Top 8 Properties 04-05-10

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

AHI: Avg. Household Income

1. Apartments in Richmond, CA: 16-unit bank-owned apartments complex with individual elec & gas meters in San Fran Bay Area.  $999K. 
2. Retail Office Complex in Clearwater, FL: 10,952 SF retail office complex on 1.39 acres lot in Tampa metro.  89% leased.  NOI $115K/yr. $1.35M. 9% cap.
3. Shopping center in Ellisville, MO: 16,325 SF shopping center on 1.08 acres lot in an affluent (AHI $122K/yr) St Louis suburb.  NOI $185K/yr. $2.1M. 8.83% cap.
4. Jack In The Box in fort Worth, TX: 2686 SF restaurant built in 2008 on .8 acres lot a fast growing and high income area.  20 yrs absolute corp NNN lease.  NOI $127K/yr with up to 8% rent bump every 5 yrs.  $1.825M. 7% cap.
5. Strip center in Indianapolis, IN: 12,840 SF strip center in good income area.  100% NNN leased by 6 tenants.  NOI $129K/yr. $1.29M. 10% cap.
6. Medical Office Building in Avondale, AZ: 6060 SF medical office condo built in 2007 in a booming Phoenix metro.  100% leased with 8 yrs remaining. NOI $136K/yr. $1.6M. 8.5% cap. 
7. Dollar General in Port Orange, FL: 9100 SF free-standing single-tenant retail building on 1.33 acres lot south of Daytona Beach.  15 yrs NNN corp  lease.  NOI $132K/yr.  $1.5M. 8.8% cap. Recession insensitive tenant.
8. Retail center in Anaheim, CA: 4817 SF retail building on a major artery in Orange county. 100% leased with 89K rent/yr (not clear if gross or NNN).  Only $999K.  This is s short sale.

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