Top 10 Properties 01-06-10

1. Apartments in Greenwood, IN: 438-unit apartments complex near Greenwood Park Mall in Indianapolis metro. 75% occupied. NOI $907K/yr. (proforma?). $8.25M. 11% cap. Less than $19K/unit!
2. Retail condo in Hayward, CA: 3000 SF retail condo in a 16,077 SF retail complex in front of 133,800 SF Target just off I-880. 100% NNN leased by T-Mobile. NOI $108K/yr. $1.542M. 7.5% cap.
3. Walgreens in Palmdale, CA: 13,650 SF brand new drug store on 1 acre lot at a signalized corner. High income Los Angeles city with AHI over $105K/yr. 100% NNN leased. $5.960M. 7.2% cap.
4. Restaurant in San Diego, CA: 2750 SF Mexican restaurant in a densely populated city. New long term NNN lease. Tenant has been at this location for 7 yrs. NOI $60K/yr. $750K. 8% cap.
5. Shopping Center in Charlotte, NC: 47,000 SF shopping center on 5 acres parcel. Anchored by Food Lion supermarkets, CVS Pharmacy, and US Postal Services. 100% NNN leased by 8 tenants. Both Food Lion and CVs have strong sales. NOI $351K/yr. $4.39M. 8% cap.
6. Office Building in Port Saint Lucie, FL: 6324 SF office building constructed in 2004 on 1 ac lot in a fast growing town. 100% leased by 6 tenants. NOI $89K/yr. $995K. 9% cap.
7. Long John Silver’s restaurant in Euless, TX: 2305 SF franchised restaurant on .4 acre parcel in Dallas metro. 20 yrs NNN lease by an operator with 119 restaurants. NOI $69K/yr. with 10% rent bump every 5 yrs. $870K. 8% cap. Great for 1st time investors.
8. Shopping Center in Yorba Linda, CA: 8000 SF inline strip mall in a center anchored by Stater Bros grocery, a regional supermarkets chain in Southern CA. Excellent demographics: growing & affluent city in Orange county with AHI over $115K/yr. 100% NNN leased by 6 stable tenants. NOI $209K/yr. $2.872M. 7.28% cap.
9. Apartments in Jersey City, NJ: 8 3-br brick apartments in a densely populated city with over 850K residents within 5 miles ring near NY City. 100% occupied. Gross revenue of $112K/yr. $800K.
10. Apartments in Hollywood, FL: 84-unit 28-building apartments on 2 acres lot. 85% occupied. NOI $219K/yr. $2.5M. 8.76% cap.
    
    Sales Activities:

1. Rite Aid in new London, CT: 9% cap. Closed escrow.
2. Shopping Plaza in Pasadena, TX: $3.275M. 76% leased. In contract.
3. Shopping center in Salina, KS: closed escrow.
4. Walgreens in Newport News, VA: $5.984M. 7.5% cap. in contract.
5. Del Taco restaurant in Layton, UT: 8% cap. Closed escrow.

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