Top 9 Properties 06-22-10

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. Rite Aid Pharmacy in Alpharetta, GA: 13,813 SF Rite Aid Pharmacy constructed in 2004 at hard corner location across from 80,000 SF Publix anchored center in fast growing (80.35%) wealthy (AHI $113K/yr within 1 mile radius) Atlanta metro. 100% NNN leased. NOI $308K/yr. $2.802M. 11% Cap.
2. Shopping Center in San Diego, CA: 32,494 SF beautiful shopping center on 3.80 acres of land anchored by McDonald’s/KFC conveniently located off of Fwy-805. 97% NNN leased. NOI $800K/yr. $9.9M. 8.09% Cap.
3. Retail Center in Coral Springs, FL: 13,025 SF well-maintained retail center on 1.25 acres of land along busy corridor. 100% leased. NOI $300K/yr. $3.785M. 8% Cap.
4. Strip Center in Jackson, TN: 10,850 SF attractive retail building outparcel to 500,000 SF shopping center anchored by Home Depot, Kohl’s, Best Buy, Ross, Hobby Lobby and Old Navy along Hwy-45/I-40. 100% NNN leased by national tenants: McAlister’s Deli, AT&T and Men’s Warehouse. NOI $243K/yr. $2.675M. 9.10% Cap.
5. Retail Building in El Centro, CA: 7985 SF retail building constructed in 2000 on .92 acre lot across from Costco/Lowe’s and Target along main traffic artery. 100% NNN leased by America’s Tire Company and US Army. NOI $175K/yr. $1.895M. 9.28% Cap.
6. Shopping Center in Queen Creek, AZ: 12,500 SF recently constructed shopping center near Wal-Mart anchored shopping center at hard corner location in booming Gilbert suburbs. 90% NNN leased. NOI $228K/yr. $2.425M. 9.42% Cap.
7. Family Dollar in Tampa, FL: 7800 SF recently renovated single-tenant retail building constructed in 1998 on .69 acre lot. Long NNN leased by national credit tenant. NOI $110K/yr. $1.4M. 7.88% Cap.
8. Retail Building in Chicago, IL: 5788 SF recently renovated multiple-tenant retail building anchored by Little Caesars at corner location with excellent visibility along main corridor. 100% NNN leased. NOI $145K/yr. $1.725M. 8.42% Cap.
9. Apartments in Palmdale, CA: 56-units two-story apartment building built in 1984 on 3.21 acres of parcel with excellent unit mix in densely populated Los Angeles area. 96% leased. NOI $299K/yr. $2.8M. 8.19% Cap.

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