Top 8 Properties 03-16-10

NOI: Net Oper Income—income after tax, insurance and maintenance expenses paid.
AHI: Avg. Household Income

1. Strip Center in High Point, NC: one-year old 6,400 SF strip center on .93 acre outparcel to Wal-Mart Supercenter at high-traffic location near I-85. 100% NNN leased. NOI $128K/yr. $1.578M. 8.17% Cap.
2. Retail Center in Roseville, CA: 4855 SF newly constructed retail center in a booming middle class Sacramento metro. On a main retail artery close to big-box retailers: Costco, Wal-Mart, Kohl’s, Target, Lowe’s Sam’s Club off of I-65. 100% NNN leased by Starbucks, JT’s Deli and India Oven. NOI $160K/yr. $2.011M. 8% Cap.
3. Shopping Center in Sacramento, CA: 22,425 SF attractive shopping center on 1.99 acres of land anchored by Kragen Auto Parts at high-traffic signalized intersection. 82% NNN leased. Proforma NOI $345K/yr. $3.730M. 9.27% Cap. Buyer to assume $2M loan at 6.43% interest rate.
4. Denny’s Restaurant in Palmdale, CA: 4149 SF nice-looking Denny’s Restaurant built in 2002 shadow-anchored by Lowes and Wal-Mart Supercenter in fast growing (14.72%) middle-class (AHI $65K/yr within 1-mile radius) area. 100% absolute NNN leased. NOI $138K/yr. $1.970M. 7.66% Cap.
5. Retail Center in Phoenix, AZ: 9141 SF retail center built in 2005 on over 1 acre lot adjacent to Walgreens on busy thoroughfare near Fwy-10. 86% NNN leased. Actual NOI $143K/yr. $1.640M. 8.75% Cap. Upside potential when fully occupied.
6. Strip Center in Phoenix, AZ: 4760 SF strip center constructed in 2005 at hard corner location with excellent visibility. 100% NNN leased. NOI $97K/yr. $1.010M. 9.64% Cap.
7. Retail Center in Gainesville, GA: 6597 SF attractive retail center on over 1 acre lot with excellent visibility close to Colonial Mall Lakeshore off of I-53. 82% NNN leased. Actual NOI $156K/yr. $1.5M. 10.40% Cap.
8. Shopping Center in Buford, GA: 20,844 SF recently constructed shopping center on 2.15 acres of land adjacent to Mall of Georgia. 81% NNN leased. Below replacement cost. NOI $298K/yr. $3.5M. 8.53% Cap.
   
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