Top 8 Properties of 03-23-09

1. Walgreens in Modesto, CA: 14,820 SF brand new drug store on 1.6 acres lot in a booming& higher income (AHI $77K/yr) part of town. New 25 yrs NNN lease. NOI $413K/yr. $5.8M. 7.12% cap.
2. Office building in Manteca, CA: 3814 SF free-standing office building in a growing city. 100% NNN leased by DMV till 2014. NOI $138K/yr. $1.825M. 7.58% cap.
3. Burger King in Houston, TX: 2929 SF restaurant on ¾ acres lot with frontage on I-10 with over 144,000 vehicles/day. New 20 yrs absolute NNN lease. NOI $114K/yr. $1.485M. 7.7% cap.
4. Shopping center in Dallas, TX: 10,429 SF retail strip built in 2005 on .86 acre outparcel to a Wal-mart center. 100% NNN leased by 4 brand name tenants. NOI $221K/yr. $2.64M. 8.37% cap.
5. Arby’s restaurant in Peoria, AZ: 3100 SF restaurant built in 2001 on .72 acre pad site to Home Depot & Sears in a growing city. 100% NNN leased till 2021 with strong guaranty by Arby’s Restaurant Group, Inc. with 3500 locations. NOI $131K/yr. with 1% annual rent bump. $1.834M. 7.15% cap.
6. Applebee’s in Lewisville, TX: 5911 SF restaurant on 1.25 acres lot across the street from 1 million SF Vista Ridge Mall in a fast growing Dallas suburb. 20 yrs NNN lease from an experienced operator with 37 locations and net worth of over $20M. NOI $244K/yr. 3.05M. 8% cap.
7. Pet supermarket in Smyrna, GA: 9504 SF single-tenant retail store renovated in 2007 in an affluent Atlanta suburb with AHI over $102K/yr. 100% NNN leased by Pet Supermarket with 6 yrs remaining. NOI $156K/yr. $1.565M. 10% cap.
8. Walgreens in Yorktown, VA: 14,820 SF brand new drugstore on 2.12 acres corner parcel in a stable and high income Norfolk metro. 25 yrs NNN lease. NOI $480K/yr. $6.484M. 7.4% cap.
   
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