Top 10 Properties of 11-11-09

1. Advance Auto in Jacksonville, FL: 7000 SF auto parts store built in 2007 on 1.44 acres parcel. 15 yrs NNN lease by a publicly traded recession insensitive company. NOI $123K with rare 10% rent increase in year 10. $1.55M. 7.94% cap.
2. Medical office building in Lawrenceville, GA: 5900 SF medical office building in high-income, fast growth Atlanta suburbs. 100% leased. NOI not avail. $1.165M.
3. Big O Tires in Mesa, AZ: 7350 SF brand new retail building on 1 acre lot just off Fwy 60 with 162K vehicles per day. 10 yrs NNN lease with guaranty from Goodyear Tire & Rubber Co and additional personal guarantee from Big O Tires. NOI $216K/yr. $2.54M. 8.5% cap.
4. KFC in Monroe, LA: 2492 SF restaurant remodeled in 2009. New 20 yrs absolute NNN lease from an operator with 24 units. NOI $76K/yr. with 1.75% annual rent bump. $922K. 8.25% cap.
5. Charlie Browns Steakhouse in Clementon, NJ: 10,530 SF franchised restaurant on 2.64 acres lot in Philadelphia suburbs with 185+ parking spaces. Great location with high 4 out of 5 stars customers reviews. 20 yrs NNN leased till 2020. NOI $170K/yr. Price reduced to sell at $1.799M. 9.45% cap.
6. Hardee’s restaurant in McDonough, GA: 2700 SF new franchised fast-food restaurant on 2/3 acre lot just off I-75 exit in Atlanta metro. New 20 yrs absolute NNN lease from an operator with 140 locations. NOI $126K/yr with high 12% rent bump every 5 yrs. $1.68M. 7.5% cap.
7. Sprouts Supermarket in Glendale, AZ: 30,600 SF chained supermarket as an anchored tenant in a 62,236 SF shopping center at an intersection of 2 major arteries in a high income Phoenix metro. Fully remodeled in 2004. Long term absolute NNN lease from one of the nation's fastest growing retailers with 38 stores in Arizona, California, Texas and Colorado. NOI $509K/yr. $5.861M. 8.7% cap.
8. Shopping Center l in Pearland, TX: 10,400 SF strip center built in 2006 on 1 ac outparcel to Wal-mart Supercenter in Houston suburbs. 92% NNN leased by 4 National Credit Tenants Payless Shoes, Verizon, Sally Beauty, CATO Fashion. Actual NOI $183K/yr. Price reduced to $1.95M. 9% cap.
9. Walgreens in Denver, CO: 13,905 SF drug store built in 1996 on 4 acres corner lot. 20 yrs NNN leased till 2016. NOI $278K/yr. $3.476M. 8% cap.
10. Jiffy Lube in Henderson, NV: 2002 SF Jiffy Lube on ½ acre lot in a fast growing and affluent (AHI $109K/yr) Las Vegas metro. Long term NNN lease. NOI $66K/yr. 950K. 7% cap.
    
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