Best commercial retail of 10-01-08

AHI: Avg Household Income
NOI: Net Oper Income

1. Old Chicago restaurant in Green Bay, WI: 6700 SF franchised restaurant on a pad site to Bay Park Square Mall. 100% absolute NNN leased with corp guaranty till 2021. NOI $210K/yr. Price reduced to $2.33M. 9% cap.
2. Strip center in Highlands, CA: 4439 SF retail center built in 2004 on 2/3 ac corner parcel on an artery just off I-80 in Sacramento metro. 100% NNN leased by 3 good tenants: Quizno’s Sub, It’s a Grind Coffee, and Check Cashing. NOI $165K/yr with annual rent bumps. $2.2M. 7.5% cap.
3. Shopping strip in Racine, WI: 7000 SF retail strip on an out parcel to 2 power centers next to Regency Mall. 100% NNN leased. NOI $151K/yr. $2M. 7.58% cap.
   Rite Aid pharmacy in Salisbury, NC: 14,569 SF pharmacy on 1.5 acres lot in a prime commercial area just off I-85. New 20 yrs NNN lease with rent increase. NOI $255K/yr. $3.402M. 7.5% cap.
4. Johnny Carino’s Italian Grill in Denton, TX: 6166 SF restaurant built in 2001with I-35E frontage in a city North of Dallas. New 15 years absolute NNN lease with corp guaranty. NOI $220K/yr. $2.75M. 8% cap.
5. CVS Pharmacy in Plano, TX: 10,908 SF pharmacy on 1.55 acres lot in a booming (71% growth since 2000) and super high income Dallas suburb (AHI $178K/yr within 1 mile radius). 100% NNN leased. Store with sales in the top 2% of the chain. NOI $226K/yr. $3.12M. 7.25% cap.

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