Top 8 Properties Among Over 300 4/1/09

1. Ramada Inn in Altamonte, FL: 141-unit recently renovated hotel just off I-4 and near Altamonte Mall in Orlando metro. Price reduced to 4.55M or just over $32K/unit.
2. Joe’s Crab Shack restaurant in Sanford, FL: 8046 SF franchised restaurant on 2 acres parcel at the entrance of Seminole Towne Center Mall in Orlando metro. 20 yrs absolute NNN lease by a corp with 120 locations. NOI $262K/yr. $3.105M. 8.45% cap.
3. Advance Auto Parts in Decatur, GA: 7000 SF on 1 ac parcel with recent $200K in renovation in Atlanta metro. 100% NNN leased. Tenant has been at this location over 10 yrs. NOI $71K/yr. $910K. 7.9% cap. Recession insensitive tenant. Great for 1st time investor.
4. Retail Strip in Medford, OR: 8400 SF multi-tenant retail center shadow anchored by Albertson’s supermarket in a stable city. 100% NNN leased. NOI $111K/yr. $1.4M. 8% cap. Seller will finance with 20% down payment at 6% interest.
5. Shopping Plaza in Concord, NC: 39,443 SF new plaza in a growing Charlotte suburb. Anchored by peak Fitness, the largest fitness club in NC. 90% leased. NOI $328K/yr. $4.25M. 8.25% cap. Note: per the WSJ 4/1/09, home prices in Charlotte (among 20 major US metros) have lowest price drop of about 2% since May 2006 national housing market peak (Phoenix, Las Vegas, Miami, San Fran, San Diego all have at least 40% drops).
6. Shopping Center in West Palm Beach, FL: 24,360 SF shopping center on 4.35 acres corner lot on a major artery just one block from I-95. 92% NNN leased. NOI $361K/yr. $4.375M. 8.25% cap.
7. Medical center in Federal Way, WA: 17,096 SF medical office building on 2.74 acres lot in a strong income Seattle metro. 100% NNN leased. NOI $270K/yr. $3.5M. 7.73% cap.
8. Walgreens in Broomfield, CO: 13,905 SF drug store built in 1997 on 2.16 acres corner parcel in a prime commercial corridor in a fast growing (24% since 2000) and high income (AHI $93K/yr) Denver suburb. Surrounded by K-Mart, Hobby Lobby, Home Depot, Staples, Big Lots and Kohl's. 100% NN leased. NOI $270K/yr. $3.18M. 8.5% cap. Note: this is the highest cap I have seen on a Walgreens at a very good location.
   
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