10-13: Commercial Lot, Apartments, Lone Star Steakhouse, Burger King, Mini Storage For Sale

2010 Fastest Growing Cities in the US.  Click here for the article.

1.      Commercially-zoned Land in Cupertino, CA: rare 5.16 acres bank-owned commercially-zoned lot at the corner of I-280 and Wolf in a wealthy city Silicon Valley.  $6.745M.

2.      Shopping Center in Sioux city, IA: 71,987 SF well-established shopping center on 6.86 acres lot across the Street from Southern Hills Regional Mall & Lakeport Commons Power Center. 78% leased.  NOI $413K/yr. $4.135M. 10% cap.

3.      Bank-owned Apartments in Memphis, TN: 559-unit class-C apartments on over 29 acres lot.  Foreclosed by bank with $12M loan.  Property will require $3M rehap. 20% occupied.  Pro forma NOI $1.35M.  $4.5M as is or $8M after $3M rehap.  Just $8K/unit.

4.      Retail Center in Newark, CA: 9800 SF 7-unit strip center built in 2007 on .94 acres lot in high income city in San Fran metro (AHI $101K/yr).  90% NNN leased.  Actual NOI $162K/yr. $2M. 8.16% cap. Upside potential when rent concessions are gone and/or 100% leased.

5.      Lone Star Steakhouse in Baton Rouge, LA: 5480 SF restaurant built in 1998 on 1.3 acres with I-12 visibility.  Shadow anchored by Wal-mart and Rave Baton Rouge 16 theater.  100% corp NNN lease till 2022. NOI $174K/yr.  $1.698M. 10.25% cap.

6.      Burger King in Casa Grande, AZ: 2678 SF restaurant in a fast growing city.  Tenant just spent $250K in renovation.  100% NNN leased till 2021 by an operator with 8 locations.  NOI $108K/yr. $1.44M. 7.5% cap.

7.      Apartments in Smyrna, GA: 122 unit well-kept apartments on 6.9 acres lot in quiet setting, middle-class Atlanta metro (AHI $75K/yr).  Amenities include stand alone leasing office, clubroom, swimming pool, laundry center, playground, and picnic area with grills. 81% occupied with low rent. NOI $330K/yr. $3.5M. 9.43% cap.

8.      Mini Storage in Sacramento, CA: 31,420 SF mini-storage facility built in 1996 near Sacramento Executive Airport.  76% occupied.  NOI $192K/yr. $2.752M. 7% cap.

9.      Shopping Plaza in Kent, WA: 73,061 SF shopping center on 7.11 acres corner lot with Hwy 99 frontage in growing middle class South of SeaTac Airport. 88% leased.  NOI $1.046M. $13.5M. 7.75% cap.

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