Top 8 Properties 01-26-10

1. Davita Dialysis center in Huntington Park, CA: 7400 SF brand new single-tenant medical office building on ½ ac lot in a densely-populated city with over 1.16 million residents within 5 miles ring. 12 yrs NNN lease by DaVita (NYSE: DVA), largest provider of dialysis services in the US with $6.6 Billion market cap. Area with very high barrier to entry. NOI $280K/yr. with 10% rent bump every 5 yrs. $4M. 7% cap.
2. Apartments in Los Angeles, CA: 9-unit apartments near University of Southern CA campus. 100% occupied. Gross revenue over $100K/yr. Only $725K. 9% cap.
3. Wendys in Reading, PA: 2170 SF fast food restaurant with new 20 yrs NNN lease from an operator operating 114 locations. NOI $107K/yr with 10% rent bump every 5 yrs. $1.303M. 8.25% cap.
4. Office Building in Southlake, TX: 7056 SF class-A 3-yrs old office building on ½ ac lot as part of a 6-building office park in a very affluent city in Dallas metro (AHI of $193K/yr within 1 mile.) 100% NNN leased by 2 stable tenants: a dental office and Kumon learning center. NOI $121K/yr. $1.4M. 8.65% cap.
5. Walgreens in Austin, TX: 13,650 SF 6-yrs old pharmacy on over 2 acres corner parcel. 100% NNN lease with 19 yrs left. NOI 4404K/yr. $5.48M. 7.37% cap. Buyer to assume loan at below market rate of 5.56% interest. Taxes-free state!
6. Office/Retail Centers in Overland Park, CA: 136,318 SF 3-building retail/office centers in the Palm Beach metro with excellent visibility. NOI $1.189M. $11.89M. 10% cap. Bankruptcy sale.
7. Office Max in Leawood, KS: 14,000 SF retail center built in 2007 in a very affluent area in Kansas city metro with AHI over $136K/yr. Located at a major intersection facing Super Target, Wal-mart supercenter and Lowe’s. 10 yrs NNN corp lease. NOI $285K/yr. withrent bump every 5 yrs. $3.351M. 8.5% cap.
8. Retail center in Fort Collins, CO: 12,773 SF retail center built in 1999 as a part of a shopping center anchored by Rite Aid. 100% NNN leased by 5 tenants. NOI $232K/yr. $2.6M. 8.93% cap.
   
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