Thursday, August 26, 2010

08-12-10 - Medical Buildings - Rite Aid Pharmacy - Strip Mall - For sale

1.      Apartments in Sacramento, CA: 64-unit newly-renovated apartments on 1.9 acres lot across from 40,000-student American River College (biggest college in CA).  92% occupied.  NOI $278K/yr. $3.2M. 8.7% cap.
2.      Strip mall in Stanton, CA: 6716 SF strip center in a densely-populated strong income area with over 650K residents within 5 miles ring. 100% leased by 6 tenants plus cell antenna with below market rents.  NOI $86K/yr. $1.2M. 7.18% cap. Upside potential.
3.      Shopping center in Federal Way, WA: 18,190 SF multi-tenant retail center on 1.49 acres lot on a major artery in middle-class Seattle metro.  Excellent visibility.  100% leased.  NOI $297K/yr. $4.25M. 7% cap.
4.      Medical office building in Lawrenceville, GA: 5900 SF single-tenant medical office building in fast growing and high income Atlanta metro.  100% leased with 8 yrs remaining. NOI $124K/yr. $1.165M. 10.7% cap.
5.      Rite Aid in Concord, GA: 10,908 SF drugstore built in 2002 on an outparcel to Food Lion supermarket anchored shopping center in affluent (AHI $96K/yr within 1 mile ring) Charlotte suburbs.  100% NNN leased till 2022.  NOI $227K/yr.  $2.119M. 10.75% cap.
6.      Shopping Center in Renton, WA: 29,016 SF 12-unit shopping center on 2.2 acres lot in stable Seattle metro.  85% NNN leased.  NOI $575K/yr. $6.75M. 8.52% cap.

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