Top 7 Properties 03-02-10

1. Shopping center in La Marque, TX: 175,535 SF 34-unit neighborhood center built in 1999 on 19 acres of land just off I-35 in a growing city Southeast of Houston. 95% leased. NOI $975K/yr. $8M. 12.18% cap.
2. Fitness Center in Bedford, TX: 40,000 SF fitness center built in 2000 on 3.2 acres lot next to freeway 121 in Dallas metro. 100% NNN corp leased by 24-Hr Fitness. NOI $662K/yr. $5.3M. 12.5% cap.
3. Shopping Center in Plainfield, IN: 50,400 SF 7-yrs old bank-owned shopping center on 5.78 acres lot as part of 580,000 SF power center anchored by Wal-mart, Target and Petsmart. Next to Metropolis Mall in the growing suburb of Indianapolis. 100% NNN leased by 10 tenants. NOI $610K/yr. $5.75M. 10.6% cap.
4. Office Building in The Woodlands, TX: 22,615 SF 2-story office building on 1.55 acres lot in a fast growing and affluent master-planned (AHI $107K/yr) suburban Houston. 97% leased. NOI $254K/yr. $3.1M. 8.2% cap.
5. Burger King in Durham, NC: 3000 SF fast food restaurant on 1.2 acres lot. 20 yrs absolute corp NNN lease. NOI $67K/yr. with 10% rent bump every 5 yrs. $1.03M. 6.5% cap.
6. Strip Mall in Henderson, NV: 7125 SF strip mall built in 2008 on a corner lot in a fast growth middle class Las Vegas suburb. 100% NNN leased by 7-11, Heidi's Brooklyn Deli, and Hertz Rent-a-car. NOI $217K/yr with strong rent increases. $3M. 7.27% cap. Buyer to assume $2.17M loan at low 5.5% fixed rate.
7. Apartments in Daly City, CA: 22-unit apartments in a high-income (AHI $98K/yr) densely-populated San Francisco metro. 100% occupied. NOI $224K/yr. $3.45M. 6.5% cap.
   
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