Top 10 Properties of 12-02-09

1. Walgreens in Stockbridge, GA: 15,120 SF drug store built in 2001 on over 2 acres lot in a high income (AHI over $98K/yr) Atlanta metro. 20 yrs NNN lease with over 11 yrs remaining. NOI $357K/yr. $4.407M. 8.1% cap.
   ▪ Top 5 store among 35 in its district in terms of sales revenue.
   ▪ 24-hr drug location with Takecare Clinic
   ▪ Close proximity to Henry Medical Center.
   ▪ Rare desirable location with 3 frontages!
2. Office Building in Santa Clara, CA: 7800 SF foreclosed office building on Stevens Creek Blvd. in a high income city in Silicon Valley with AHI $115K/yr. 2 separate entrances and elevator. $1.7M.
3. Tuffy Auto in Round Rock, TX: new 5225 SF automotive center in high-growth (54% since 2000), high income (AHI over 100K/yr) Austin suburbs. New 20 yrs NNN lease by a corp with 450 locations in 15 states. NOI $135K/yr with 9% rent bump every 5 yrs. $1.638M. 8.25% cap.
4. Jiffy Lube in Pearland, TX: 4155 SF Jiffy Lube built in 2008 in a growing suburban Houston. 20yrs absolute NNN lease by a franchisee with 110 units. NOI $151K/yr. with 10% rent increase every 5 yrs. Price reduced to $1.64M (appraised at $2.1M). 9.25% cap.
5. Applebee’s in Peoria, AZ: 5431 SF franchised restaurant on 1.2 acres lot at the entrance to Arrowhead Town Center Mall. New 15 yrs absolute NNN lease.. NOI $230K/yr. with 1% annual rent bump. $2.787M. 8.25% cap.
   ▪ Profitable location with strong sales of over $3.3M/yr.
   ▪ 8-th largest restaurant franchisee in the US with 90 locations and over 7500 employees.
   ▪ Outparcel to Target anchored center.
6. Apartments in San Jose, CA: 10-unit apartments complex in a high income area near Santa Clara Medical Center & San Jose City College with AHI over $106K/yr. 100% occupied. NOI $75K/yr. $1.299M. 5.84% cap.
7. Strip Center in Yorba Linda, CA: 8000 SF inline strip center shadow anchored by Stater Bros grocery. 100% leased. NOI $201K/yr. $2.872M. 7.25% cap.
   ▪ A+ location in Orange county: AHI $113K/yr.
   ▪ Close to Hwy 90
8. Apartments in Oakland, CA: 26-unit lender-owned apartments well-managed and in good condition. Gross income $272K/yr. $1.825M. Seller will carry with 25% down payment.
9. Advance Auto Parts in Houston, TX: 7000 SF 2-yr old auto parts store on 2/3 acre lot. 15 yrs NNN lease. NOI $127K/yr with rare 10% rent increase in 11-th yr. Price reduced to $1.497M. 8.5% cap. Recession insensitive tenant.
10. Lone Star Steakhouse in Baton Rouge, LA: 5480 SF regional restaurant on 1.3 acres lot just off I-12. At the entrance to 200-bed Oschner medical center and near Wal-mart supercenter in a growing and high income area. 15 yrs NNN lease with financially-strong guarantor. Store with strong revenue of over $2.5M/yr. NOI $170K/yr. $1.825M. 9.35% cap.
    
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