Top 7 Properties 07-07-10

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. Sherwin Williams in Houston, TX: 6000 SF recently constructed single-tenant retail building adjacent to new strip center with excellent visibility to E. Beltway-8. New 10-year NNN lease by credit tenant. NOI $118K/yr. $1.688M. 7% Cap.
2. Schuck’s  (O’Reilly) Auto Supply in Grants Pass, OR: 7980 SF free-standing retail building constructed in 1998 on .68 acre lot conveniently located between Fred Meyer and Wal-Mart. Long NNN lease with rent increases. NOI $147K/yr. $1.740M. 8.45% Cap.
3. Shopping Center in Fort Mills, SC: 29,100 SF attractive hopping center on over 7 acres of land at signalized intersection with great visibility along Hwy-21 in fast growing (81%) and upper middle class (AHI $81K/yr) Charlotte metro. Next to proposed Walmart supercenter.  8.10% Cap. Price not disclosed.
4. Retail Building in Kyle, TX: 7260 SF Goodyear Tire & Rubber retail building constructed in 2006 located on IH-35 in fast growing Austin suburbs. 100% NNN leased by credit tenant. NOI $172K/yr. $1.763M. 9.79% Cap.
5. Strip Center in Carrolton, TX: 5396 SF strip center at excellent corner location with great visibility in Dallas metro. 100% NNN leased by professional/local tenants. NOI $83K/yr. $864K. 9.61% Cap.
6. Shopping Center in Saint Peters, MO: 54,605 SF well-maintained shopping center anchored by Dollar Tree in middle-class (AHI $70K/yr) St. Louis suburbs. Close to Mid Rivers Mall and I-70. 74% leased. NOI $258K/yr. $2.850M. 9.06% Cap.
7. Shopping Center in Lake Oswego, OR: 19,265 SF newly remodeled shopping center next to New Seasons Market shopping center in stable upper middle class (AHI $109K/yr) Portland metro. 92% NNN leased. NOI $271K/yr. $3.390M. 8% Cap. 

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