Top 8 Properties 06-03-10

1. Shopping Center in Brownsville, TX: 17,900 SF 5-yrs old 8-unit shopping center on 2.3 acres lot.  Shadow anchored by Walmart Supercenter.  84% leased by 7 tenants, mostly national/brand name.  Actual NOI $261K/yr. $3M. 8.7% cap.  Upside potential when the last unit is leased. 
2. Office Building in San Jose, CA: 32,337 SF office building on the heavily-travelled Blossom Hill road.  95% leased by 20 established tenants – 50% of them medical professionals.  NOI $608K/yr. $7.25M. 8.39% cap. 
3. Office Building in Haysville, KS: 9600 SF office building on .93 acres lot south of Wichita.  95% leased by Meritrust Credit Union, Dr Freeman Eye Care, and Haysville Family Medical Center. NOI $161K/yr. $1.295M.  12.5% cap. 
4. Pizza Hut in Los Banos, CA: 2352 SF restaurant on ¼ ac signalized corner lot in a growing town on hwy 152.  10 yrs NNN lease with 4 yrs remaining by an operator with 150 locations.  NOI $46K/yr. with 10% rent bump every 5 yrs.  Just $750K. 6.16% cap. 
5. Surgery Center in Wesley Chapel, FL: 10,676 SF class-A surgery center built in 2006on 1.63 acres lot close to I-75 in a booming (223% since 2000) middle class (AHI $81K/yr) Tampa metro.  100% NNN lease with 9 yrs remaining.  NOI $383K/yr. $4.781M. 8% cap. 
6. Peter Piper Pizza in Burleson, TX: 12,650 SF pizza restaurant built in 2008 on an outparcel to 70,000-Square Foot Retail Center Anchored by 14-Screen Stadium Style Theater South of Fort Worth.  Surrounded by National Retailers Including The Home Depot, Target, Walmart, Office Depot.  10 yrs NNN lease by Peter Piper Pizza with about 145 locations.  NOI $241K/yr. $2.76M. 8.75% cap. 
7. Auto Zone in De Pere, WI: 7370 SF auto parts store on .7 ac lot in Green Bay metro. 20 yrs NNN lease with 17.5 yrs remaining.  NOI $102K/yr. $1.36M. 7.5% cap. 
8. CVS Pharmacy in Smyrna, GA: 11,027 SF drug store built in 1997 on 2 acres corner lot in a fast growing (37% since 2000) upper middle class (AHI $91K/yr) Atlanta metro.  100% NNN leased till 2013.  NOI $213K/yr with rent bumped to $230K/yr in 2013.  $2.5M. 8.55% cap.  Store with increasing revenue even during the recession. 

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