Tuesday, May 26, 2009

Top 6 Retail Properties Among 273 05/18/09

  1. Strip Center in Dallas, TX: well located 16,245 SF brick strip center built in 1988 on 1.46 acres of land adjacent to Richland College near Fwy-635. 100% NNN leased. NOI $183K/yr. $2.160M. 8.5% Cap. Buyer to assume $1.305M at 6.67% interest rate.
  2. Retail Building in Des Moines, IA: 12,000 SF attractive retail building recently remodeled on 1.48 acres of parcel along I-69 at main entrance of Office Max shadow-anchored center. 100% NNN leased by four tenants. NOI $235K/yr. $2.694M. 8.75% Cap.
  3. Merchant’s Tire & Auto Center in Raleigh, NC: 6220 SF Merchant’s Tire & Auto center built in 1995 on 1 acre lot in fast growing (55.02%) & wealthy (AHI $113K/yr within 1 mile radius) neighborhood close to Fwy-540. 100% NNN lease guaranteed by Merchant’s Inc. NOI $155K/yr. $1.726M. 9% Cap.
  4. Green Frog Grocery Market in Bakersfield, CA: 19,988 SF established grocery store on 2.25 acres of land at signalized intersection. 10-years NNN lease. NOI $143K/yr. $1.860M. 7.74% Cap.
    -This is a sale leaseback investment
    -Supermarket operating at this site since 1934
  5. Home Town Buffet in Laguna Woods, CA: 9055 SF upscale retail building constructed in 2004 on 1.13 acres of parcel in a prosperous neighborhood in densely-populated Southern California. 100% absolute NNN corp leased by strong operator with 540 restaurants in the US. NOI $295M. $3.699M. 8% cap.
  6. 7-Eleven in Phoenix, AZ: 2400 SF mature retail building on .51 acre lot at signalized intersection off of Fwy-10. 100% absolute NNN corp lease. NOI $47K/yr. $775K. 6.11% Cap. Excellent for 1st time investor.
    -Strong store sales


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