Friday, August 6, 2010

Top 7 Properties 07-23-10

  1. Strip Center in Oakland, CA: 8440 SF two-stories mix-used building at busy intersection close to Hwy 580/880. 80% NNN leased. NOI $178K/yr. $2M. 8.9% Cap.
  2. Office Building in Norcross, GA: 12,000 SF Class-B all brick three-stories office buildings consisting of two buildings on .61 acre lot is fast growing Atlanta metro. 83% leased. NOI $67K/yr. $750K. 9% Cap.
  3. Pep Boys in Sacramento, CA: 22,341 SF free-standing retail building with excellent visibility close to I-80. Long absolute NNN corp lease with 1.5% annual rent increases. NOI $251K/yr. $3.354M. 7.5% Cap.
  4. Portillo’s Hot Dogs in Moreno Valley, CA: 7653 SF single-tenant retail building on 1.5 acres hard-corner outparcel to Winco Foods.  Across from Costco and near Moreno Valley Mall in a high growth city (52% since 2000). 100% NNN corp ground lease with 12 yrs remaining (you own the land and tenant owns the building.  If tenant does not renew the lease then you own both which is GREAT!) NOI $149K/yr. $2.222M. 6.75% Cap.
  5. CVS Pharmacy in Phoenix, AZ: 13,013 SF well-maintained single-tenant CVS Pharmacy at hard corner location in close proximity to I-17/10. Long NNN lease. NOI $150K/yr. $2.1M. 7% Cap.
  6. Walgreen’s Pharmacy in Burlington, NC: 14,550 SF newly constructed retail building on 1.75 acres of parcel at busy signalized corner location in fast growing Greensboro suburbs. 24-Hours Location. 100% absolute NNN lease. NOI $545K/yr. $7.364M. 7.4% Cap.
  7. Shopping Center in Colorado Springs, CO: 26,416 SF attractive shopping center on 2.81 acres of land with excellent established local/national tenant mix along main corridor. 95% NNN leased. NOI $328K/yr. $4.1M. 8% Cap.
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