07-20-10 - Goodyear - Walgreen's - Strip Mall - For sale

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. Bank-owned retail center in Glendale, AZ: 14,822 SF 3-yr old 2-building retail center on 2.33 acres lot near Loop 101 exit in a wealthy Phoenix metro (AHI $91K/yr).  Across street from Wal-mart.  76% NNN leased.  NOI not avail.  $2.36M. 
2. Apartments in Fresno, CA: 128-unit apartments on 2.97 acres of land in growing, strong income and good school district area. 80% occupied.  $4.295M.  Just over $33.5K/unit. 
3. Walgreens in Las Vegas, NV: 15,120 SF drug store built in 1999 on a corner lot in high income area.  100% NN lease till 2019.  NOI $405K/yr. $5.4M. 7.5% cap. 
4. Goodyear Tire Auto Center in Kyle, TX: 7260 SF Goodyear auto center built in 2006 on over 1 ac lot with I-35 frontage in a fast growing town 25 minutes NE of San Antonio.  100% NN corp lease with 6 yrs remaining.  NOI $172K/yr. $1.763M. 9.79% cap. 
5. Shopping Center in Omaha, NE: 64,373 SF class A retail center on 7.2 acres corner lot in fast growing & affluent area with AHI over $111K/yr.  95% NNN leased.  NOI $871K/yr. $9.95M. 8.75% cap. 
6. Strip Mall in Folsom, CA: 5900 SF strip center on 2/3 ac lot across from Target in growing and high income Sacramento suburbs (AHI $104K/yr).  100% NNN leased by 4 tenants. NOI $148K/yr. $1.771M. 8% cap.

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