Top 9 Properties 04-26-10

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

AHI: Avg. Household Income

1. Apartments in Los Angeles, CA: 49-units multifamily apartment complex on 1 acre lot with many recent improvements and excellent unit mix. Close to Barnsdall Park, Kaiser Permanente, & Los Angeles City College. 100% leased. NOI $398K/yr. $4.975M. 8% Cap. Buyer to assume $3.346M at 6.35%
2. ICI Paints Retail Building in Goodyear, AZ: 9500 SF end-cap retail building at signalized intersection in fast growing (11.67%) middle-class (AHI $65K/yr within 5-miles radius) West of Phoenix about ½ mile from I-10. 100% NNN leased by national tenant currently operating more than 660 stores. 3% annual rent increases. NOI $135K/yr. $1.350M. 10% Cap.
3. McAlister’s Deli in Peoria, IL: 3426 SF single-tenant retail building constructed in 2008 shadow-anchored by Schnuck’s Grocery Store / Bed Bad & Beyond surrounded by many national tenants. 100% NNN leased by high net worth multi-unit franchisee. NOI $153K/yr. $1.530M. 10% Cap.
4. Starbucks in Pensacola, FL: 1859 SF free-standing Starbucks Coffee retail building outparcel to Kohl’s along main corridor. 100% NNN leased. NOI $118K/yr. $1.583M. 7.5% Cap.
5. Shopping Center in Pensacola, FL: 122,323 SF shopping center anchored by Big Lots & across from Wal-Mart Supercenter. 96% NNN leased. NOI $470K/yr. $5.175M. 9.10% Proforma Cap.
6. Apartments in Costa Mesa, CA: 6-units well-maintained two-story apartments in a wealthy area (AHI $126K/yr) near prestigious Newport Beach with many amenities: Garages, Patios/Balconies and on-site laundry. NOI $71K/yr. $1.195M. 6.12% Cap.
7. Starbucks Coffee/T-mobile in Atlanta, GA: 4400 SF single-tenant retail building across from Camp Creek Marketplace a 1.2M SF retail center off of I-285. 100% NNN corp leased by national tenants. NOI $195K/yr. $2.441M. 8% Cap.
8. Walgreen’s in Raleigh, NC: 14,469 SF Walgreen’s conveniently located at busy signalized intersection in fast growing area. Long NNN lease. NOI $339K/yr. $4.850M. 7% Cap.
9. Multifamily Property in Madera, CA: 14-untis recently remodeled multifamily complex off of Hwy-99. 100% leased. NOI $103K/yr. $1.150M. 9% Cap.    

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