Top 8 Properties 02-25-10

NOI: Net Oper Income
AHI: Avg. Household Income

1. Shopping center in League City, TX: 15,544 SF just renovated in 2009 retail center on 1.25 acres lot in a middle-class Houston suburb. NOI $117K/yr. $1.248M. 9.4% cap.
2. Shopping Plaza in Keller, TX: 63,864 SF 4-yrs old shopping plaza on 5.5 acres corner lot near I-35W in a high-growth (164%) Northern Dallas. 86% leased. Proforma NOI $1.121M. $12.5M. 8% cap.
3. Shopping Center in San Jose, CA: 13,771 SF retail center on 1.3 acres corner lot in a upper middle class area with AHI $115K/yr. 95% leased. NOI $248K/yr. $3.5M. 8% cap.
4. Retail center in Lithonia, GA: 12,200 SF retail center on 3.3 acres lot in an affluent Atlanta metro with AHI of $93K/yr. Excellent visibility. 100% leased. NOI $142K/yr. $1.742M. 8.15% cap.
5. Church’s Chicken in Midland, TX: 1350 SF restaurant on a corner lot. 15 yrs absolute NNN corp lease. NOI $72K/yr with 1.5% annual rent bump. $852K. 8.5% cap.
6. Shopping Center in Las Vegas, NV: 55,870 SF shopping center on 3.8 acres lot on the busy Las Vegas Blvd. Anchored by Super Marcado Del Pueblo. NOI $351K/yr. $3.8M. 9.25% cap.
7. Strip mall in Overland Park, FL: 11,905 SF well-maintained retail center on 2.5 acres lot in Fort Lauderdale area. 90% leased. NOI $193K/yr. $2.15M. 9% cap.
8. Rite Aid in Raleigh, NC: 10,908 SF drug store built in 2001 on 2.7 acres corner lot with 2 entry points. Fast growing (97%) middle class (AHI $71K/yr) area. 100% corp NNN lease till 2021. NOI $284K/yr. with rent increases in all 4 options. $2.647M. 10.75% cap.
   
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