Top 8 Properties 07-02-10

NOI: Net Oper Income—income after tax, insurance and maintenance expenses paid.

AHI: Avg. Household Income

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses

1. Strip Center in McDonough, GA: 12,183 SF strip center built in 2008 on 1.6 acres lot in Atlanta metro.  100% NNN leased by 3 tenants. NOI $242K/yr.  $2.8M. 8.65% cap.
2. Retail Building in Reno, NV: 4800 SF two-tenant retail building anchored by 7-Eleven at busy corner location. 100% NNN leased. NOI $76K/yr. $995K. 7.70% Cap.
3. Single Retail Building in Arlington, TX: 4000 SF single-tenant retail building constructed in 2005 at hard corner location on I-20 in wealthy (AHI $87K/yr) Fort Worth suburbs. Long NNN lease by Better Health Market. NOI $108K/yr. $1.029M. 10.50% Cap.
4. Shopping Center in Roanoke, TX: 22,075 SF multiple-tenant shopping center on 2.36 acres of land in fast growing Fort Worth metro close to Hwy-114/170. 92% leased. NOI l$215K/yr. $2.150M. 10% Cap.
5. Dick’s Sporting Goods in Irving, TX: 55,000 SF single-tenant retail building constructed in 2008 on 4.88 acres of land located at major commercial growth corridor with excellent freeway visibility. Long NNN leased by credit tenant. NOI $801K/yr. $8.433M. 9.5% Cap.
6. Apartments in Wichita, KS: 182-units well-maintained apartment complex close to parks with good unit mix. 97% leased. $5.865M. 8.03% Cap.
7. Goddard School in Zionsville, IN: 8000 SF day care facility built in 2001 on over 1 acre lot in fast growing (40.75%) well-off (AHI $102K/yr within 3-miles radius) Indianapolis suburbs. Long-term NNN lease by strong tenant. NOI $151K/yr. $1.825M. 8.30% Cap.
8. Apartments in Springfield, MO: 61-units two-story apartment complex just blocks from Missouri State University. 95% leased. NOI $189K/yr. $1.995M. 9.5% Cap.

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