Top 6 Properties 02-12-10

1. Retail center in Riverdale, UT: 5000 SF single-tenant retail enter on 2/3 acres outparcel to Home Depot just off I-84 exit North of Salt Lake City metro. Prime commercial area surrounded by Super Target, Wal-mart Supercenter, Sam's Club, PetSmart, Sportsman's Warehouse, Home Depot, Sports Authority, Dollar Tree, FYI Superstore, and Office Max. 10 yrs NNN lease by Wallpaper Warehouse Blinds & Paint, regional tenant with 6 locations. NOI $100K/yr. $1.053M. 9.5% cap.
2. Tire Kingdom in Orange Park, FL: 5760 SF automotive center built in 1994 in a good income Jacksonville suburb. 100% NNN leased by Tire Kingdom, a regional chain. NOI $98K/yr. $1.2M. 8.3% cap. Recession insensitive tenant.
3. Sonic Restaurant in Orem, UT: 1796 SF restaurant built in 2000 on over 1 acre lot in a good income and stable Salt Lake City metro. New 20 yrs absolute NNN lease from an operator with 27 locations. NOI $100K/yr. with 10% rent bump every 5 yrs. $1.26M. 8% cap.
4. Dollar General Store in Acworth, GA: 9375 SF retail center on 1.52 acres lot in a fast growing and high income Atlanta metro. New 10 yrs NNN corp lease. NOI $82K/yr. $1.052M. 7.8% cap. Recession resistant tenant.
5. Advance Auto Parts in Lawrenceville, GA: 7000 SF retail center on 1.61 acres lot in fast growing and high income (AHI $82K/yr) Atlanta suburbs. 15 yrs NNN corp lease with 12 yrs remaining. NOI $140K/yr. $1.792M. 7.8% cap.
6. Ryan’s Steakhouse in Hiram, GA: 10,136 SF restaurant on 1.82 acres lot in a heavily commercial area in fast growing Atlanta metro (62%). across the street from Wal-mart and adjacent to a large strip center anchored by Kroger supermarket and Kmart. Long term NNN lease by Ryan’s Steakhouse, a regional chain with restaurants in 23 states. NOI $193K/yr. $1.93M. 10% cap.
   
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