Top 7 Properties 05-05-10

1. Shopping Center in La Vista, NE: 54,122 SF 5-buildings shopping center built in 2001 on 9 acres corner lot in fast growing middle-class Omaha suburb.  Property includes 4 single-tenant free-standing buildings: Taco Bell, Fazoli's, Long John Silver's and UNMC Physicians Clinic. 83% NNN leased. NOI $553K/yr. $6.65M. 8.33% cap.  Buyer to assume non-recourse loan with 6% down! 
2. Jack in the Box in Aurora, CO: 2771 SF new restaurant on .7 acres lot near I-70 exit in Denver metro. New 20 yrs absolute corp NNN lease.  NOI $166K/yr with rent bump every 5 yrs.  $2.38M. 7% cap. 
3. Shopping plaza in City of Industry, CA: 41,395 SF shopping plaza built in 1988 on 3.25 acres lot.  Shadow anchored by a grocery store.  NOI $1.069M. $13.5M. 7.9% cap. 
4. Retail center in Fountain Hills, AZ: 28,452 SF bank-owned retail center built in 2002 in an affluent Phoenix suburb with AHI $134K/yr.  Shadow anchored by Frys supermarket. 52% NNN leased with actual NOI $290K/yr. $3.879M. 7.5% cap.  Strong upside potential when 100% leased. 
5. O’Reilly auto in Joliet, IL: 9500 SF single-tenant auto parts store on 1.2 acres lot in Chicago metro.100% NNN leased.  NOI $208K/yr. $2.449M. 8.5% cap.
6. Dennys in Palmdale, CA: 4149 SF restaurant built in 2002 on 2/3 acres lot. 20 yrs NNN lease from 2007.  NOI $138K/yr with generous 12.5% rent bump every 5 yrs.  $1.97M. 7.66% cap. 
7. Walgreens in Daytona Beach, FL: 13,905 SF drug store on 1.56 acres corner lot. 20 yrs NN lease with 7 yrs remaining.  NOI $226K/yr. $2.585M. 8.75% cap.

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