top 7 Properties 03-03-10

1. Jack In the Box in Palm Springs, CA: 2636 SF on 2/3 acres corner lot in a growing city. 100% NNN corp lease with 6 yrs remaining. NOI $134K/yr. with CPI-based rent increase. $2.121M. 6.35% cap.
2. Shopping Center in Simi Valley, CA: 13,853 SF inline retail center between Vons Supermarket and Rite Aid in a upper class city (AHI $99K/yr). 73% NNN leased by 5 tenants with 1 vacant space. Below market rent with upside potential. Proforma NOI $196K/yr. $2.8M. 7% cap.
3. Retail Center in Cincinnati, OH: 21,000 SF single-tenant retail building constructed in 1993 on 1.6 acres lot as part of a power center. 100% absolute NNN corp lease w/ 3.5 yrs remaining by hhgregg, Inc. (NYSE: HGG), a publicly owned and operated appliance and electronics retailer in the Midwest and Southeast with plans to open between 40 and 45 new stores in fiscal 2011. NOI $176K/yr. $1.55M. 11.39% cap.
4. Shopping Center in Allen, TX: 33,738 SF 17-unit shopping center built in 1997 on 5.59 acres corner lot just off hwy 75 exit in Dallas metro. Excellent demographics: high growth (95% since 2000), and high income AHI $124K/yr. 86% NNN leased with 4 small vacant spaces. NOI $537K. No asking price.
5. Shopping Center in Dallas, TX: 49,009 SF 19-unit 3 building shopping center built in 1999 on 8.26 acres corner lot just off Dallas Tollway in a growing and wealthy Dallas area with AHI over $108K/yr. 96% NNN leased with just 1 vacant unit. Actual NOI $1.104M. $12.5M. 8.83% cap.
6. Apartments in Irving, TX: 134-unit apartments in Dallas metro. NOI $365K/yr. $3.65M. 10% cap.
7. Italian Restaurant in Webster, TX: 7055 SF beautiful freestanding restaurant built in 1998 on 1.82 acres lot in Southern suburb of Houston. 15 yrs NNN corp lease by Zio’s, a regional restaurant chain with 15 locations in 5 states. NOI $260K/yr with 10% rent bump every 5 yrs. $2.736M. 9.5% cap.
   
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