Thursday, May 21, 2009

Top 3 Properties Among 278 5/14/09

  1. Pep Boys in Tucson, AZ: 22,815 SF store front retail building on 2.37 acres of land along main thoroughfare in growing Arizona area. 100% NNN corp lease with 1.5% annual rent increases. NOI $254K/yr. $3.503M. 7.25% Cap.
  2. Big O Tires in Phoenix, AZ: nice looking 5100 SF retail building constructed in 2004 on .70 acre lot shadow-anchored by Walgreen’s in one of the most dominant intersections. 100% absolute NNN corp lease with 3% annual rent increases. NOI $144K/yr. $1.990M. 7.25% Cap.
  3. Strip Center in Lithonia, GA: 7242 SF 2-tenant strip center at main entrance to anchored shopping center less than ½ mile from Dekalb Medical Center. 100% NNN leased by national tenants. NOI $133K/yr. $1.337M. 10% Cap.

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