Friday, May 21, 2010

Top 7 Properties 05-07-10

  1. Retail center in Portland, OR: 23,192 SF 5-unit retail center built in 1999 on 1.65 acres lot in a middle class area.  50% occupied.  $1.893M.  Priced below replacement cost.  Strong upside potential when 100% leased. 
  2.  Travelodge Motel in Tacoma, WA: 79-room motel near I-5 exit, Tacoma Dome & Convention center.  Refurbished in 2008.  NOI $432K/yr. $4.1M. 10.56% cap. 
  3. Days Inn in Spokane, WA: 89-room motel on 1.37 acres lot in a prime location in upper middle class area with AHI $97K/yr within 1 mile.  Easy access to I-90.  Renovated in 2009.  Onsite restaurant.  NOI $307K/yr. $2.95M. 10.42% cap. 
  4. Apartments in Whittier, CA: 11-unit apartments quite and high income area.  100% occupied.  Gross income of $130K/yr. $1.499M. 
  5. Retail center in San Jose, CA: 7000 SF 4-tenant retail center built in 2007.  Anchored by Chase Bank.  NNN leases.  NOI $217K/yr. $3.1M. 7% cap. 
  6. Medical Office building in Pinellas Park, FL: 7088 SF single-tenant medical office building built in 2003 in Tampa metro.  100% NNN leased.  NOI $112K/yr. $1.25M. 9% cap. 
  7. Office Building in Santa Rosa, CA: 21,808 SF high-image class-A office building constructed in 1987 in high income area (AHI over $85K/yr).  100% leased. NOI $236K/yr. $3.095M. 7.65% cap.
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