Top 4 Properties 02-11-10

1. Walgreens in Elk Grove, CA: 14,905 SF drug store built in 2004 on 2.47 acres corner lot in an upper income Sacramento suburb with AHI over $93K/yr within 1 mile ring. 100% absolute NNN lease with 14 yrs remaining. NOI $345K/yr. $4.93M. 7% cap. Buyer to assume $3.356M non-recourse loan (68% LTV) at low 5.54% fixed till June 2015.
2. Apartments in Sacramento, CA: 17-unit bank-owned apartments on ¾ acre gated lot with 12 2-br units. 50% occupied. $725K.
3. Denny’s restaurant in Palmdale, CA: 4149 SF restaurant built in 2002 on .6 acre outparcel to Lowes and Wal-mart. 20 yrs NNN lease with 18 yrs remaining. NOI $155K/yr. $1.97M. 7.77% cap. Store with strong sales revenue of over $2.2M/yr., i.e. very profitable.
4. Walgreens in Selma, CA: 14,550 SF new drug store on 1.65 acres lot just off Hwy-99 in a fast growing town in San Joaquin Valley. 25 yrs absolute NNN lease. NOI $470K/yr. $6.266M. 7.5% cap.
   
   © Transmercial 2010. All rights reserved.