1. Extended Stay Hotel in Bentonville, AR: 118-unit 44,700 SF 4-story hotel built in 2008 on 1.87 ac lot near the airport. Fast growing (65% growth since 2000) middle class area where Walmart headquarters is located. $3.3M.
2. Short-sale Strip Center in Mesa, AZ: 10,870 SF strip center completed in 2007 on 1.1 acres lot in high growth are in Phoenix metro. 100% NNN leased by 8 tenants. NOI $126K/yr. Loan balance of $1.65M. Lender has approved $1.2M. 10.5% cap.
3. Burger King in Sterling Heights, MI: 4164 SF fast food restaurant on ¾ ac outparcel to a shopping center anchored by Bally’s, Big Lots, Pier 1 Imports. Renovated in 2010. Across from Target and 150-store Lakeside regional Mall in growing (12% wince 2000) middle upper class (AHI $83K/yr) Detroit suburbs. New 20 yrs absolute NNN lease to an experience operator. NOI $92K/yr. with 10% rent bump every 5 yrs. Low 8% rent to revenue ratio, i.e. profitable store. $1.095M. 8.4% cap.
4. Shopping Center in Phoenix, AZ: 43,276 SF 15-unit shopping center on over 6 acres lot on Baseline road, a major commercial corridor. Anchored by Family Dollar and Fresenius Dialysis center. Adjacent to Big Lots!, Checker Auto, Kmart, and Frys Grocery. 75% NNN leased. Seller will guarantee/master lease to 95% for 2 yrs. NOI $445K/yr. $4.7M. 9.5% cap.
5. Apartments in Los Angeles, CA: 24-unit apartments on .42 acre lot directly across from Chester Washington golf course. Strong income area with no rent control. 100% occupied. NOI $174K/yr. $2.2M. 7.94% cap.
6. Bank-owned Apartments in Long Beach, CA: 8 unit apartments built in 1987 on .15 ac lot in middle class area. 12 covered parking spaces. Renovated in 2008. Proforma NOI $89K/yr. $1.12M. 8% cap.
7. Apartments in Concord, CA: 9-unit garden-style apartments on ¼ ac lot in a high income San Fran Bay area (AHI $100K/yr). 90% occupied. NOI $85K/yr. $1.175M. 7.25% cap. Seller motivated.
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