Top Properties Among 337 on 05/11

1. Shopping center in McAllen, TX: 30,250 SF 3-yrs old shopping center on 4.4 acres parcel in a fast growing & high income city. 100% NNN leased by 3 brand name tenants: Old Navy, Dots Fashion, and Shoes Carnival. Shadow Anchored by Best Buy, Target, Ross, Marshalls, Hobby Lobby, Bealls & PetSmart. Across from a 46-acre Plaza Del Norte Lifestyles shopping center. Adjacent to Home Depot, and HEB Supermarket. NOI$464K/yr. $5.5M. 8.45% cap.
2. O’Reilly Auto Parts in Decatur, GA: 6800 SF brand new auto parts store on 1.43 ac lot in Atlanta metro. 20 yrs NNN corp lease. NOI $109K/yr. $1.466M. 7.5% cap.
3. 24 Hour Fitness center in Phoenix, CA: 49,302 SF retail center built in 1997 on 4 acres of land next to 1,400,000 SF Metrocenter Mall. Anchored by 35,992 SF 24-Hr fitness center with a NNN lease till 2022. 78% leased with 8 small vacant units. Actual NOI $735K/yr. $6.7M. 11% cap. Upside potential when 100% leased. Note: this is a short sale subject to lender’s approval.
4. Joe’s Crab Shack restaurant in Sanford, FL: 8046 SF restaurant on 1.77 acres at the entrance to Town Center Mall in the fast growing Orlando metro. 19 years absolute NNN lease by a corp with 120 locations. NOI $262K/yr with 10% rent bump every 5 yrs. $3.105M. 8.45% cap.
5. Dollar Tree store in Twenty-nine Palms, CA: brand new 15,506 SF Dollar Tree store on 1.5 acres lot on a Stater Bros grocery anchored shopping center. New 10 yrs NNN corp lease. NOI $190K/yr. with 10% rent increase in year 6. $2.235M. 8.5% cap. Recession resistant tenant.
6. Firestone Auto Center in Arlington, TX: 14,114 SF auto care center on 2.14 acres outparcel to Six Flags Mall with close proximity to the new Cowboys Stadium. 100% corp leased. NOI $103K/yr. $936K. 11% cap.
7. Shopping Plaza in Rialto, CA: 23,854 SF shopping plaza on 4.5 acres lot as part of an 87,000 SF 11-acre shopping center anchored by a 35,232 SF Stater Bros Grocery and Pep Boys automotive. 100% NNN leased. NOI $326K/yr. $4.3M. 7.59% cap. Owner will cary with 25% down payment.
8. Office Depot in San Ramon, CA: 30,122 SF Office Depot store on 2.88 acres lot near I-680 in an affluent city with AHI of over $152K/yr. new 15 yrs corp NNN lease. NOI $542K/yr with 10% rent bump every 5 yrs. $6.9M. 7.85% cap.
9. Chase Bank Center in Dallas, TX: 9100 SF multi-tenant retail center built in 2005 on .95 acre outparcel to a Wal-mart supercenter with I-30 frontage. Anchored by Chase Bank. 100% NNN leased by 4 good tenants: bank, dentist, pizza restaurant and a prominent CPA firm. NOI $209K/yr. $2.705M. cap
10. Medical Building in Garden Grove, CA: 7240 SF medical office building on .55 acre lot in a high-income densely-populated city with over 750K resident within 5 miles radius in Orange County. 85% leased by a Dental Implant center and an Optometrist. NOI $156K/yr. $1.95M. 8% cap.
    
    © Copyright Tranmercial 2009. All rights reserved.