Top 9 Properties 01-21-10

1. Apartments in Highlands, CA: 106-unit apartments complex on 3.56 acres lot in Sacramento metro. 80% occupied. Gross revenue of $948K/yr. $5.3M. short-sale.
2. Walgreens in Phoenix, AZ: brand new 14,832 SF drug store on 1.38 acres corner lot in well-off area (AHI 106K/yr within 1 mile radius) in Phoenix. New 25 yrs absolute NNN lease. NOI $560K/yr. $7.725M. 7.25% cap.
3. Apartments in Sacramento, CA: 26-unit apartments in strong income area within walking distance to hundreds of restaurants, shops and nightlife. 100% occupied. NOI $146K/yr. $1.95M. 7.5% cap.
4. Office building in Washington, DC: rare 6525 SF 4-story office building completely renovated in 2005. Conveniently located just 2 blocks from metro station and 1 mile from the National Mall/Capitol Hill. Amenities include kitchenettes, elevator service, a roof deck, and security cameras. 100% leased by a non-profit organization. NOI $193K/yr. $2.4M. 8.07% cap.
5. Apartments in San Diego, CA: 27-unit 3-story apartments built in 1987 in great central location with strong rental submarket & gated parking. Scheduled market rent of $249K/yr. $1.9M.
6. Office building in Visalia, CA: 9766 SF office building on ¾ ac lot. 100% occupied by County of Tulare Health & Human Services Agency since 1990. NOI $126K/yr. $1.4M. 9% cap.
7. Ryan’s Grill Buffet in Indianapolis, IN: 9601 SF restaurant on an outparcel to a shopping center anchored by Michaels, Hobby Lobby. New 20 yrs absolute NNN lease with guaranty by Buffet, Inc. NOI $188K/yr with 2% annual rent bump. $1.71M. 11% cap.
8. Carl Jr in Anaheim, CA: 2127 SF franchised restaurant with drive thru on .64 ac lot on a major artery near I-5. Area with high barrier for entry. Densely populated area with over 650K residents within 5 miles. 100% NNN ground lease with 2 yrs left and no options (Note: Investor buys the land and Improvements revert to landlord at end of lease if tenant does not sign a new lease.) Tenant has been at this location for nearly 40 yrs. NOI $80K/yr. $1.23M. 6.5% cap.
9. Davita Dialysis Center in Lakewood, CO: 14,055 SF single-tenant medical building in Denver metro. 100% NNN lease by a national tenant with 6 yrs remaining. NOI $275K/yr with 2% annual rent bump. $3.675M. 7.5% cap. Recession insensitive tenant.
   
   Sales Activities:

1. KFC in Monroe, LA: $922K, 8.25% cap. In contract.
2. Macaroni Grill restaurant in Burlington, MA: $3.35M 8% cap. In contract.
3. CVS in Kennesaw, GA: closed escrow.

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