Top 9 Properties 11-23-09

1. Tuffy Auto in Omaha, NE: 3900 SF auto service center built in 2007 on pad to Super Target, OfficeMax, Hobby Lobby & Sports Authority and across the Street from Wal-mart Supercenter. Excellent demographics: fast growth (129% since 2000) and affluent (AHI $109K/yr). 20 yrs lease by a corp with 400 locations in 20 states. NOI $111K/yr. with 7.3% rent bump in 2013. $1.369M. 8.15% cap.
2. Arby’s restaurant in Peoria, AZ: 3100 SF fast food restaurant built in 2001 on ¾ acre pad site to a Home Depot and Sears with high drive-by visibility and traffic counts in Phoenix metro. 100% NNN corp lease with 12 yrs remaining. NOI $131K/yr. $1.749M. 7.5% cap.
3. Staples in Phoenix, AZ: 20,390 SF 2-yr old single tenant retail building on 2.3 acres lot as part of 324,299-square foot South Mountain Pavilion Shopping Center on 36.4 acre center anchored by a 139,410-square foot Lowe's Home Improvement. 10 yrs NNN lease with 9 yrs remaining. NOI $305K/yr. $3.825M. 8% cap.
4. Checkers Drive-in restaurant in Portage, IN: 878 SF brand new Checkers Drive-in on 2/3 ac lot next to Wal-Mart, Lowe's, Sears, IMAX, K-Mart in Chicago metro. New 20 yrs absolute NNN lease by a seasoned franchisee with over 100 locations. NOI $121K/yr with 16% rent bump in 6-th year.
5. Microtel Inn & Suites in Morgan Hill, CA: 60-unit Inn built in 1999 on 1 ac lot just off Hwy 101 in a wealthy town with AHI over $129K/yr. asking $3.295M (below replacement cost of $5.3M). Seller will carry 1st loan at 7% interest.
6. Shopping center in Duluth, GA: 45,885 SF shopping center on 4.59 acres lot just off I-85 in Atlanta metro. Anchored by Petsmart. 100% leased. NOI $444K/yr. $5.55M. 8% cap.
7. Chinese Buffet restaurant in Scottsdale, AZ: 5732 SF restaurant on a major artery near 1,222,000 SF Paradise Valley Mall. 100% leased. NOI $111K/yr. $1.017M. 11% cap.
8. Shopping center in Hickory, NC: 70,756 SF shopping center built in 1995 on 10 acres of land in a stable city. Anchored by Fresh Air Galaxy Foods. 100% leased. NOI $478K/yr. $4.89M. 9.78% cap.
9. Taco Bell restaurant in Glendale, AZ: 2600 SF 10-yr old restaurant on a major artery in Phoenix metro. 100% NNN lease with 10 yrs remaining by a franchisee with 40 stores. NOI $92K/yr. $1.195M. 7.7% cap.
   
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