Top 7 Retail Properties 04-24-09

1. Advance Auto Parts in Houston, TX: 7000 SF Advance Auto Part built in 2007 on ¾ acre lot. 15 yrs NNN lease with corp guaranty. NOI $127K/yr with 10% rent increase in year 11. $1.642M. 7.75% cap. Recession insensitive tenant.
2. Arby’s restaurant in Peoria, AZ: 3100 SF restaurant on .72 ac pad site to Home Deport & Sears just off Hwy 101 in Phoenix metro. 100% NNN leased till 2021 with corp guaranty. NOI $131K/yr with 1% annual rent bump. $1.749M. 7.5% cap.
3. Shopping Plaza in Oxnard, CA: 10,800 SF retail plaza completed in 1998 in a stable and strong income coastal town. NOI $237K/yr. $3.395M. 7% cap.
4. Shopping center in Orange, CA: 7500 SF well-maintained mature 6-unit strip center on ½ acres lot with easy access to hwy 55. 70% leased with just 1 vacant unit. Below market rents. Actual NOI $55K/yr. $1.35M. Only $180/SF! Upside potential.
5. Strip mall in Las Vegas, NV: 4110 SF strip center built in 2004 on ½ acre out parcel to a larger shopping center. 100% NNN leased by 3 tenants. NOI $128K/yr. $1.225M. 10.5% cap. Note: unusual high cap.
6. Starbucks Coffee in Tucson, AZ: 1750 SF new coffee shop on .82 acres parcel adjacent to I-10. 10 yrs NNN lease with no kickout clause. NOI $115K/yr. $1.396M. 8.25% cap.
7. Office building in Bentonville, AR: 31,240 SF single-tenant office building on 3.6 acres lot near Walmart/Sam’s Club Headquarters. Long term NNN with over 10 yrs remaining from a Fortune 500 company. NOI $408K/yr. $4.8M. 8.5% cap.
   
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