Top 6 Retial Properties 03-17-09

1. CVS Pharmacy in Conway, SC: 10,128 SF drug store built in 1998 on 1.36 acres corner lot in a growing town near Myrtle Beach. 20 yrs NNN lease with 10 yrs remaining. Store with strong & increasing annual revenue of over $7.4M in 2008. NOI $196K/yr. $2.33M. Strong 8.4% cap for recession-resistant national tenant.
2. Strip Center in Rio Rancho, NM: 7924 SF retail strip on .85 ac lot adjacent to Target Supercenter and Albertson’s Grocery in a fast Albuquerque suburb. 100% NNN leased by 3 brand name tenants: Rent A Center, Perfect Teeth (NASDAQ: BDMS), and Subway with below market rent of $14/SF. NOI $106K/yr. $1.25M. 8.5% cap. Note: Intel just announced $2.5B in upgrade in its facilities here.
3. Shopping Center in Houston, TX: 18,045 SF shopping center on 1.24 acres parcel next to West Oak Mall in a growth path. 91% NNN leased. NOI $282K/yr. $3.295M. 8.56% cap.
4. Retail Office Plaza in Kissimmee, FL: 13,244 SF 2-story retail office center on a corner lot with excellent visibility in a fast growing and high income Orlando suburb. 100% leased. NOI $172K/yr. $2.05M. 8.4% cap.
5. Best Western Motel in Lodi, CA: 48-room motel on 1.48 acres parcel near Hwy 99. NOI $340K/yr. $3.8M. 9% cap.
6. Fresh & Easy Neighborhood Market in Gilbert, AZ: 14,841 SF sing-tenant neighborhood market built in 2000 on 2.2 acres lot in a booming (71%) and affluent (AHI $99K/yr) Phoenix suburb. 20 yrs NNN corp lease with 18 yrs remaining. NOI $291K/yr. $3.646M. 8% cap.
   
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