Top 7 Properties 09-18-09

1. Retail building in Parker, CO: 4917 SF 2-tennant retail building on 1 acre corner lot in an affluent Denver suburb. 100% NNN leased. NOI $108K/yr. $1.35M. 8% cap.
2. Shopping center in Riverside, CA: 42,289 SF shopping center anchored by Stater Bros grocery store on 4.5 acres corner lot in a growing middle class area. 100% master leased by Stater Bros. NOI $253K/yr. $3.79M. 6.7% cap.
3. CVS in Bonita Springs, FL: 10514 SF drug store on 1 acre lot on a major artery in a wealthy Fort Myers metro with AHI over $122K/yr. Across street from K-mart and Publix Supermarkets. 100% NNN lease with no landlord responsibilities. Store with over $5M in annual sales. NOI $205K/yr. with rent 7.5% rent increase in each of 5 yr options. $2.45M. 8.38% cap.
4. Walgreens in Daytona Beach, FL: 14,820 SF Walgreens with double drive-thru built in 2008 on over 2 acres corner lot. 100% rare absolute NNN lease with 24 yrs remaining. NOI $470K/yr. $6.225M. 7.7% cap.
5. Apartments complex in Hollywood, FL: 38-unit apartments complex on ½ acre lot in a good location East of I-95. All units are upgraded with new kitchens, bathrooms, tile floors, central air conditioning, and new roof. 100% occupied. NOI $235K/yr. $2.8M. 8.4% cap.
6. Walgreens in Lawrence, MA: 13,390 SF drug store constructed in 1998 on .86 ac lot North of Boston. 100% NN lease with 8.5 yrs left. NOI $343K/yr. $3.475M. 9.85% cap.
7. Walgreens in Denver, CO: 13,905 SF Walgreens built in 1996 on a corner lot on a major artery. Excellent demographics with over 400K residents within 5 mile ring, AHI over $84K/yr within 1 mile ring. Store with strong annual revenue of $7.5M. 100% NN lease. NOI $363K/yr. $4.27M. Strong 8.5% cap.
   
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