Thursday, December 23, 2010

12-09: Shopping Centers, Medical Buildings For Sale

1.      Shopping Center in Duluth, GA: 18,820 SF shopping center built in 2004 on 1.8 acres corner lot in high-growth, high income area in North East Atlanta suburbs.  100% NNN leased.  NOI $315K/yr. $2.975M. 10.61% cap.
2.      Shopping Center in Covington, GA: 19,900 SF retail center built in 2009 on 2.14 acres parcel across from Wal-mart supercenter in Atlanta metro.  Anchored by Dollar Tree with 10 yrs lease.  Other tenants include: Citi Financial, AT&T, Subway, Shane’s rib Shack.  100% occupied.  NOI $320K/yr. $3.46M. 9.24% cap.
3.      Single tenant medical building in Port Charlotte, FL: 7134 SF 5-yrs old medical office building on 1.1 acres lot.  100% NNN lease with 9 yrs remaining.  NOI $124K/yr. $1.425M. 8.75% cap.
4.      Strip Mall in Norwalk, CA: 9946 SF strip center built in 1985 on .83 acres corner lot in a densely populated city in Los Angeles.  100% leased.  NOI $165K/yr. $2.49M. 6.4% cap.
5.      Medical Office Building in Downey, CA: 4810 SF class-A medical office building on .41 acres lot in upper middle class (AHI $92K/yr in 1 mile) in Los Angeles.  Main artery with easy access to I-5.  100% leased with 9 yrs remaining.  NOI $64K/yr. $750K.  8.63% cap.

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