 100% leased. NOI $340K/yr. $3.4M. 10% Cap.
  10. Rite Aid Pharmacy in Charlotte, NC: 10,908 SF pharmacy on 1.82 acres of lot located at hard corner. 100% NNN leased. NOI $235K/yr. $2.693M. 8.75% Cap.


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