Top 10 Properties 07-06-10

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. Taco Bell in Folsom, CA: 2300 SF single-tenant retail building across from Raley’s Supermarket anchored center at signalized intersection. New 15-years NNN lease by strong franchisee currently operating 36 restaurants. 10% rent increases every 5-years. NOI $87K/yr. $1.2M. 7.25% Cap.
2. Shopping Center in Aurora, CO: 57,800 SF recently remodeled shopping center on 5.65 acres of land with good tenant mix: Money Tree, Make Cleaners, Café, Latinas Salon, Jazzercise, Day Care and Tae Kwon Do at busy (CPD 60,000) intersection. 89% leased. NOI $388K/yr. $4.6M. 8.46% Cap.
3. Burger King in Tacoma, WA: 3723 SF Burger King restaurant built in 2002 with giant two store indoor play area out-parcel to K-Mart, Big-Lots and Safeway. Long NNN lease. NOI $139K/yr. $1.986M. 7% Cap.
4. Retail Center in Sacramento, CA: 11,810 SF retail center constructed in 2006 on 1.32 acres of parcel shadow-anchored by 24 Hours Fitness, Kohl’s and Walgreen’s along main retail corridor. 93% leased. NOI $342K/yr. $4.280M. 8% Cap. Buyer to assume $3,073,225 loan at 6.27% interest rate.
5. Office Building in Tempe, AZ: 24,195 SF Class-B multi-tenant office complex at hard corner location with excellent visibility. 100% leased. NOI $348K/yr. $3.664M. 9.5% Cap.
6. Shopping Center in Omaha, NE: 64,373 SF attractive shopping center on 7.20 acres of land across from new Hy-Vee Grocery anchored-center in fast (110.87%) growing well-off (AHI $111K/yr within 3-mile radius) neighborhood. 95% NNN leased. NOI $871K/yr. $9.950M. 8.75% Cap.
7. Retail Center in Las Vegas, NV: 6000 SF recently constructed multi-tenant retail center on .96 acre lot with strong tenant mix. 100% NNN leased. NOI $109K/yr. $1.099M. 10% Cap.
8. Shopping Center in Desert Hot Springs, CA: 17,200 SF shopping center at high traffic signalized intersection in growing Los Angeles suburbs. 100% leased. $2.1M. 9% Cap.
9. Retail Building in San Jose, CA: 5000 SF well-maintained retail building next to Citibank along busy corridor. 100% leased by 3-tenants: Vietnamese Dry Cleaners, Coffee Shop, and Hair Salon. NOI $50K/yr. $1.250M. 4% Cap.
10. Shopping Center in Gurnee, IL: 19,864 SF eye-catching shopping center conveniently located across Six Flags, Great America theme park. 100% leased. NOI $313K/yr. $2.890M. 10.85% Cap.

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