Top 7 Properties 06-24-10

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 Orlando, FL: 52,381 SF recently renovated shopping center on 4.41 acres of land anchored by Winn Dixie with excellent visibility. 100% leased. NOI $516K/yr. $6.335M. 8.15% Cap.
2. Apartments in Van Nuys, CA: 24-units good-looking multifamily complex close to Woodley Ave Park/Woodley Lakes Golf Course off of Fwy-405. NOI $186K/yr. $2.275M. 8.21% Cap.
3. Medical Offices in Missouri City, TX: 9817 SF newly constructed medical offices on 1.26 acres of parcel with good tenant mix: Dental professionals, Orthodontist, General Dentist and Pediatric Dentist in fast growing (330.79%) well-off (93K/yr) Houston suburbs. 100% leased. 8% Cap. Price not disclosed.
4. Strip Center in Houston, TX: 9700 SF well-maintained multi-tenant strip center at signalized intersection with national tenants. 80% NNN leased. NOI $128K/yr. $1.350M. 9.5% Cap. (not certain if this is actual or proforma cap)
5. Apartments in Canoga Park, CA: 14-units 2-stories recently renovated multifamily building with great unit mix close to parks in densely Los Angeles city. 100% leased. NOI $132K/yr. $1.499M. 8.8% Cap.
6. Shopping Center in Phoenix, AZ: 19,692 SF attractive shopping center across from Fry’s along main corridor. 74% leased. NOI $220K/yr. $2.2M. 10% Cap.
7. Medical Office in Colorado Springs, CO: 13,471 SF Class-A medical office on 1.68 acres of land close to hospitals. 100% NNN leased. NOI $220K/yr. $2.750M. 8% Cap.

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