Top 6 Properties 06-23-10

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 Saint Augustine, FL: 38,615 SF shopping center shadow-anchored by Winn-Dixie with excellent tenant mix: Family Dollar, The UPS Store, Domino’s Pizza, Advance America, Metro PCS, Jackson Hewitt and Curves along main thoroughfare. 93% leased. Upside potential when fully leased. NOI $432K/yr. $5M. 8.65% Cap. Buyer to assume $3.051M at below-market rate of 5.53%.  
2. Retail Center in Spring, TX: 12,600 SF attractive retail center built in 2004 conveniently located between Lowe’s and Home Depot with excellent visibility to I-45 in fast growing Houston metro. 100% NNN leased. NOI $268K/yr. $3.125M. 8.41% Cap.
3. Shopping Center in Mooresville, IN: 38,400 SF shopping center built in 2001 on 9.70 acres of land shadow-anchored by Marsh Supermarket with national/local tenants: Domino’s, Blockbuster, Hallmark, Liberty Tax Service, Great Clips, Check Into Cash, Lawyers Title and more in growing Indianapolis suburbs. 83% leased. NOI $624K/yr. $6.325M. 9.88% Cap. Upside Potential.
4. Apartments in Sacramento, CA: 14-units well-maintained multifamily building on .63 acre lot with many recent improvements at quiet neighborhood. NOI $83K/yr. $950K. 8.81% Cap.
5. Shopping Center in Tulsa, OK: 48,288 SF L-shaped shopping center on 4.97 acres of land in front of a new Wal-Mart Supercenter. 83% leased. NOI $480K/yr. $6.4M. 7.5% Cap.
6. Strip Center in San Bernardino, CA: 8608 SF well-kept strip center with plenty of parking spaces at corner location. NOI $133K/yr. $1.524M. 8% Cap.

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