Top 8 Properties 06-18-10

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. Strip Center in Memphis, TN: 6950 SF strip center built in 2007 at signalized corner location in densely populated area. 100% NNN leased by local/national tenants. NOI $91K/yr. $1.075M. 8.5% Cap.
2. Retail Center in Albany, OR: 16,187 SF newly constructed retail center on over 1 acre lot anchored by Petco across from Heritage Mall conveniently located along Hwy-99E. NOI $280K/yr. $3.375M. 8.31% Cap.
3. Mimi’s Café in Brandon, FL: 7045 SF eye-catching single-tenant retail building constructed in 2003 in close proximity to Westfield Mall. Long absolute NNN corp lease with increases every 5-years. NOI $219K/yr. $2.743M. 8% Cap.
4. Pep Boys in Austin, TX: 22,279 SF free-standing retail building on 1.99 acres of land off of Hwy-71. 100% absolute NNN corp lease. 1.5% annual rent increases. NOI $230K/yr. $2.978M. 7.75% Cap.
5. Retail Center in Green Bay, WI: 9518 SF Class-A retail center with excellent tenant mix: Cousins Subs, Run Away Shoes, The Little Gym an Enterprise Rent-A-Car off of I-41. NOI $174K/yr. $2.181M. 8% Cap.
6. Shopping Center in Rowlett, TX: 49,273 SF recently renovated shopping center on 5.52 acres of land anchored by Big Lots located at hard corner location in growing Dallas metro. 100% NNN leased. NOI $456K/yr. $4.420M. 10.32% Cap.
7. Neighborhood Center in Byram, MS: 69,054 SF well-maintained shopping center on 7.75 acres of land anchored by Vowell’s Marketplace along main retail corridor. 94% NNN leased. NOI $353K/yr. $3.1M. 11.41% Cap.
8. Family Dollar in Austin, TX: 9180 SF Family Dollar retail building constructed in 2005 on 1.53 acres of land in fast growing area. 100% NNN leased till 2016. NOI $75K/yr. $937K. 8% Cap.

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