Top 10 Properties 11-04--09

AHI: Avg Household Income
NOI: Net Oper Income

1. Brand name restaurants in Lawrenceville, GA: 3 restaurants -- Chili’s, Red Robin, and Macaroni Grill restaurants on 3 separate outparcels to a 356,000 SF regional open-air upscale lifestyle center in wealthy Atlanta suburbs. 10-15 NNN ground leases with 7-12 yrs remaining. (note: you buy the land but if tenant does not renew the lease, building is reverted to you) $1.5M each with 8%-8.6% cap.
2. Wendy’s in Kenosha, WI: 3500 SF restaurant in a stable city North of Chicago. 20 yrs NNN lease by the largest Wendy’s operator. NOI $112K/yr with 1.5% annual rent bump. $1.35M. 8.3% cap.
3. Shopping Center in North Port, FL: 37,476 SF shopping center in 2007 on 3.76 acres lot as part of 88-acre power center anchored by Super Wal-mart and Home Depot in a fast growing city. 90% NNN leased. Existing NOI $595K/yr. $7M. 8.5% cap.
4. Tuffy Auto in Omaha, NE: 3900 SF auto center built in 2007 on a pad to newly Constructed Super Target, OfficeMax, Hobby Lobby & Sports Authority and across the Street from Wal-mart Supercenter. Affluent area with AHI over $109K/yr. 20 yrs NNN lease with guaranty form a corp with over 400 locations in 20 states. NOI $111K/yr. $1.369M. 8.15% cap.
5. Shopping Center in Zephyrhills, FL: 46,967 SF shopping center built in 1990 on 7.32 acres corner lot. Anchored by Sweet Bay Supermarket. 89% leased. NOI $248K/yr. $2.56M. 9.71% cap.
6. Restaurant in Huntington Beach, CA: 5706 SF Sandbox Sports Grill restaurant in a highly desirable and wealthy coastal town with AHI over $115K/yr. 100% leased with strong personal guaranties. NOI $167K/yr. $2.426M. 6.9% cap.
7. Condos Complex in Sacramento, CA: 27-unit bank-owned condo complex on 2.39 acres parcel in a high income part of the city. Gross income of $292K/yr. $2.3M.
8. Apartments Complex in Garland, TX: 108-unit apartment complex with extensive renovation on 3.92 acres lot in Dallas metro. 90% occupied. NOI $327K/yr. $3.6M. 8.95% cap. Just over $33K/unit.
9. Advance Auto in Commerce City, CO: 7000 SF single-tenant retail center on 1.04 acres lot in Denver metro. 10 yrs NNN lease. NOI $133K/yr. $1.661M. 8% cap. Recession resistant tenant.
10. Apartments Complex in Dallas, TX: 432-unit 14 three-story building well-maintained apartments complex on 7.32 acres of land in SW Dallas. 90% occupied. Gross income of $2.4M. $9.5M. 9.47% cap.
    
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