Top 7 Properties Among 350 09-14-09

1. Rite Aid in Raleigh, NC: 10,908 SF drug store built in 2001 on 2.7 acres hard corner lot with 2 points of access. Across from Food Lion supermarket anchored shopping center in a high-growth (53% from 2000-2008), high income (AHI $73K/yr) part of Raleigh. Great location with no competitions within 3 miles radius. 100% NNN leased till 2022. NOI $284K/yr. $2.71M. 10.5% cap.
2. Starbucks in Rio Rancho, NM: 2000 SF Starbucks Coffee built in 2006 on ½ acre across from Wal-mart Supercenter in a high-growth Albuquerque suburb. 100% NNN leased till 2016. NOI $85K/yr with 10% rent bump every 5 yrs. $1.137M. 7.5% cap.
3. Advance Auto Parts in Commerce City, CO: 7000 SF auto parts store on over 1 acre lot in Denver metro. opened in Dec 2007 with 15 yrs NNN lease. NOI $133K/yr. $1.715M. 7.75% cap.
4. Strip Mall in Phoenix, AZ: 7534 SF retail center built in 2005 on 1 acre lot. Shadow anchored by Walgreens and Autozone. 100% NNN leased by 6 tenants with 3 being national tenants. NOI $161K/yr. $1.795M. 9% cap.
5. Tuffy Auto Service Center in Fort Myers Beach, FL: 7200 SF franchised automotive center built in 2001 in a high income city with AHI over $93K/yr. 100% NNN corp lease. NOI $141K/yr. Price reduced to $1.275M. 11% cap.
6. Apartments in Pasadena, TX: 362 unit apartments complex on 9.5 acres lot near Southmore Medical Center in Houston metro. 90% occupied. NOI $962K/yr. $9.65M. 9.97% cap. Low Gross Rent Multiplier of 3.67%.
7. Storage Facility in Carson City, NV: 67,000 SF storage facility opened in 1999 with a commercial building and a 2-br apartment for on-site manager. 95% occupied. NOI $249K/yr. $2.9M. 8.6% cap.
   
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