Top 6 Properties 12-03-09

1. Apartments in Sacramento, CA: 17-unit apartments on 1/3 ac lot in one of most desirable part of the city. 95% occupied. Gross income of $148K/yr. $1.148M.
2. Pep Boys Auto Center in Albuquerque, NM: 17,925 SF auto service center on 1.32 acres lot with easy access to I-25. New 15 yrs absolute NNN lease with Pep Boys Corporate Guarantee (NYSE: PBY). NOI $195K/yr with 1.5% annual rent bump. $2.698M. 7.25% cap.
3. Shopping center in Fort Meyers, FL: 16,259 SF 7-unit retail center in a growing and high income area (AHI $94K/yr). 85% leased with 1 vacant unit. NOI not avail. $3.5M.
4. Urgent care center in Fort Worth, TX: 5575 SF single-tenant urgent medical care center on .9 acre lot with easy access to Loop 820. Long term NNN lease from CareNow with 22 urgent care centers in Dallas metro.NOI $221K/yr with 8% rent bump every 5 yrs. $2.775M. 8% cap.
5. Dennys restaurant in Palmdale, CA: 4149 SF casual restaurant on 2/3 acre outparcel to Lowe’s and Wal-mart supercenter. 100% absolute NNN lease till 2027. NOI in July 2010 is $155K/yr. $1.97M. 7.88% cap.
6. Apartments in Los Angeles, CA: 11-unit apartments complex on ¼ acre lot in a quire cul-de-sac in a high-income (AHI over $79K/yr) and densely-populated area with over 1.15M residents within 5 miles ring. 100% occupied. Gross income $109K/yr. $935K.
   
   
   Sales activities:
   1. Shopping center in Oakwood, GA: close escrow.
   2. Burger King in Pearland, TX: close escrow.
   3. Apartments in West Sacramento: close escrow.
   4. Strip center in Salina, KS: $1.1M. in contract.
   5. Apartments in San Leandro, CA: $1.3M. in contract.
   6. Apartments in Charlotte, NC: $1.2M. In contract.
   7. Jack In the Box in Albuquerque, NM: $2.07M. in contract.
   8. Self storage facility in Victorville, CA: in contract.
   9. Walgreens in Macclenny, FL: $3.76M. In contract.
   10. Pep Boys in Dallas, TX: 2.115M. in contract.
   11. Apartments in Valley Village, CA: $1.1M. in contract.

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