Tuesday, October 27, 2009

Top 8 Properties Of 10-13-09

  1. Single Tenant Retail in Fairfield, CA: 43,896 SF single tenant big box on 4 acres of land in Northern CA. 100% absolute NNN leased till 2028 by Orchard Hardware Supply. NOI $724K/yr with strong 11% rent bump in 2013 and every 5 yrs thereafter. $8.52M. 8.5% cap.
  2. Dialysis Center in Chicago, IL: brand new 8000 SF single-tenant medical building in a densely-populated city with over 750K residents within 5 miles ring. 10 yrs NNN lease guaranteed by DaVita Incorporated (NYSE: DVA). NOI $141K/yr. with 2% annual rent bump. $1.83M. 7.75% cap. Recession resistant tenant.
  3. Quality Inn and Suites in Carlsbad, CA: 124 unit motel built in 1986 on 2.59 acres parcel with ocean view in a affluent coastal town (AHI $140K/yr) in San Diego suburbs. Easy access to I-5 and walking distance to the beach. 68% avg occupancy and $92/night. NOI $826K/yr. $11.8M. 7% cap.
  4. Burger King in Grand Island, NY: 5850 SF restaurant remodeled in 2008, on 3.15 acres lot. Just off I-190 south of Niagara Falls. New 20 yrs NNN lease by Carrols Corporation, Burger King's largest franchisee. NOI $92K/yr. $1.15M. 8% cap.
  5. Apartment in San Leandro, CA: 9-unit 3-story apartment on ¼ acres in a high-income San Fran Bay Area with AHI over $81K/yr. 100% occupied. Gross income $131K/yr. NOI $92K/yr. $1.3M. 7.08% cap.
  6. Medical Office building in Lakewood, WA: 10,400 SF 3-building office complex on 1.2 acres lot in Tacoma metro. 80% leased. NOI $108K/yr. $1.4M. 7.75% cap.
  7. Goddard Preschool in Charlotte, NC: 8000 SF franchised day care center built in 2000 on over 1 acre parcel. 10 yrs NN lease. NOI $140K/yr. $1.399M. 10% cap.
  8. Walgreens in Hermitage, TN: 13,905 SF drug store on 1.67 acres lot in Nashville metro. 20 yrs NNN lease with 9 yrs remaining. NOI $260K/yr. $2.971M. 8.75% cap.

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