Top 10 Properties 05-20-10

1. Neighborhood center in Southlake, TX: 41,914 SF 3-yrs-old 7-unit trophy shopping center on 9.74 acres parcel in an affluent city North of Dallas (median household income over $151K/yr within 1 mile).  Anchored by 27,572 SF Sprouts Farmers Market and Chase Bank.  NOI $979K/yr. $11.6M. 8.44% cap. 

2. Single tenant retail center in Franklin, TN: 9283 SF retail center at the entrance of 1+M SF Coolspring Galleria Mall just off I-65 in affluent suburbs of Nashville with AHI over $127K/yr.  100% NNN leased by Pier 1 Import with 6 yrs remaining.  NOI $150K/yr.  Store with increasing sales revenue even during recession.  $1.72M. 8.75% cap.  
3. Applebee’s Restaurant in Yuba City, CA: 6123 SF recently remodeled free-standing restaurant on 1.35 acres outparcel to a new power center anchored by Wal-Mart and Home Depot. Long NNN leased. NOI $193K/yr. $2.764M. 7% Cap.
4. Del Taco Restaurant in Yorba Linda, CA: 1800 SF attractive single-tenant retail building in growing affluent (AHI $126K/yr within 3-mile radius) suburb in Southern CA. 15-years NNN corp lease. NOI $81K/yr. with rent increases every 5-years $1.358M. 6% Cap.
5. Shopping Center in Fremont, CA: 34,811 SF well-established shopping center anchored by 24-Hours Fitness Center in high income Silicon Valley suburbs (AHI $105K/yr). 100% leased. Fitness tenant recently spent $375K upgrading the unit. NOI $ 527K/yr. $7M. 7.53% Cap.  Just over $200/SF
6. Burger King in La Crosse, WI: 4420 SF Burger King retail restaurant built in 1999 on 1.47 acres of parcel at signalized intersection along main corridor. 100% NNN leased with percentage rent clause. Store with strong revenue of over $1M/yr.  NOI $87K/yr. $1M. 8.71% Cap.
7. Taco Bell in Folsom, CA: 2300 SF eye-catching restaurant on .70 acre lot across from shopping center anchored by Raley’s Supermarket. 15-years NNN lease with 10% rent increases every 5-years. NOI $81K/yr. $1.2M. 6.75% Cap.
8. Apartments in Bradenton Beach, FL: 8-units luxury multifamily complex built in 2006 with bay to beach views and just walking distance to beach, shopping centers, restaurant and more. NOI $304K/yr. $3.800M. 8% Cap.
9. Multifamily Complex in Nashua, NH: 22-units apartment complex on over 1 acre lot located on the Massachusetts border. NOI $98K/yr. $1.225M. 8% Cap.
10. Strip Center in Lender, TX: 5987 SF recently constructed strip center shadow-anchored by Lowes with excellent tenant mix in fast growing (96.81%) North of Austin. 80% leased. NOI $149K/yr. $1.818. 8.23% Cap.  

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