Top 9 Properties of 03-31-09

1. Retail/office building in Milpitas, CA: 7500 SF vacant 2-story building right at I-680 and Calaveras Blvd. Zoned for restaurant, medical, or professional office. AHI of $123K/yr with 1 mile radius. $1.5M.
2. Retail strip in Inglewood, CA: 11,431 SF retail strip built in 1986 near Hollywood race track in a densely populated area with over ¾ million residents within 5 miles radius. 100% leased. NOI $425K/yr. $5.6M. 7.6% cap.
3. Tutor Time Childcare in Gilbert, AZ: 10,414 SF childcare center built in 2001 on 1.3 acres lot in a fast growing and wealthy (AHI $97K/yr) Phoenix suburb. 100% NNN leased till 2022. NOI $205K/yr with up to 3% annual rent bump. $2.35M. 8.75% cap.
4. Orchard Supply hardware in Antioch, CA: 52,161 SF store on 3.22 acres lot across from 501,000 SF Somersville Towne Center Mall just off hwy 4. 100% NN leased. NOI $556K/yr. $7.3M. 7.62% cap.
5. Shopping center in Houston, TX: 22,650 SF multi-tenant shopping center just 1 block from I-45. 100% leased. NOI $235K/yr.$2.65M. 8.9% cap.
6. Walgreens in El Paso, TX: 13,453 SF drug store constructed in 1995 on 1.63 acres lot in a fast growing city. 100% NNN leased. NOI $229K/yr. $2.7M. 8.5% cap. Recession-insensitive tenant.
7. CVS Pharmacy in Las Vegas, NV: 10,800 SF 5-yr old drugstore on 1.25 acres parcel in a fast growing (78% since 2000) and high-income part of the city (AHI $86K/yr). 100% NNN leased till 2028. NOI $223K/yr. 8.41% cap. Buyer to assume $2.384M loan. Note: this is a zero cash flow property ideally for investors who want to write off big losses from other investments, e.g. stocks market.
8. Community center in Mesa, AZ: 69,568 SF community retail center built in 2002 on over 8 acres corner parcel. Shadow anchored by Target. Located in a fast growing Phoenix suburb. 86% NNN leased. NOI $1.167M. $12.975M. 9% cap.
9. Meineke Muffler in Harrisburg, NC: 3600 SF auto repair center built in 2004 on .69 ac parcel in a fast growing (49%) and high income (AHI $75K/yr) Charlotte suburb. 100% NNN leased till 2014. NOI $81K/yr with 3% annual rent bump. $1M. 8.1% cap.
   
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