Top 8 Properties 06-14-10

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. Advance Auto Parts in Houston, TX: 6000 SF single-tenant recently constructed retail building on .66 acre lot at signalized intersection. Long NNN corp lease. NOI $125K/yr. $1.518M. 8.25% Cap.
2. Apartments in Portland, OR: 54-units two-story apartment complex built in 1969 with many recent extensive upgrades across from the TriMet Max Light Rail Station. 100% leased. NOI $270K/yr. $3.6M. 7.5% Cap.  
3. Church’s Chicken in Midland, TX: 1350 SF free-standing Church’s Chicken Restaurant conveniently positioned at main artery in fast growing area. 15-years absolute NNN corp lease. 1.5% annual rent increases. NOI $72K/yr. $852K. 8.5% Cap.
4. Shopping Center in Pasadena, TX: 163,992 SF well-kept shopping center on 13.23 acres of land across from Kroger anchored center with excellent tenant mix: Big Lots, Cato Fashion, Dollar Tree, Payless Shoe Source, Supercuts, Ace Cash Express and more. 96% leased. NOI $682K/yr. $7.450M. 9.16% Cap.
5. Staples in Woodbury, MN: 20,053 SF recently constructed Staples on over 2 acres of parcel shadow-anchored by Sam’s Club and Target in growing (34.42%) well-off (AHI ($101K/yr within 1 mile radius) Minneapolis suburbs off of I-94. Long term NNN leased. NOI $320
   K/yr. $4M. 8% Cap.
6. Office Building in Fullerton, CA: 13,950 SF Class-B office building at highly visible corner location in wealthy (AHI $105K/yr) neighborhood at densely populated Los Angeles area. 100% leased. NOI $237K/yr. $3.390M. 7% Cap.
7. Shopping Center in Oak Ridge, TN: 41,778 SF recently renovated shopping center on 4.72 acres of land anchored by Food Lion at signalized corner location with great visibility West of Knoxville suburbs. 97% leased. NOI $251K/yr. $2.770M. 9.08% Cap.  
8. Hardee’s in Independence, MO: 2863 SF attractive single-tenant retail building located at signalized intersection of Hwy-24. New 20-years absolute NNN lease. 10% increases every 5-years. NOI $77K/yr. $934K. 8.25% Cap.

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