Top 7 Properties 06-21-10

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. Kragen Auto Parts in Pittsburg, CA: 8000 SF single-tenant retail building constructed in 1990 at busy signalized intersection near Hwy-4. 100% NNN leased by national tenant. NOI $110K/yr. $1.5M. 7.34% Cap.
2. Apartments in Greensboro, NC: 94-multifamily well-maintained 2-stories apartment complex on 5.65 acres of land just off of Hwy-29. 90% leased. NOI $295K/yr. $2.998M. 9.84% Cap.
3. Strip Center in Melrose Park, IL: brand new 6307 SF strip center anchored by Chipotle along main retail corridor near Gottlieb Memorial Hospital /Maywood Park Racetrack. 100% NNN leased. NOI $197K/yr. $2.388M. 8.25% Cap.
4. Shopping Center in San Antonio, TX: 46,554 SF attractive shopping center at corner location in close proximity to I-16 in fat growing (22.36%) middle-class (AHI $50K/yr) neighborhood. 100% NNN leased. NOI $416K/yr. $4.5M. 9.25% Cap.
5. Ryan’s Restaurant in Carrollton, GA: 10,553 SF free-standing restaurant on 2.56 acres of parcel along main thoroughfare in fast growing Atlanta metro. Long term absolute NNN corp lease. Annual rent increases. NOI $205K/yr. $2.050M. 10% Cap.
6. Apartments in Palmdale, CA: 38-units well-maintained townhomes constructed in 1985 on 1.98 acres of land with on-site laundry/pool at densely Los Angeles suburbs. 92% leased. NOI $204K/yr. $2.350M. 8.7% Cap.
7. Strip Center in Frisco, TX: 7265 SF recently constructed strip center with excellent tenant mix: Chicago Pizza Café, Cacique Jewelers and Von Anthony Salon in rapid growing (213.76%) affluent (AHI $121K/yr) Dallas metro 100% leased. NOI $213K/yr. $2.4M. 8.88% Cap.

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