Top 7 Properties 11-16-09

1. Retail Buildings in Salinas, CA: 2 retail buildings on .86 ac lot near Hwy 101. 90% occupied by 12 tenants. NOI $284K/yr, $3M. 9.5% cap.
2. Childcare center in Richmond, VA: 4950 SF childcare facility on 1.08 acres lot. 100% NNN leased by KinderCare Learning Centers, Inc, a national childcare provider. NOI $80K/yr. $804K. 10% cap.
3. Apartments in Sunland, CA: 12-unit 2 building apartments complex on 1/3 ac lot in strong income San Fernando valley. 100% occupied. Gross income of $107K/yr. $999K.
4. Medical Office Building in Lake Mary, FL: 10,744 SF 2-yr old class-A medical office building as part of 934,000 SF office park complex in an affluent Orlando suburbs with AHI over $102K/yr. 100% NNN leased by 3 good tenants. NOI $240K/yr. $3M. 8% cap.
5. Medical Office Building in Rialto, CA: 34,709 SF 2-story class-A medical office building constructed in 1993 on over 3 acres of land just off Hwy 210. 93% leased. NOI $413K/yr. $5.3M. 8% cap. Only $153/SF in CA!
6. Apartments in Garland, TX: 108 unit apartments complex with extensive renovation on 3.92 acres lot in Dallas metro. 90% occupied. Potential gross income over $937K/yr. Price reduced from $3.6M to $3.395M. Almost 9% cap. Just over $31K/unit!
7. El Fenix restaurant in Arlington, TX: 7278 SF Mexican restaurant built in 1993 on 1.25 acres lot just off I-20 exit in Dallas metro. 15 yrs absolute NNN lease with corp guaranty by a chain with over 15 locations in Dallas area. NOI $189K/yr. with 10% rent bump every 5 yrs. $2.1M. 9% cap.
   
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