Top 10 Properties 06-16-10

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

AHI: Avg. Household Income

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses

1. Retail Building in San Francisco, CA: 13,971 SF attractive retail/office building renovated in 2006 across from Japan Town. 93% leased. NOI $190K/yr. $3.475M. 5.48% Cap.
2. Apartments in Sacramento, CA: 76-units multifamily building constructed in 1991 on 5.46 acres of land with good unit mix just minutes from Downtown near Fwy-80. NOI $448K/yr. $6M. 7.47% cap.
3. Apartments in Mesa, AZ: 35-units well-kept apartment complex across from Royal Palms Golf Course conveniently located near public transportation, shopping and freeways. 95% leased. NOI $144K/yr. $1.550M. 9.34% Proforma Cap.
4. Shopping Center in Reseda, CA: 19,822 SF mature shopping center on 1.41 acres of parcel anchored by Denny’s at signalized intersection along main thoroughfare. 100% NNN leased. NOI $433K/yr. $6M. 7.23% Cap.
5. Retail Center in Fort Myers, FL: 18,066 SF well-maintained retail center anchored by Pier 1 Imports adjacent to Walgreen’s Pharmacy. 93% NNN leased. NOI $341K/yr. $3.793M. 9% Cap.
6. Advance Auto Parts in Denham Springs, LA: 7000 SF 2-years old retail building on .74 acre lot along Hwy-16 surrounded by many national tenant: Walgreens, Dollar General, Popeye’s and more in fast growing Baton Rouge metro. Long NNN lease. NOI $99K/yr. $1.223M. 8.15% Cap.
7. Shopping Center in Seagoville, TX: 78,685 SF recently updated shopping center anchored by Brookshire’s Grocery Store off of US-175. 97% leased by excellent tenant mix. NOI $219K/yr. $2.6M. 8.45% Cap.
8. Borders in Tulsa, OK: 24,773 SF attractive free-standing retail building on over 3 acres of land in growing (6.54%) well-off (AHI $97K/yr within 1-mile radius) area. 100% absolute NNN leased by national tenant. NOI $432K/yr. $4.325M. 10% Cap.
9. Retail Building in Spokane, WA: 38,016 SF retail building constructed in 1999 anchored by Dollar Tree conveniently located between The Home Depot and Costco near I-90. Long term NNN leases. NOI $527K/yr. $7.271M. 7.25% Cap.
10. Apartments in Columbus, IN: 120-units well-maintained multifamily building built in 1994 with washer/dryer hook-ups in every unit, playground area located at quiet neighborhood. 97% leased. NOI $474K/yr. $5.650M. 8.4% Cap.   

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