Top 9 Properties Amoong 320+ 07-29-09

1. Starbucks Coffee in Clinton, MS: 1750 SF Coffee shop built in 2005 on a pad site at I-20 exit in a stable town. 10 yrs NNN lease with 6 yrs left. NOI $69K/yr with 10% rent bump every 5 yrs. $889K. 7.75% cap.
2. Elephant Bar restaurant in Peoria, AZ: rare 7650 SF sports bar & restaurant built in 2003 on 1.7 acres lot in a prime commercial district. Across from Peoria Sports Complex and near Arrowhead Towne Center Mall in a high income Phoenix suburb with AHI over $87K/yr. 20 yrs absolute corp NNN lease with 13 yrs left by a growing & successful Elephant Bar & Restaurant with over 50 locations. NOI $269K/yr with 10% rent increase every 5 yrs. $3M. 9% cap.
3. Strip Center in Montgomery, AL: 10,000 SF 5-unit strip mall on an outparcel to a Wal-mart supercenter. 75% NNN leased by 4 good tenants: Game Stop, Verizon Wireless, Advance America, and Kimberly’s Beauty. Actual NOI $140K/yr. $1.4M. 10% actual cap. Upside potential when 100% leased.
4. Ryan’s Grill & Buffet in Concord, NC: 11,026 SF restaurant built in 2005 on 2 acres lot across from 1.3 million square feet Concord Mills Mall in a fast growing & high income Charlotte suburb. 20 yrs absolute NNN corp lease with 15 yrs remaining. NOI $250K/yr with annual rent bump starting in 2010. $2.27M. 11% cap.
5. Strip Mall in Hendersonville, TN: 8618 SF new multi-tenant strip center in a fast growing and high income Nashville metro. 100% NNN leased. NOI $204K/yr. $2.245M. 8.42% cap.
6. Pizza Hut in Cottondale, AL: 3479 SF 10-yrs old restaurant on 2/3 acre parcel at I-20 exit. 100% NNN lease with 12 yrs left by the largest Pizza Hut franchisee with 1154 locations. NOI $79K/yr. $955K. 8.27% cap.
7. Rite Aid in Clemmons, NC: 14,547 SF pharmacy constructed in 2003 on 1.68 acres lot just off Hwy 421 in a growing and middle-class Winston-Salem. 20 yrs absolute NNN lease with no landlord responsibility. NOI $213K/yr. with 10% rent increase. $2.662M. 8% cap.
8. Retail Center in Bakersfield, CA: 6000 SF strip center on 2/3 ac out-parcel to a Walmart supercenter. 100% NNN leased by 3 brand-name tenants: Verizon Wireless, HR Block and Check into Cash. NOI $177K. Price just reduced to $1.95M. 9% cap.
9. Shopping Center in Phoenix, AZ: 19,818 SF 9-unit inline shopping center built in 1998 in a Albertson anchored shopping center. 89% NNN leased. Actual NOI $334K/yr. Price just reduced from $3.825M to $3.350M. 10% actual cap. Upside potential when 100% leased.
   
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