1. Starbucks in Arlington, TX: 1750 SF Starbucks built in 2006 on .52 ac lot at a hard corner in middle-class (AHI $70K/yr) Dallas metro. Outparcel to Tom Thumb Grocery (Safeway) anchored shopping center. 100% NNN- lease with 6.5 yrs remaining and no early termination. NOI $73K/yr with 10% rent bump in Nov 2011. $943K. 7.75% cap now and 8.5% cap in 2011.
2. Apartments in San Jose, CA: 9-unit well-maintained apartments within walking distance to San Jose State University. High income area. 100% occupied. Gross income $75K/yr. $825K.
3. Bank-owned Apartments in Oakland, CA: 96-unit apartments on 2.95 acres lot near Oakland zoo. 85% occupied. Proforma NOI $476K/yr. $3.9M. 12.22% Proforma cap. Just over $40K/unit.
4. Pep Boys Auto in Austin, TX: 22,279 SF auto parts and service center on 2 acres lot with easy access to Loop 360 and Hwy 71. 15 yrs absolute NNN lease by Pep Boys (NYSE: PBY with S&P B+ rating). NOI $230K/yr with 1.5% annual rent bump. $2.978M. 7.5% cap.
5. Starbucks in McDonough, GA: 1750 SF Starbucks coffee built in 2007 on an outparcel across from 700,000 SF power center anchored by Home Depot, Belk, Super Target, Bed Bath and Beyond, Ross Dress for Less in a upper middle class Atlanta metro. 10 yrs NNN- with 7 yrs remaining and no early termination. NOI $87K/yr. $1.031M. 8.5% cap.
6. Olive Garden in McDonough, GA: 7399 SF Italian restaurant built in 2007 on 1.82 acres outparcel across in a fast growing (64% since 2000) upper middle-class (AHI $84K/yr) Atlanta metro. 10 yrs NNN corp. ground lease with 6.5 yrs remaining from Daren Corp (NYSE : DRI with BBB S&P rating). Note: you are buying land as tenant owns the building. NOI $120K/yr with 10% rent bump every 5 yrs. $1.65M. 7.25% cap.
7. La Quinta Inn in Livermore, CA: lender-owned 58-room hotel built in 2005 on 2.73 acres parcel just off I-580 in wealthy area with AHI over $127K/yr. Amenities include with 2200 SF conference room and in-door swimming pool. $3.8M.
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