Top 8 Properties 06-07-10

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. Pep Boys in Indio, CA: 19,338 SF single-tenant retail building on 1.58 acres of land conveniently located along Hwy-111 in the growing (38.98%) Palm Springs. Long absolute NNN corp lease with 1.5% annual rent increases. NOI $257K/yr. $3.222M. 8% Cap.
2. Arby’s Restaurant in Mishawaka, IN: 3592 SF Arby’s Restaurant at busy corner location along main retail corridor just East of South Bend. 15 years left on 20-years absolute NNN corp lease. 8% increases every 5-years. NOI $110K/yr. $1.421M. 7.75% Cap.
3. The Goddard School in Chantilly, VA: 10,000 SF single tenant day care facility built in 2003 on 1.29 acres of parcel in wealthy ($122K/yr within 5-miles radius) Washing DC suburbs. 100% NNN lease by a national childcare provider. NOI $240K/yr. with 2% annual rent increases $3.2M. 7.5% Cap.
4. Shopping Center in West Covina, CA: 11,400 SF shopping center shadow-anchored by Seafood City Supermarket with excellent tenant mix: Liquor Plus, Hair Salon, Dress Shop, Dental Office, Mananda Gifts, Restaurant, Nail Salon, Owtel Beyond, Inc, Check Cashing, and phone card stand. 100% NN leased. NOI $356K/yr. $5M. 7.13% Cap.
5. Retail Building in San Jose, CA: 7800 SF multiple tenant retail building on .46 acre lot along S 1^st Street. Leased by 3-tenants. NOI $68K/yr. $880K. 7.84% Cap.
6. Apartments in Los Angeles, CA: 8-units two-stories multifamily building with excellent unit mix just minutes from Santa Monica beach. NOI $55K/yr. $775K. 8.19% Cap.
7. Apartments in Hemet, CA: 140-units attractive apartments on over 6 acres of land with several amenities: swimming pool, whirlpool spa, electric central heating/air, ceiling fans, walk-in closets, dishwashers, electric stoves, oven, refrigerators, custom carpeting/blinds and balcony/patio. NOI $543K/yr. $7.4M. 7.34% Cap.
8. Medical Office in Desoto, TX: 5000 SF Class-B medical office next to Methodist Charlton Hospital & easy access to I-20 & Fwy 67 in Dallas metro. 100% NNN leased. NOI $104K/yr. $1.1M. 9.5% cap.

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