Top 7 Properties Among 350+ 10-12-09

NOI: Net Oper income
AHI: Avg Household income

1. Retail center in Lake Elsinore, CA: 3876 SF retail center built in 2008 on .8 ac outparcel to a shopping center anchored by Home Depot, Walgreens, Petco, 99 Cents Only, Office Max and Big 5 Sporting Goods. Just off I-15 in a high-growth town. 100% NNN leased by 2 brand name tenants: Radio Shack and Wienerschnitzel. NOI $137K/yr. $1.777M. 7.75% cap.
2. Del Taco restaurant in Layton, UT: 3181 SF brand new franchised restaurant in a prime commercial corridor just off I-15 in Salt Lake City metro. 20 yrs NNN lease by a top Del Taco franchisee. NOI $130K/yr. $1.625M. 8% cap.
3. Walgreens in Birmingham, AL: 13,905 SF drug store on 1.17 acres corner parcel. 20 yrs NN lease with 9.5 yrs remaining. NOI $289K/yr. $3.306M. 8.75% cap.
4. Panda Express restaurant in Hayward, CA: 2406 SF restaurant built in 2002 on pad to Target just off I-880 in a city with AHI over $91K/yr. 100% NNN lease with 6 yrs remaining. NOI $104K/yr with 10% rent bump in 2010. $1.438M. 7.25% cap now and 7.97% cap in 2010.
5. Ryan’s restaurant in Spartanburg, SC: 10,902 SF restaurant on 1,9 acres outparcel to a Wal-mart supercenter and close to Westgate Mall. Just off I-26. Store with strong revenue of over $2.3M/yr. Long term NNN corp lease. NOI $205K/yr. $2.05M. 10% cap.
6. Shopping Center in Boynton Beach, FL: 13,041 SF strip mall on 1.2 acres lot on a busy artery just .3 mile from Boynton Beach Mall in high income area North of Fort Lauderdale. Excellent visibility. 90% leased with just 1 vacant space. NOI $306K/yr. $3.4M. 9% cap.
7. Macaroni Grill restaurant in Burlington, MA: 7956 SF restaurant on 2.66 acres parcel across from 1.246 Million SF 170-shop Burlington Mall in an affluent Boston suburbs with AHI over $117K/yr. NOI $268K/yr. Long term absolute NNN corp lease. NOI $268K/yr. $3.352M. 8% cap.
   
   © Transmercial 2009. All rights reserved.