Top 10 Properties Among 400 of 02-25-09

1. Walgreens in North Highland, CA: 14,490 SF new drugstore on 1.8 acres corner lot in Sacramento metro. 25 yrs NNN lease with no landlord responsibilities. NOI $412K/yr. $5.843M. 7.05% cap.
2. Firestone Auto Care Center in League City, TX: 8142 SF Car Care center on 1.57 acres parcel in a growing & high income Houston suburb. 15 yrs NNN lease with corp guaranty. NOI $164K/yr with rent bump every 5 yrs. $2.115M. 7.75% cap.
3. AppleBee’s restaurant in Saint Louis, MO: 5115 SF restaurant on 1.25 acres lot at a 4-way signalized intersection. 20 yrs absolute NNN lease. NOI $204K/yr. $2.55M. 8% cap.
4. Medical Center in Houston, TX: 31,575 SF class-A medical center built in 2007 on 3.85 acres lot with 598 ft frontage on Beltway 8 with over 91,000 car per day traffic. Anchored by Texas Children’s Pediatric. 95% NNN leased. NOI $536K/yr. $6.384M. 8.4% cap. Recession-insensitive tenants.
5. Sonic Drive In Restaurant in Sparks, NV: 1726 SF restaurant on 1 acre lot across from Kohl’s and Walmart center. 20 yrs absolute ground lease (you own the land and tenant owns the improvement). NOI $87K/yr with 10% rent bump every 5 yrs. $1.25M. 7% cap.
6. Monterey Bay Lodge in Monterey, CA: 45-room hotel just 100 ft from the beach in a high-income coastal resort town. NOI $630K/yr. $7M. 9% cap.
7. Shopping Plaza in Wichita, KS: 14,291 SF retail plaza on 1.66 acres parcel in affluent (AHI $112K/yr) area near the 1.16 Million SF Towne East Square Mall. Anchored by McAllister Deli. 94% NNN leased. Actual $2.43M. NOI $206K/yr. 8.5% cap. Upside potential when 100% leased. Only $170/SF.
8. Strip Mall in Mesa, AZ: 6773 SF 3-yrs old strip center as part of a big shopping center just off Superstition hwy exit. 100% NNN leased by 4 tenants. NOI $171K/yr. Price reduced to $2.194M. 7.8% cap.
9. Shopping center in Sunnyvale, CA: rare 18,122 SF well-maintained 10-unit retail center on 1.97 acres lot with easy access to Hwy 237 in the middle of Silicon Valley. 91% NNN leased with just 1 vacant unit. NOI $412K/yr. $6.35M. 6.5% cap.
10. Medical Office building in San Jose, CA: 13,669 SF medical office building on Santa Clara street. $2.599M.
    
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