Top 8 Properties 04-09-10

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

AHI: Avg. Household Income

1. Shopping Center in Waukesha, WI: 15,525 SF well built/maintained shopping center on 2.29 acres of land with good exposure in a well off (AHI $101K/yr) Milwaukee metro suburb near I-94.  80% Leased. NOI $216K/yr. $2.4M. 9% Cap.
2. Sullivan’s Steakhouse in Lincolnshire, IL: 9800 SF single-tenant retail building recently gone through a major/expensive renovated with good access to Route-45 in growing (45.67% growth increase) & affluent (AHI $153K/yr. within 1 mile radius) Chicago suburbs. 100% NNN corp lease. NOI $274K/yr. $3.220M. 8.54% Cap.
   • $2M renovation in 2008
3. Storage in Urbana, IL: 21,921 SF storage facility on 1.45 acres of land recently renovated with video system, security gates, alarm system and climate controlled. 93% Leased. $1.2M. 93% Proforma Cap.
4. Office Building in Neptune, NJ: 15,000 SF three-stories Class-B office building constructed in 2009 near Jersey Shore Medical Center. 90% Leased. High income area South of Newark. NOI $160K/yr. $1.8M. 9% Proforma Cap.
5. Apartments in Spring Valley, CA: 60-unit two-stories multifamily building on 2.59 acres of parcel with on-site laundry facilities, pool three barbecue areas and Basketball recreational area just minutes from San Diego downtown. 96% occupied. NOI $461K/yr. $6.595. 7% Cap.
6. Dennys in Gurnee, IL: 5542 SF family restaurant on 1.08 acres lot at the entrance of the 1,800,000 SF Gurnee Mills Mall in Chicago metro. New 20 yrs absolute NNN leased by the largest Dennys franchisee in the Midwest with 27 locations.  Store with strong sales.  NOI $150K/yr. $1.875M. 8% cap.
7. Shopping Center in Houston, TX: 16,864 SF attractive well-located shopping center built in 2001 on 1.56 acres of land near Hwy-6. 100% NNN leased. NOI $171K/yr. $2.4M. 8.50% Cap.   
8. Apartments in Addison, IL: 23-units well-situated apartment complex close to shopping centers/transportation in Chicago metro. 100% Leased. NOI $207K/yr. $2.180M. 9.5% Cap.
9. Office Building in Las Vegas, NV: 15,000 SF mature office building on .69 acre pad just minutes from strip. This is a sale/lease back. $2M. 10% Cap.   

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