Top 6 Retail Properties 09-25-09

NOI: Net Oper Income
AHI: Avg Household Income

1. Burger King in Rialto, CA: 3558 SF fast food restaurant on 1 acre outparcel to a Walmart Supercenter just 1 block from I-10. 20 yrs NNN lease with 9 yrs remaining. NOI $115K/yr. Price reduced to $1.67M. 6.9% cap.
2. Shopping Center in Mesa, AZ: 28,363 SF shopping center in a higher income part of Phoenix metro. 97% leased. NOI $365K/yr. $4.57M. 8% cap.
3. Single Tenant Retail center in San Juan Capistrano, CA: 29,000 SF retail building on 2 aces lot as part of a larger shopping center in an affluent South Orange county area w/ AHI $135K/yr. Easy access to I-5. 100% NNN leased by Ross Dress For Less. NOI $345K/yr. $4.75M. 7.2% cap.
4. Walgreens in Schertz, TX: new 14,820 SF drug store on 2 acres lot near I-35 in San Antonio suburbs. 25 yrs absolute NNN lease. NOI $327K/yr with potential percentage rent. $4.425M. 7.4% cap.
5. Jiffy Lube in Avondale, AZ: 1947 SF Jiffy Lube built in 2005 on 1/3 ac lot in Phoenix metro. 15 yrs NNN lease by a franchisee with 61 units. NOI $114K/yr with rare 15% rent bump in 2012 and each subsequent 5 yrs. $1.425M. 8% cap.
6. Medical Office Building in Concord, NC: 9148 SF medical office building just 1 block from Northeast Medical Center in Charlotte metro. 10 yrs NNN by Carolinas Healthcare System, a hospital network located throughout North and South Carolina. NOI $148K/yr with 2.5% annual rent increase. $1.86M. 8% cap.
   
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