Top 7 Properties 03-08-10

1. Walgreens in Palmdale, CA: 13650 SF brand new drugstore on over 1 acre corner lot in the high income part of Palmdale (AHI over $107K/yr). 25 yrs NNN lease. NOI $429K/yr. $5.96M. 7.2% cap.
2. Apartments in Birmingham, AL: 133-unit apartments complex just 2 short blocks from the University of Alabama. NOI $335K/yr. $4.1M. 8.19% cap.
3. Denny’s restaurant in San Diego, CA: 5220 SF restaurant on 1.73 acres just off I-5 exit. 100% NNN leased till 2017 with percentage rent clause. NOI $113K/yr. $1.5M. 7.58% cap.
4. Wal-mart Supercenter in Pueblo, CO: 202,847 SF supercenter built in 1998 on 21 acres lot. Surrounded by Sam's Club, Office Max, Big 5, Ross Dress for Less, Staples, Lowe's, Home Depot, Target, Cinemark Movie Theatre and more! 20 yrs absolute NNN lease with 8 yrs remaining. NOI $1.18M. No asking price.
5. Shopping Center in West Covina, CA: 26,213 SF retail center on 2.55 acres lot. 96% leased with below market rent. NOI $371K/yr. $5.2M. 7.14% cap. Less than $200/SF. Upside potential.
6. Power Center in Houston, TX: 165,957 SF shopping center built in 2006 on 14 acres lot in a fast growth and high income (AHI $78K/yr) area. Anchored by JCPenny and Ashley Furniture. Next o Walmart, Lowe’s and Home Depot. 98.4% leased with 1 small vacant unit. NOI $1.193M. $12.2M. 9.8% cap.
7. Shopping center in Lakeside, CA: 40,812 SF 15-unit shopping center built in 1984 on 3.45 acres lot in San Diego metro. Anchored by Rite Aid, Chase, and Kragen Auto Parts. Shadow anchored by Albertsons. 91% leased with 3 small vacant units. NOI $642K/yr. $8.035M. 8% cap. Less than $200/SF.
   
   © Transmercial 2010. All rights reserved.