Top 10 Properties of 11-05-09

1. Olive Garden Italian Restaurant in Port Orange, FL: brand new 7500 SF restaurant on 1.73 acres of land out-parcel to new regional power center in growing (47.07%) area near Fwy-95. Brand new 10-yrs absolute NNN corp ground lease with rental increases. NOI $ 134K/yr. $1.862M. 7.25% Cap. Buyer owns the land!
2. Retail Center in Largo, FL: 7480 SF 3-years old eye-catching retail center built in 2006 on .73 acre lot anchored by Chase at signalized entrance to a Publix Supermarkets anchored shopping center. Near Largo Medical Center. 100% NNN leased. NOI $198K/yr. $2.337M. 8.5% Cap.
3. Walgreen’s Pharmacy in Saint Charles, IL: 14,490 SF Walgreen’s Pharmacy built in 2002 on 1.90 acres of parcel at signalized intersection in wealthy (AHI $105K/yr. within 3-mile radius) Chicago suburbs. NNN leased with 17.5 years remaining on primary term. NOI $325K/yr. $4.062M. 8% Cap.
4. Starbucks Coffee in Columbus, GA: 2000 SF freestanding retail building constructed in 2008 on .92 acre pad across from Target Anchored Center off of Fwy-80. Unusual 15-years NNN corp lease with 10% rent increases every 5-years. No kickout clause. NOI $120K/yr. $1.5M. 8% Cap.
5. Oregano’s Restaurant in Mesa, AZ: 5798 SF well located restaurant on .49 acre lot in close proximity to Banner Desert Medical Center, Fiesta Mall and Mesa Community College near Fwy-60. New 15-years absolute NNN corp lease with 10% rent increases every 5-years. NOI $144K/yr. $1.605M. 9% Cap.
6. Jack in the Box Restaurant in Beaverton, OR: 2864 SF well maintained Jack in the Box retail building just west of Portland Oregon adjacent to Hwy-26. Long NNN corp lease. NOI $164K/yr. $2.270M. 7.25% Cap.
7. Strip Center in Houston, TX: 8100 SF strip center on .61 acre lot with excellent visibility. 75% NNN leased. NOI $102K/yr. $1.2M. 8.5% Cap.
8. Redfield Suites in Reno, NV: 32,000 SF Class-B two-stories office suites constructed in 2002 on 2.52 acres of land with attractive courtyard. Conveniently located near Convention Center, Airport and several casinos near I-395. 75% leased. $4M. 10% Cap.
9. Strip Center in Houston, TX: 17,775 SF shopping center built in 2005 on 1.78 acres of land. 100% leased to quality local/regional tenants. NOI $264K/yr. Price increased from $2.55M to $2.780M. 9.5% Cap.
10. Shopping Center in Orange Park, FL: 28,000 SF nice-looking strip center close to Orange Park Mall with easy access to I-295 in Jacksonville suburbs. Across the Street from Super Target, Home Depot and the 910,000 Square Foot, Orange Park Mall. 100% leased by a diverse tenant mix. NOI $296K/yr. Price reduced from $3.2M to $2.975M. 9.55% Cap.
    ▪ Upside potential: tenants paying 20% below market rent!
    
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