Thursday, June 10, 2010

Top 7 Properties 05-27-10

  1. Strip center in Grayslake, IL: 5500 SF strip mall at a signalized corner in a high income area (AHI over $100K/yr) 45 miles North of downtown Chicago.  100% NNN leased by 3 tenants: 7-11, Papa John pizza and a dry cleaner store.  NOI $104K/yr. $1.27M. 8.21% cap.  Great for first time investors. 
  2. Apartments in Long Beach, CA: 8-unit apartments built in 1987 in high income area.  95% occupied.  NOI $83K/yr. $1.19M. 7% cap. 
  3. Apartments in Phoenix, AZ: 44 all 2-br-unit apartments built in 2004 on 2.2 acres lot in strong income area.  850 square feet units with full-size washers and dryers, all-electric fully-equipped kitchens, ceiling fans, and walk-in closets. 68% occupied.  Proforma NOI $108K/yr. $1.35M. 8.07% cap. 
  4. Mr. Transmission in Parker, CO: 4230 SF franchised transmission service center built in 2002 on an outparcel to a new Super Target Center and across from Wal-mart supercenter.  Located in affluent Denver suburb (AHI over 104K/yr).  100% NNN leased till 2016 by Mr. Transmission franchise  (Mr. Transmission is a national chain with 200 service centers in 21 states). NOI $80K/yr with generous 4% annual rent bump.  $888K.  9% cap. 
  5. Retail Center in Glendale, AZ: 15,438 SF 3-unit retail center on 1.63 acres lots.  Anchored by 9043 SF Talecris Plasma Resources, a plasma collection center.  87%  lease with 1 vacant unit.  NOI $157K/yr. $1.41M. 11.19% cap.
  6.  Office Building in Dana Point, CA: 6206 SF office building built in 1999 in a wealthy coastal town in Orange county with AHI $144K/yr.  100% leased.  NOI $226K/yr. $2.9M. 7.8% cap. 
  7. Medical Office Building in San Jose, CA: 1230 SF free-standing medical office just behind the upscale Santana Row shopping center.  4 exam rooms and ADA compliant.  Ideal for owner/user.  $799K.
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