Top 10 Properties 06-17-10

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. Shopping Center in San Antonio, TX: 37,800 SF shopping center constructed in 2002 on 2.24 acres of land across from North Star Mall close to I 410/281. 87% leased. NOI $462K/yr. $5.5M. 8.40% Cap.
2. Strip Center in Algonquin, IL: 16,500 well-maintained strip center on 1.29 acres of parcel at high traffic location in growing (21.29%) middle-class (AHI (86K/yr) Chicago suburbs. 100% NNN leased. NOI $166K/yr. $1.995M. 8.36% Cap.
3. Medical Office in Anderson, SC: 2972 SF Class-B single-tenant medical office situated along main corridor. Long NNN lease by a stable tenant currently operating over 150 locations nationwide. NOI $74K/yr. $851K. 8.75% Cap.
4. Retail Center in San Jose, CA: 7440 SF recently constructed retail center next door to Century 24 Movie Theater off of Hwy-280. 90% leased. NOI $299K/yr. $4.799M. 6.25% Cap.
5. Big O Tires in Surprise, AZ: 4845 SF free-standing retail building at hard corner along main retail corridor. New 15-years absolute NNN lease. NOI $179K/yr. $2.1M. 8.57% Cap.
6. Multifamily Building in Sunnyvale, CA: 6-units 2-stories apartment complex located in a nice neighborhood next to an elementary school close to Hwy-101/237. 100% leased. NOI $62K/yr. $888K. 7.09% Cap.
7. Office Building in Pittsburg, CA: 15,596 SF well-maintained office building constructed in 1980 on 1 acre lot with excellent tenant mix: Dental Lab, Contra Costa ARC, Orthodontist and Dentist. 86.5% leased. NOI $237K/yr. $2.65M. 8.97% Cap. Upside potential when fully leased.
8. Apartments in Palmdale, CA: 38-units attractive apartment complex with good unit mix as well as on-site laundry and pool. NOI $204K/yr. $2.350M. 8.7% Cap.
9. Strip Center in Lauderdale Lakes, FL: 17,916 SF well-maintained shopping center on 1.80 acres of land with excellent tenant mix: Rent-A-Center, Wireless Tech, Merit Pharmacy, Mary Jo’s off the chain and Mary Jo’s off the hook. 92% leased. NOI $162K/yr. $1,950M. 8.33% Cap.
10. Retail Center in Avon, IN: 21,060 SF attractive shopping center built in 1998 pm 2.37 acres of land with excellent visibility conveniently located along Hyw-36. 100% leased.  NOI $273K/yr. $2.875M. 9.5% Cap.

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