Top 9 Properties 03-05-09

1. Childtime Learning Center in Midlothian, VA: 6380 SF childcare center on .8 acre lot in a growing and middle-class (AHI $99K/yr) Richmond metro. 100% NNN leased till 2021 by a national childcare provider. NOI $89K/yr. $963K. 9.25% cap.
2. Shopping center in Santee, CA: 20,518 SF 2-story shopping/office complex in San Diego metro. 88% leased with 4 small vacant units. NOI $296K/yr. Price reduced to $3.895M. 7.6% cap.
3. Carl’s Jr restaurant in Chandler, AZ: 6015 SF fast food restaurant on 1.10 acres parcel in a growing Phoenix metro. 20 yrs NNN lease by an operator with 134 locations. NOI $120K/yr. $1.548M. 7.75% cap.
4. Days Inn in Fairfield, CA: 102 room motel on 1.64 acres parcel just off I-80 exit in a high income city with AHI over $104K/yr. NOI $509K/yr. $5.8M. 8.79% cap.
5. Medical building in Saginaw, TX: 4500 SF medical building constructed in 2007 in a booming Dallas suburb (111% since 2000). 100% NNN leased by 2 medical tenants: a Doctor and Orthodontist. NOI $88K/yr. $1.045M. 8.5% cap.
6. Speedy Cash in Las Vegas, NV: 2000 SF free-standing retail store on ¼ acre parcel. 100% NNN leased by a regional tenant with over 80 locations. NOI $99K/yr. $1.081M. 9.15% cap.
7. Office building in Arvada, CO: 12,250 SF single-tenant office building in Denver metro. 100% leased by county Health Department in the past 18 yrs. NOI $87K/yr. $850K. 10.3% cap.
8. Rite Aid in Charlotte, NC: 10,908 SF drug store built in 1997 on 1.26 acres parcel on a main artery. 100% absolute NNN leased till 2017. NOI $211K/yr. $2.29M. 9.25% cap.
9. Carrow’s restaurant in Santa Maria, CA: 5450 SF restaurant on .8 acres parcel in a stable and strong income city. 20 yrs corp absolute NNN lease with 7 yrs remaining. NOI 4145K/yr with up to 9% rent bump every 3 yrs. $1.933M. 7.5% cap.
   
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