Top 6 Properties 07-08-10

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. Aartments in Los Angeles, CA: 20-unit apartments in a middle class (AHI $82K/yr) and densely-populated  area with over 1M residents within 5 miles ring South of Beverly Hills.  100% occupied.  NOI $125K/yr. $1.65M. 7.58% cap. 
2. Ryan’s Grill Buffet Restaurant in Martinsburg, WV: 10,991 SF Ryan’s Grill restaurant on 1.81 acres lot in a fast growing city.  Long term absolute NNN corp lease.  NOI $235K/yr with annual rent bump. $2.35M. 10% cap. 
3. Buffalo Wild Wings in Austin, TX: 6248 SF franchised restaurant on 1.23 acres lot  just off I-35 in a stable city.  New 15 yrs absolute NNN lease by the largest BBW franchisee.  NOI $226K/yr. $2.834M. 8% cap. 
4. Burger King in Bellflower, CA: 3600 SF restaurant with play ground on .84 acres lot in a middle class area.  New 20 yrs absolute NNN lease by an operator with 21 locations.  NOI $119K/yr. with 10% rent bump every 5 yrs.  $1.9M. 6.25% cap. 
5. Kindercare center in Moreno, CA: 7096 SF childcare center built in 1986 on 1.09 acres lot in a growing area.   100% NNN leased by a national childcare provider with 2 yrs remaining.  Tenant has been at this location since 1987.  NOI $138K/yr. $1.325M.  $1.325M. 10.45% cap. 
6. Business and Auto Care Center in Sun City, CA: 46,718 SF 3-building 31-unit retail/business and auto center built in 1999 on 4.2 acres corner lot in a fast growing city.  95% leased.  NOI $642K/yr.  8.51% cap.

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