Wednesday, July 14, 2010

Top 7 Properties of 06-30-10

  1. Goodyear Tire & Auto Service in Sugarland, TX: 7568 SF single-tenant retail property built in 2003 on 1.4 acres in affluent suburban Houston (AHI $117K/yr).  200% NNN lease with 8 yrs remaining by a successful operator.  NOI $151K/yr with 10% rent bump every 5 yrs.  $1.825M. 8.32% cap. 
  2. Shopping Center in Chicago, IL: 17,974 SF retail center on 1.47 acres lot.  Tenants include Sprint, City of Chicago, Rent-A-Center, and Little Caesar’s.  NOI $235K/yr. $2.14M. 11% cap. 
  3. Shopping Plaza in Riverside, CA: 95,068 SF22-unit  shopping center on 6.79 acres lot anchored by DD Discounts and Aaron’s Furniture. 96% NNN leased.  NOI $1.226M. $14M. 8.75% cap.  Just $147/SF in CA! 
  4. Apartments in Dallas, TX: 151-unit apartments built in 1985 on 5.13 acres lot.  Original built as condos.  NOI $553K/yr. $5.5M.  9.07% cap. 
  5. Walgreens in Louisville, CO: 13,883 SF drug store on 1.32 acres lot as part of a shopping center anchored by Safeway Supermarket in high income Denver metro (AHI $96K/yr). 100% NN lease with 13 yrs remaining.  Tenant has been at this location for 27 yrs.  Substantially below market rent.  NOI $115K/yr which includes rare $32K/yr in percentage rent.  $1.05M. 10.96% cap.  Lowest price Walgreens! 
  6. Retail Center in Crystal Lake, IL: 7738 SF strip mall built in 2009 directly across 325,000 SF shopping center anchored by Best Buy, Sam's Club in Chicago metro.  100% NNN leased.  NOI $226K/yr. $2.42M. 9.36% cap. 
  7. Shopping Center in Orland Park, IL: 10,800 SF shopping center on a major artery in high income Chicago suburbs.  100% NNN leased by 6 local tenants.  NOI $155K/yr. $1.525M. 10.22% cap.
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