Tuesday, June 1, 2010

Top 6 Properties 05-18-10

  1. Office Max in Yorkville, IL: 17,998 SF Office Max built in 2007 in Chicago metro as part of a neighborhood shopping center anchored by Jewel-Osco grocery & Ace hardware. Excellent demographics with AHI over $91K/yr within 1 mile. 100% NNN till 2018.  NOI 305K/yr with rent bump in 2013.  $3.289M. 9.3% cap. 
  2. Strip Center in Johns Creek, GA: 6500 SF strip center on an outparcel to a shopping center anchored by Target, Home Depot & Office Max in one of the highest income areas in Atlanta (AHI $200K/yr within 1 mile).  100% NNN leased by 3 tenants: Starbucks, Shane’s Rib Shack and Waltons Orthodontics.  NOI $191K/yr with 10-20% rent bump in 2010.  $2.275M. 8.4% cap. 
  3. Applebee’s in Eagan, MN: franchised restaurant in an parcel in front of a shopping center anchored by Wal-mart, Kohl, and Office Depot just off I-35 in Saint Paul metro.  Long term NNN lease.  NOI $180K/yr.  $2.115M. 8.5% cap. 
  4. Apartments in Long Beach, CA: 14-unit well-maintained apartments.  97% occupied.  NOI $87K/yr. $1.09M. 8.03% cap. 
  5. Apartments in Durham, NC: 38-unit apartments in stable city.  Proforma NOI $92K/yr. $995K. 9.27% cap. 
  6. Advance Auto Parts in Houston, TX: 6127 SF auto parts store built in 2008 on a corner lot.  15 yrs NNN corp lease.  NOI $125K/yr. $1.518M. 8.25% cap.
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