Top 9 properties of 01-19-09

1. Retail center in Midlothian, VA: 8773 SF retail strip built in 2003 on 1.38 acres outparcel to a 120,000 SF neighborhood center anchored by Kroger supermarket in a wealthy (AHI $115K/yr)Richmond suburb. 100% NNN leased with good tenants: Starbucks, Quiznos, Edward Jones. NOI $199K/yr. $2.6M. 7.7% cap. Buyer to assume $1.78M loan at low 5.33% interest.
2. Office Building in Ann Arbor, MI: 20,453 SF class-A office building on 4.5 acres lot. 100% NNN leased by 2 US government agencies: Social Security Admin and the IRS. NOI $421KK. $4.95M. 8.5% cap.
3. Shopping Center in Mesa, AZ: 82,373 SF shopping center on 8.7 acres corner in an establish, high-income (AHI $98K/yr) area in Phoenix. 96% leased with below-market rent. NOI $606K/yr. $7.35M. 8.25% cap.
4. Econo Lodge at Atlanta Intl Airport, GA: 120 room motel on 2.35 acres parcel just off I-285/I-85 exit near Atlanta Intl Airport. NOI $302K/yr. $3.29M. 9.5% cap.
5. Comfort Suites in Castro Valley, CA: 54 room 4-story Comfort Inn built in 2001 near I-580. $5.695M.
6. Strip mall in Lake In The Hills, IL: 6600 SF 3-yr old strip center surrounded by Costco, Lowes, Walgreens, Sears in a high income (AHI $95K/yr) Chicago suburb. 100% NNN leased. NOI $213K/yr. $2.85M. 7.5% cap.
7. KFC restaurant in Atascadero, CA: 3292 SF KFC built in 1999 on almost 1 acre lot just off Hwy 101 exit. New 20 yrs absolute NNN lease by an experienced operator with 78 stores. NOI $60K/yr with 1.5% annual rent bump. Only $894K. 6.7% cap.
8. Walgreens in Atlanta, GA: 14,410 SF pharmacy in a very wealthy Northern Atlanta suburb with AHI of over $161K/yr with 1 mile radius. New 25 yrs NNN lease. NOI $463K/yr. $6.38M. 7.25% cap.
9. Dialysis Center, CA: 7000 SF dialysis center near I-405 in a densely populated Los Angeles metro with 850K residents within 5 miles radius. 100% absolute NNN leased till 2015 by Renal Advantage, Inc., 4-th largest Dialysis provider in the US. NOI $164K/yr. $2.25M. 7.5% cap.
   
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