Top 9 Properties of 04-07-09

1. Shopping center in West Valley, UT: 49,530 SF retail center on 5 acres of land in a fast growing Salt Lake city suburb. Shadow anchored by Kohl’s department store. 100% NNN leased by all national tenants: Michaels, Petsmart, Weight Watchers, Starbucks, Sprint, Quizno's, and Fantastic Sam's. NOI $772K/yr. $9.9M. 7.8% cap. Buyer to assume 6.6M loan at low 5.21% interest.
2. Chevron gas station in Santa Rosa, CA: 5 MPDs gas station with convenient store on 2/3 acre parcel close to Hwy 101 in a well-off city North of San Fran. Pumping 100,000 gallons/month and 80K gross in store. $2.199M.
3. Starbucks in Lakeland, FL: 1816 SF 24-hr Starbucks built in 2007 just off I-4 in Tampa suburb. Great location
   · near 851-bed Lakeland regional medical center.
   · Surrounded by 10 hotels
   10 yrs NNN lease. NOI $114K/yr. $1.404M. 8.14% cap
4. CVS Pharmacy in Pembroke Pines, FL: 13,780 SF drug store built in 2003 on 1.4 acres parcel in Miami metro. NOI $327K/yr. $4.22M. 7.75% cap.
5. Texas Roadhouse restaurant in Palm Bay, FL: 7202 SF restaurant built in 2004 on 2.34 acres parcel just off I-95. New 10 yrs absolute NNN lease by Texas Roadhouse (NASDAG: TXRH) with corp guaranty. NOI $234K/yr. $2.909M. 8.25% cap.
6. Jiffy Lube in Surprise, AZ: 2500 SF new Jiffy Lube in an explosive growth (109%) Phoenix metro. 20 yrs NNN lease by a successful franchisee with 60 locations. NOI $142K/yr. with 3% annual rent bump. $1.68M. 8.5% cap.
7. Strip Mall in Dallas, TX: 10,420 SF strip center built in 2005 on 1.37 acres pad site to Wal-mart and Sams Club next to I-30 exit. 100% NNN leased by 4 good tenants: Monarch Dental, Check Into Cash, Foot Locker and Pizza Hut. NOI $219K/yr. $2.58M. 8.5% cap.
8. Dollar General Store in Stockbridge, GA: 9100 SF brand new Dollar General store on over 1 acre parcel near I-75 exit in a fast growing Atlanta suburb. 10 yrs NNN lease. NOI $83K/yr. $980K. 8.5% cap. Recession insensitive tenant.
9. La Petite Academy Preschool in Lancaster, CA: 6700 SF preschool on 1 ac lot in a growing city in Los Angeles. 100% leased by a national childcare provider. NOI $81K/yr. $1.3M. 6.2% cap. Note: don’t mis-judge this property by the low cap rate.
   
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