Top 5 Retail Properties 04-21-09

1. Marketplace in Birmingham, AL: 67,325 SF 12-unit shopping center built in 1998 on 9.7 acres parcel in a growing and middle class area with AHI of $93K/yr. Anchored by Winn Dixie Grocery and Dollar Tree. 96% NNN leased with 1 small available unit. NOI $624K/yr. $5.625M. 11% cap! Note: no flyer attached but full brochure avail.
2. Single tenant retail in Sugarland, TX: 6050 SF retail building constructed in 2002 on ¾ acre parcel on a major artery in a fast growing and affluent (AHI $105K/yr) Houston suburb. 100% NNN leased by Sherwin William Paint till 2017. NOI $93K/yr. $1.275M. 7.34% cap.
3. Denny’s in Sparks, NV: 9920 SF Denny’s completed in 2006 on 1.29 acres outparcel to Kohl’s and Wal-mart in a fast growing Reno metro. Surrounded by Costco, Home Depot, Office Depot, Sports Authority, Best Buy, Michael's, PetsMart, Office Max, Ross, Bed Bath & Beyond, and Cost Plus World Market. 20 yrs absolute NNN ground lease (investor owns the land and tenant owns the building; if tenant does now renew the lease then the building belongs to investor). NOI $111K/yr with 10% rent bump every 5 yrs. $1.59M. 7% cap. Possible seller’s financing.
4. Lexington Hotel in Phoenix, AZ: 107-room hotel near downtown with meeting rooms, full service restaurant, room service, pool, sauna, spa, exercise room, guest laundry room, complementary business center, and free parking to guests. NOI $872K/yr. $9.18M. 9.5% cap.
5. Shopping strip in Van Nuys, CA: 5767 SF strip center built in 2004 on .45 ac corner lot in a densely populated (700K residents within 5 miles) and strong income (AHI $86K/yr) city in LA county. 100% NNN leased by 4 tenants. NOI $196K/yr. $2.695M. 7.3% cap.
   
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