Top 5 Properties 09/22/09

1. Burger King in Pearland, TX: 2589 SF Burger King built in 2008 on .8 acre outparcel to 1.2M SF Pearland Town Center in suburban Houston. 20 yrs absolute NNN ground lease with percentage rent clause (note: you buy the land while tenant owns the building) from an operator with 35 Burger Kings in TX. NOI $128K/yr. $1.564M. 8.23% cap.
2. Tuffy Auto center in Bettendorf, IA: 5100 SF franchised auto service center built in 2007 on 1.46 acres pad site to Walgreens in a high income Davenport metro. New 20 yrs NNN lease with guaranty from Tuffy Corp guaranty with 400+ locations. NOI $123K/yr. $1.517M. 8.15% cap.
3. Walgreens in Pembroke Pines, FL: 13,997 SF drug store built in 1997 on 2.25 acre outparcel to BJ’s Wholesale Club on a major East/West 8-lane artery near I-75 in high income Miami metro. 20 yrs NN lease till 2017. NOI $302K/yr. $4.075M.
4. Arby’s restaurant in Jacksonville, FL: 3937 SF franchised restaurant on a major retail corridor. New 20 yrs absolute NNN lease from an experienced franchisee with 25 locations. NOI $93K/yr. $1.162M. 8% cap.
5. Office Building in Orlando, FL: 29,857 SF 4-yr old 2-story class-A office building on 2.5 acres lot on International Drive. 10 yrs NNN leased by Timeshare Only. NOI $536K/yr. 5.9M. 9.1% cap.
   
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