Top 7 Properties 05-12-10

Just thought you would be interested in this article: 20 Cities surviving the recession. 

1. Walgreens in Lubbock, TX: 15,120 SF drug store built in 2000 on 1.4 acres lot at the intersection of 2 8-lane roads.  Store with strong sales.  100% NNN lease.  NOI $332K/yr. $4.0333M. 8.25% cap. 
2. Walgreens in Atlanta, GA: 14,110 SF brand new drug store on 1.11 acres in an affluent Northern Atlanta with AHI over $101K/yr.  25 yrs NNN lease.  NOI $565K/yr. $7.685M. 7.35% cap. 
3. Apartments in Las Vegas, NV: 22-unit apartments on .35 acre lot in the upper middle class area with high AHI of $103K/yr.  Renovated in 2006. 100% occupied.  NOI $87K/yr. $1.14M. 7.7% cap.
4. Shopping Center in Tempe, AZ: 34,495 SF retail center on 2.98 acres lot in a middle-class area.  Great visibility.  92% leased.  NOI $391K/yr. $4.5M. 8.7% cap. 
5.  Strip Center in Cedar Rapids, IA: 11,520 SF strip center on 1.34 acres outparcel to Walmart supercenter.  80% NNN leased with 1 vacant unit.  Actual NOI $108K/yr. $1.45M. 7.48% cap. 
6. Apartments in Tallahassee, FL: 30-unit nicely-landscaped apartments on 2/3 acres lot.  Near Florida State Univ. & Tallahassee college.  100% occupied.  Gross revenue of $195K/yr. NOI $95K/yr. $1.333M. 7.5% cap. 
7. Apartments in Santa Barbara, CA: rare 10-unit apartments in an affluent coast town (AHI over $143K/yr within 1 mile).  97% occupied.  NOI $68K/yr.  Only $849K.  8% cap.  Location, location, location.

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