Top 10 Properties 10-21-09

1. Walgreens in Palmdale, CA: 13,650 SF new drug store on over 1 ac parcel on a hard corner in a high income (AHI over $106K/yr) area. 25 yrs NNN lease. NOI $429K/yr. $6.13M. 7% cap.
2. Apartments in Richland, WA: 64-unit 35,095 SF apartments complex in a fast-growth (46% since 2000) and high-income (AHI $80K/yr) city. Walking distance to lake Wallula. 100% occupied. NOI $216K/yr. $2.62M. 8.25% cap. Just over $40K/unit.
3. Apartments in Richland, WA: 39-unit apartments in the fastest growing metropolitan area in the state per MSNBC. 100% occupied. NOI $134K/yr. $1.63M. 8.25% cap.
4. Apartments in Long Beach, CA: 10-unit apartments in a densely-populated are with over 500K residents within 5 miles ring. 100% occupied. Gross rent of $115K/yr. $1.055M. 7.6% cap.
5. MRI Center in Conyers, GA: 2943 SF single-tenant medical office building on 1.27 acres lot in Atlanta metro. 100% NNN leased till 2016. NOI $80K/yr. $927K. 8.25% cap. Great for 1st time investors.
6. Strip Center in West Sacramento, CA: 10,824 SF brand new retail center on 1.75 acres parcel at a hard corner near Target, Lowes and high-end Nugget Market. NOI $377K/yr. $4.867M. 7.75% cap.
7. Medical office Building in Charlotte, GA: 6500 SF class-A 2-yr-old medical office building in a booming (109% since 2000) and affluent (AHI $96K/yr) part of Charlotte. 100% NNN leased by 3 doctors with 8 yrs left. NOI $132K/yr. $1.56M. 8.48% cap. Recession resistant tenants.
8. Family Dollar Store in Orlando, FL: 9200 SF single-tenant retail building on 1.38 acres lot in a fast growth (54%) and strong income area. 10 yrs NNN lease. NOI $152K/yr with rent increase. $1.738M. 8.75% cap. Recession resistant tenant.
9. Walgreens in Schertz, TX: brand new 14,820 SF drug store on 1.98 acres lot across from Target in San Antonio suburbs. 25 yrs NNN lease. NOI $327K/yr. $4.425M. 7.4% cap. Tax-free state. Recession resistant tenant with A+ S&P rating.
10. Medical Office building in Thornton, CO: 17,400 SF medical office building next to I-25 in stable Denver metro. 100% leased. NOI $142K/yr. $1.695M. 7.9% cap.
    
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