Recession Insensitive Business: during the recession, people stop buying new cars. So they have to spend money maintaining existing ones. And thus auto parts stores, car care shops are very insensitive to recession.
- Pep Boy Autos in Las Vegas, NV: 20,886 SF on 2.13 acres lot in a densely populated area. 15 yrs absolute NNN lease by Pop Boys (NYSE: PBY). NOI $300K/yr. $4.199M. 7.15% cap.
- Jack In the Box in Carlsbad, CA: 2303 SF recently remodeled restaurant on .68 acres outparcel to a shopping center just off I-5 exit in a wealthy (AHI $141K/yr) coastal city in San Diego. New 10 yrs NNN lease with corporate guaranty. NOI $90K/yr. with rent bump every 5 yrs. $1.5M. 6% cap.
- Strip center in Orange, CA: 5680 SF strip center on .4 acre lot on a major artery with easy access to I-5, hwy 57 & 22 in a densely-populated are with over 750K residents within 5 miles radius. 100% leased by 5 good tenants. NOI $110K/yr. $1.574M. 7% cap.
- Shopping center in Norco, CA: 45,102 SF shopping center on 4.77 acres lot in a growing and high income Riverside area. Anchored by a grocery store. 100% leased by 15 tenants. NOI$462K/yr. $6.606M. 7% cap. Only $146/SF!
- LA Fitness Center in Orlando, FL: 51,160 SF retail center anchored by 47,634 SF LA Fitness center with a new 15-yr lease. NOI $888K/yr. $10.957M. 8.11% cap.
© copyright eFunding Inc. 2009. All rights reserved.
No comments:
Post a Comment