Top 8 Properties 01-12-10

1. Condos/apartments in Oakland, CA: 25-unit condos being rented as apartments with each building on a separate parcel. Near Oracle Arena and McAfee Coliseum. 87% occupied. Gross income of $258K/yr. NOI $139K/yr. $1.395M. 9.97% cap. Just over $55K/unit. Great buy.
2. Single-tenant Liquor Store in Fort Worth, TX: 10,320 SF single-tenant retail center on 1 ac lot in Dallas metro. New 20 yrs absolute NNN lease by Majestic Fine Wines and Spirits, a fast growing retail company with 49 locations in TX and $148M in sales. NOI $257K/yr. $2.855M. 9% cap.
3. Long John Silver’s Restaurant in Grand Prairie, TX: 2440 SF franchised restaurant on 2/3 ac parcel in Northern Dallas metro. 20 yrs NNN lease by an operator with 199 locations. NOI $76K/yr with 10% rent bump every 5 yrs. $950K. 8% cap.
4. Single tenant retail center in Sacramento, CA: 7515 SF single-tenant retail center built in 2007 on 2/3 acre lot. 100% NNN lease by Aaron Rent. NOI $108K/yr. with rent bump every 5 yrs. $1.4M. 7.71% cap.
5. Short-sale Apartments in Phoenix, AZ: 288-unit 24-building apartments complex on 9.4 acres near Metro Center Mall. 90% occupied. NOI $460K/yr. $6.5M. Just $22.5K/unit.
6. Arbys in Titusville, FL: 2960 SF franchised restaurant on ¾ acre lot next to Sears Town Mall. 10 yrs corp lease. NOI $108K/yr. with 8% rent bump every 5 yrs. Store with strong sales of over $1.25M/yr. $1.27M. 8.5% cap.
7. Goodwill store in Lancaster, CA: 11,311 SF Goodwill store on over 1 acre of land next to Hwy 14 in a growing city in Los Angeles county. 10 yrs NNN lease. NOI $196K/yr. $2.715M. 7.25% cap. Recession insensitive tenant.
8. Family Dollar in Arlington, TX: 9180 SF Family Dollar store built in 2005 on 1 acre lot in a stable Dallas metro. 100% NNN lease with 6 yrs remaining. NOI $76K/yr. $820K. 9.26% cap. Recession insensitive tenant.
   
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