Top 8 Properties 02-18-10

1. Burger King in Naperville, IL: 2917 SF restaurant on .57 ac outparcel to a shopping center in a affluent (AHI $129K/yr) Chicago suburb. 100% NNN leased till 2014 by an operator with 48 locations. NOI $120K/yr with 1% annual rent bump. $1.655M. 7.25% cap.
2. Family Dollar in Miami, FL: 8000 SF new Family Dollar store on .8 acre lot at an intersection of 2 major arteries. 10 yrs NNN corp lease. NOI $169K/yr with 10% rent bump every 5 yrs. $1.987M. 8.5% cap.
3. Apartments in Fresno, CA: 80-unit apartments complex on 2.9 acres lot in a high income & highly rated Clovis Unified School District. 95% occupied. NOI $236K/yr. $3.2M. 7.18% cap. Just $40K/unit.
4. Medical Building in Rialto, CA: 34,709 SF medical office building constructed in 1993 on over 3 acres next to hwy 210 in a growing city. 93% leased with low rents. NOI $413K/yr. $5.3M. 8% cap.
5. Medical Building in Huntington Beach, CA: 58,518 SF 4-story 40-unitmedical building on 2.6 acres lot on the campus Huntington Beach Hospital, a 131 bed facility with over 500 employees and 300 physicians. Excellent demographics: AHI $110K/yr and over 450K residents within 5 miles ring. 95% leased by all medical professionals. NOI $864K/yr. $10.975M. 7.95% cap.
6. Retail Building in Hempstead, NY: 3000 SF retail center in a densely-populated (over 500K residents) and high income (AHI $107K/yr) New York metro. 100% leased by a Pizzeria and Hair salon that both occupied the center since 1994. NOI $57K/yr. $714K. 8% cap.
7. Shopping center in Spokane, WA: 55,763 SF shopping center on 6.9 acres anchored by Joann Fabrics, Petco and shadow anchored by Rite Aid. Stable and high income area. 100% leased. NOI $398K/yr. $5.5M. 7.24% cap.
8. Tunex Automotive center in South Jordan, UT: 5800 SF new automotive center on .59 acre parcel in a fast growing (45%) and wealthy (AHI $99K/yr)Salt Lake City suburb. 10 yrs absolute NNN corp lease by Tunex Automotive, a fast growing franchise with 24 locations in UT. NOI $137K/yr. with 10% rent bump every 5 yrs. $1.768M. 7.75% cap.
   
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