Best Retail Properties Among 380+ 02/26/09

1. Burger King in McDonough, GA: 3500 SF restaurant in with outdoors playground on 1.25 acres pad site to Walmart supercenter and Lowe’s just off I-75 exit in Atlanta suburb. 20 yrs NNN absolute lease by an experienced operator with 11 locations. NOI $110K/yr with 6% rent bump every 3 yrs. 7.5% cap.
2. Citibank Building in Santa Clara, CA: rare 6100 SF bank on .56 acre parcel near San Tomas Expressway. New 10 yrs NN lease by Citibank (S&P rating A+). NOI $166K/yr. with CPI-based annual rent bump. $2.67M. 6.25% cap.
3. Jack In The Box in Fresno, TX: 2036 SF franchised restaurant built in 2002 on 1 acre lot on a busy artery in a fast growing and high income Houston suburb. 100% absolute NNN corporate ground lease (investor owns the land) with 12 years remaining. NOI $115K/yr with 8% rent increase every 5 yrs. $1.495M. 7.7% cap.
4. Shopping Center in Lovejoy, GA: 46,700 SF shopping center on 6.82 acres outparcel to a Walmart Supercenter in Atlanta metro. 97% NNN leased by many brand name tenants. NOI $671K/yr. $8.15M. 8.24% cap. Buyer to assume existing $5.7M loan at low 5.27% interest. 11% total yield!
5. Long Horn Steakhouse in Olathe, KS: 5800 SF chained steakhouse built in 2007 as part of a 85-acre entertainment lifestyle center in an upper middle-class Kansas suburb. 15 yrs absolute NNN ground lease (investor owns the land) by #1 casual dining operator in North America, Darden Restaurants (NYSE: DRI). NOI $120K/yr with 10% rent bump every 5 yrs. $1.55M. 7.7% cap.
6. Arby’s in Kissimmee, FL: 3365 SF restaurant on ¾ acre parcel on a busy highway in a booming and high income Orlando metro. New 10 yrs NNN lease with corporate guaranty. NOI $85K/yr. with 8% rent increase every 5 yrs. $1.141M. 7.5% cap.
7. Microtel Hotel & Suites in Morgan Hill, CA: 60-room hotel built in 1999 on 1 acre lot with hwy-101 visibility in a growing and high income (AHI $126K/yr) city South of Silicon Valley. $3.995M.
8. Office Building in Southlake TX: 7056 SF class-A office building on .6 acre parcel in a wealthy Dallas suburb with AHI of $193K/yr. 100% NNN leased by a dentist and Kumon Learning Center. NOI $120K/yr. $1.5M. 8% cap.
9. Starbucks in Lakeland, FL: 1816 SF 2-yr old coffee house on ½ ac parcel in a growing city 30 miles East of Tampa. Surrounded by 10 national-branded hotels. 10 yrs NNN lease. NOI $113K/yr. $1.455M. 7.83% cap.
10. Shopping Plaza in Keizer, OR: 61,838 SF shopping center shadow anchored by Albertsons Grocery at a hard corner in a stable Salem metro. 95% leased. NOI $584K/yr. $7.3M. 8% cap.
    
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