Top 10 Properties 10-01-09

1. Tuffy Auto in Orland Park, IL: 3730 SF auto service center built in 2000 on 1 acre parcel in a stable and high income (AHI $80K/yr) Chicago suburb. 100% NNN leased by a Tuffy Auto with over 450 locations in 21 states. NOI $79K/yr. with 10% rent bump in 3 yrs. $995K. 8% cap. Great for 1st time investors. Recession insensitive tenant.
2. Shopping Center in North Port, FL: 33,590 SF 2-building class-A Office/Retail complex built in 2006 on 4.57 acres parcel in a fast growing town South of Tampa. Current NOI $352K/yr. $4.43M. 8% cap. Note: this is a bank-approved short sale.
3. Single tenant retail building in Westminster, CO: 3384 SF 5-yr old Check Cashing/Payday Loans building on 2/3 acre corner lot in Denver. 100% NNN corp lease. NOI $95K/yr. $1.08M. 8.84% cap. Recession-proof tenant.
4. Walgreens in Tucson, AZ: 14,490 SF drug store built in 2004 on 1.74 acres parcel lot with rare 3 frontages. Surrounded by Target, Pier One, Fry' s, Ross, Bed Bath & Beyond, Office Max, Petco, and Dress Barn. 25 yrs absolute NNN lease with 20 yrs remaining. NOI $369K/yr. $4.983M. 7.4% cap.
5. New Medical Office building in Fort Worth, TX: 10,112 SF new medical office building in a booming (373% since 2000) Fort Worth suburbs. 100% NNN leased by 4 medical tenants. NOI $217K/yr. $2.57M. 8.45% cap.
6. Single tenant retail in Las Vegas, NV: 30,715 SF free-standing building on 2.53 acres lot at an intersection of 2 major roads. 100% NNN leased by Ross with over 10 yrs remaining. NOI $318K/yr with 10% rent bump in Feb 2010. $4.24M. 8.25% cap in Feb 2010.
7. Strip Mall in Bakersfield, CA: 6000 SF strip mall on 2/3 acre outparcel to Wal-mart supercenter. 100% NNN leased by 4 brand name tenants: H&R Block, Check into Cash and Verizon Wireless. NOI $177K/yr. Price reduced from $2.1M to $1.95M. 9% cap.
8. McDonald’s in Kansas City, MO: 6015 SF restaurant on 1.9 acres lot next to I-435. 100% absolute NNN lease. NOI $114K/yr. $1.54M. 7.4% cap.
9. Walgreens in Denver, CO: 13,905 SF drug store on 2 acre corner lot on a major artery in a high income (AHI $84K/yr) part of Denver. 100% NN leased till 2016. Store with strong revenue of over $7.5M/yr. NOI $363K/yr. $4.27M. 8.5% cap.
10. Shopping Center in Lancaster, CA: 32,662 SF 4-yrs old shopping center on 2.36 acres lot. Anchored by Dollar Tree and shadow anchored by CVS pharmacy. 100% NNN leased. NOI $413K/yr. $5.165M. 8% cap.
    
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