Top 8 Commercial Properties 1-26-09

1. Famous Sam’s Sports Grill restaurant in apache Junction, AZ: 8321 SF chained restaurant built in 2002 on 1.47 acres lot in Phoenix metro. 10 yrs absolute NNN lease to be signed at closing. NOI $138K/yr. $1.9M. 7.26% cap.
2. Retail Showroom in Sunnyvale, CA: 3626 SF retail showroom 1/3 ac lot on El Camino Real. Zoned C2. Ideally for owner/user. $1.699M.
3. Office building in Campbell, CA: 11489 SF 2-story office building with underground parking on the busy Bascom avenue. $2.296M.
4. Rite Aid in Sacramento, CA: 45,575 SF pharmacy on 3.72 acres corner lot on Florin road near hwy 99. 100% NNN leased by Rite Aid. NOI $120K/yr. $1.8M. 6.69% cap. Note: land value is probably worth more than the listing price!
5. Rite Aid Sandy, UT: 13,839 SF pharmacy with drive thru built in 1999 on 1.81 acres corner lot in a the fast growing ((20% since 2000) and affluent (AHI over $96K/yr) Salt Lake City metro. NOI $281K/yr. $3.887M. 7.25% cap.
6. Strip Center in Tempe, AZ: 9671 SF strip mall on .91 acre signalized intersection in Phoenix metro. NOI $98K/yr. $975K. 10.12% cap.
7. Franchised Hotel in Orlando, FL: 160 room franchised hotel near tourist area with over $3M renovation in 2007/2007 and $500K upgrade in 2008. Appraised at $11M. NOI $700K. $7M. 10% cap.
8. CVS pharmacy in Alcoa, TN: 13,225 SF brand new pharmacy on 1.75 acres parcel in Memphis suburb. 25 yrs NNN lease. NOI $278K/yr. $3.628M. 7.66% cap.
   
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