Top 10 Properties 07-30-10

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 Phoenix, AZ: 4760 SF attractive strip center constructed in 2005 at hard corner location. 100% NN leased. NOI $97K/yr. $1.010M. 9.64% Cap.
2. Family Dollar Store in Rosenberg, TX: 9340 SF recently constructed single-tenant retail building with excellent store sales along main corridor in fast growing Houston suburbs. Long NNN leased. NOI $87K/yr. $975K. 9% Cap.
3. Shopping Center in Spring, TX: 21,000 SF eye-catching shopping center on 2.50 acres of land with easy access to Hwy-249. 100% leased. NOI $226K/yr. $3.1M. 7.3% Cap.
4. Shopping Center in San Jose, CA: 39,649 SF neighborhood center on over 4 acres of land shadow-anchored by Save Mart Supermarkets  in affluent (AHI $123K/yr) neighborhood. NOI $983K/yr. $14.400M. 6.83% Cap.
5. Strip Center in Mesa, AZ: 14,875 SF well-maintained strip center across from Banner Desert Hospital with excellent tenant mix. 92% NNN leased. NOI $159K/yr. $1.590M. 10% Cap. Upside potential when fully leased.  
6. Retail Buildings in San Bernardino, CA: 20,200 SF retail building consisting of popular & trendy Elephant Bar Restaurant and retail center conveniently located between Costco and Sam’s Club near I-10. NOI $583K/yr. $8.350M. 7% Cap. Buyer to assume loan at 5.36% fixed non-recourse loan due in Aug 2015.
7. Retail Building in Schaumburg, IL: 7000 SF multi-tenant retail building close to K-Mart, Home Depot and Target in growing Chicago metro. 100% NNN leased by two national tenants: Starbucks and Verizon. NOI $207K/yr. $2.2M. 9% Cap.
8. Shopping Center in Coral Springs, FL: 13,025 SF recently painted shopping center along main corridor with good tenant mix. 100% leased. NOI $159K/yr. $1.999M. 8% Cap.
9. Steak ‘N’ Shake in Gainesville, FL: 3602 SF free-standing restaurant across from publics shadow-anchored by Target off of I-75. 100% NNN leased. NOI $110K/yr. $1.320M. 8.35% Cap.
10. Shopping Center in Houston, TX: 17,300 SF shopping center on 1.48 acre lot at main corridor with high traffic count. 100% NNN leased. NOI $176K/yr. $2.350M. 7.5% Cap.    

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