Best 9 Properties Among 399 on 7/22/09

1. Strip center in Austell, GA: 9000 SF 3-yrs old multi-tenant strip center on 1.24 ac outparcel to a Home Depot and across from Walmart in fast growing and strong income Atlanta metro. 100% NNN leased with several national tenants. NOI $246K/yr. $2.9M. 8.5% cap.
2. Burger King in Houston, TX: 4770 SF restaurant on 1.23 acres parcel just off Hwy 59. New 20 yrs absolute NNN lease from a franchisee with 50 locations and over $60M in sales.. NOI $143K/yr. $1.85M. 7.75% cap.
3. Christian Brother Auto in Carrollton, TX: brand new 4790 SF auto center on 2/3 ac parcel in a booming middle upper class in Dallas suburb. New 15 yrs absolute NNN lease. NOI $155K/yr. with 1.5% annual rent bump. $1.823M. 8.5% cap.
4. Jiffy Lube in Omaha, NE: 3113 SF Jiffy Lube built in 2008 on 1/3 acre in the financially happiest state (according to ABC News). New 20 yrs absolute NNN lease by Heartland Auto with 430 locations. NOI $74K/yr with 10% rent bump every 5 yrs. $926K. 8% cap.
5. Walgreens in Jacksonville, FL: 13,905 SF drug store built in 1997 on 1.84 ac hard corner lot. 100% NN corp lease. NOI $176K/yr (note: very low base rent of less than $13/SF gives tenant strong incentive to renew lease). $2.14M. High 8.35% cap.
6. Shopping Center in Palmdale, CA: 69,599 SF shopping center built in 2000 on 6.95 acres parcel across from 1M SF Antelope Valley Mall. 100% NNN leased by Ross and Sport Chalet. NOI $775K/yr. $10.36M. 7.25% cap.
7. Shopping Center in Fort Smith, AR: 198,371 SF neighborhood center anchored by Wal-mart in a middle upper class of Fort Smith (AHI over $90K/yr). 97% leased. NOI $881K/yr. $11M. 8% cap.
8. Shopping center in Phoenix, AZ: 19,818 SF 10-yrs old inline shopping center on 2.21 acres lot in a growing and high income area. Shadow anchored by Albertson Supermarkets and Walgreens. 89% NNN leased. Actual NOI $344K/yr. $3.825M. 9% actual cap. Upside potential when 100% leased.
9. 18-unit Apartments in Martinez, CA: 18-unit apartments on ¼ acre lot in a high income Bay Area city with AHI over $88K/yr. 95% occupied. NOI $100K/yr. $1.295M. 7.77% cap with gross rent multiplier of 7.28.
   
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