Top 10 Properties Among 297 12-21-09

1. Apartments in San Jose, CA: 16-unit apartments on 1/3 ac lot with easy access to Hwy 101 & 280/680. 100% occupied. Gross rent of $164K/yr. $1.895M.
2. Rite Aid in Mansfield, MA: 13,397 SF drug store in Boston suburbs with rare 3 points of access from 3 different roads. New 20 yrs absolute NNN lease. NOI $247K/yr with 10% rent bump after 10 yrs. $3.034M. 8.15% cap. Seller financing available.
3. Tuffy Auto in Omaha, NE: 3900 SF auto service center built in 2007 on a pad to newly constructed Super Target, OfficeMax, Hobby Lobby & Sports Authority and across the Street from Walmart Supercenter. Wealthy area with AHI over $109K/yr. New 20 yrs corp absolute NNN lease. NOI $111K/yr. with 7.3% rent bump in 2012. $1.369M. 8.11% cap.
4. Valero Gas station in Riverside, CA: 2200 SF gas station with minimart and leased smog station at the intersection of 2 major roads. Just blocks from Riverside City College and Riverside Community Hospital. Gas volume average is 78k gallons/month and gross minimart sales of $14k/month. Smog station rental income of $2,650/month. $1.35M.
5. Apartments in Watsonville, CA: 11 3-br 2ba 2-car 1,245 SF unit condos on 11 separate parcels with no HOA fees. Built in 2007, Bank owned. 100% occupied with gross rent of $239K/yr. $2M.
6. CVS in Rockland, MA: 10,125 SF drugstore built in 1997 at a signalized corner in south Boston metro. 100% NN leased. Store with very high sales revenue of over $1000/SF (highly profitable; tenant is very highly likely to renew lease). NOI $203K/yr. $2.405M. 8.45% cap.
7. Jiffy Lube in Phoenix, AZ: 2300 SF Jiffy Lube on ½ ac lot in a master-planned community in southern Phoenix. New 15 yrs absolute NNN from an franchisee with 60 locations. NOI $96K/yr. with up to 10% rent bump every 5 yrs. $1.1M. 8.72% cap.
8. Apartments in South San Francisco, CA: 7 2-br 1ba 1 car unit apartments complex in high income San Mateo county (AHI over $100K/yr within 1 mile ring). 100% occupied. Gross rent of $106K/yr. NOI $81K/yr. $1.079M. 7.55% cap.
9. Sizzler restaurant in Norco, CA: 7540 SF restaurant on 1.2 acres lot in a prime commercial area in a growing a high income area. 100% leased. Proven location since 1988. NOI $144K/yr. $2.133M. 6.75% cap.
10. Buffalo Wild Wing in Brandon, FL: 6600 SF franchised restaurant (NASDAG: BWLD) on 2 acres parcel near 974,000 SF Westfield Brandon Mall just off I-75 exit. 20 yrs absolute NNN with 15 yrs remaining from an franchisee with 16 locations. NOI $250K/yr with 10% rent bump every 5 yrs. $3.124M. 8% cap.
    
    Sales Activities:

1. Taco Bell in Chandler, AZ: $1.76M. 9% cap. In contract.
2. Starbucks in Richmond, VA: $1.538M. 7.5% cap. In contract.
3. KFC in Sebring, FL: $871K. 9.25% cap. In contract.
4. Macaroni Grill in Burlington, MA: $3.35M. 8% cap. In contract.
5. Retail building in Milpitas, CA: $1.099M, vacant. In contract.
6. Apartments in Sunnyvale, CA: 6 units, $920K. In contract.
7. Applebee’s in Chesapeake, VA: $2.22M. 8.5% cap. In contract.

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