Best Retail Properties 11-21-08

1. Rare KFC restaurant in Santa Monica, CA: 1370 SF restaurant on 1/3 acre lot in a densely populated wealthy (AHI $143K/yr) coastal city with over 530K resident within 5 miles radius. Minutes from the ocean. 100% NNN leased till 2015. NOI $53K/year with minimum 10% rent increase in Jan 2010. $1M. 5.28% cap.
2. Jack In the Box in San Diego, CA: 1349 SF restaurant on 1/3 ac lot. 100% NNN leased till 2018. NOI $72K/yr. with rent bump every 5 yrs. Buyer may assume $549K loan at low 6% interest due in 11 yrs. $1.166M. 6.25% cap.
3. Shopping center in Rancho Cucamonga, CA: 20,516 SF retail center on over 2 acres lot in boom town (46% growth since 2000) city in Inland Umpire. Anchored by Big Five Sports. Part of a larger shopping complex anchored by Targets, Michaels, Ross, Bally’s Fitness. 95% NNN leased by 9 tenants with just one small vacant unit. NOI $472K/yr. $6.95M. 6.8% cap.
4. Medical office building in Folsom, CA: 8000 SF 10-yr old medical building in a booming (78% growth since 2000) & middle class (AHI $103K/yr) Sacramento suburb. 100% leased. Tenants include doctors in Family practice, Sports medicine, Maternity, Dermatology, Laser surgery and Laser Cosmetics. NOI $167K/yr. $2.775M. 7% cap.
5. La Petite Academy in Chandler, AZ: 10,000 SF brand new childcare center in an explosive growth area (418% since 2000). 15 yrs NNN leased by a national day care center tenant. NOI $260K/yr. $3.448M. 7.54% cap.
6. Shell Gas Station in San Francisco, CA: Shell service station on .6 ac parcel on Mission Street. $4.8M.
7. Ashley Furniture in Jacksonville, FL: 45,000 SF furniture show room built in 2005 as part of a 150-retailer center anchored by Dillard’s, Target, Barnes & Noble, Petsmart, and Staples. 100% NNN lease with corp guaranty. NOI $679K/yr with 10% rent bump every 5 yrs. $7.761M. 8.75% cap.
   
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