1. Apartments in Orlando, FL: 336-unit bank owned apartments next to a lake. Appraised over $22M in Jan 2007 when gross income was $2.796M with 92% occupancy. Property has unpaid loan balance of over $17M and is now 25% occupied. Offering price $3.5M. Strong upside potential.
2. Office Max in Saint Charles, MO: 23,484 SF single-tenant retail center built in 1995 on 2.05 acres lot in St Louis metro with I-70 visibility. Adjacent to a shopping center anchored by Sam’s club and Wal-mart. Tenant has been here since 1995 with a 15 yrs NNN- lease and just renewed 5 yrs option. NOI $268K/yr. $2.83M. 9.5% cap.
3. Retail center in Clearfield, UT: 10,150 SF inline retail center on 1 ac corner lot in Salt Lake city suburbs. Shadow anchored by Macey’s Grocery and Family Dollar store. 100% NNN leased by 4 established tenants. NOI $112K/yr. $1.25M. 9% cap.
4. Apartments in Houston, TX: 300-unit 230,000 SF foreclosed apartments complex built in 1982 in a wealthy Champion Forest area of Northwest Houston (AHI $95K/yr within 1 mile). Minutes from HP campus. 64% occupied. Pro forma NOI $841K/yr. $5.3M. 14.3% pro forma cap.
5. Apartments in Houston, TX: 244-unit 319,000 SF condo converted multi-family on 17 acres lot in good Woodlake area (AHI $101K/yr within 1 mile). 89% occupied. Pro forma NOI $1.068M. $10M. 10.2% cap.
6. Arby’s in San Bernardino, CA: 2416 SF restaurant built in 1988 on .46 acres lot near 100+ store Inland Center Mall. Property will undergo tenant-paid remodel in 2011 to the new Arby's "Pinnacle Modified Image", per Arby's Franchise Agreement. New 20 yrs absolute NNN lease. NOI $87K/yr. with 8% rent bump every 5 yrs. $1.46M. 6% cap.
7. Shopping center in Crystal Lake, IL: 7738 SF 1-yr old retail center adjacent to Wal-Mart and across from 325,000-square foot retail center anchored by K-Mart, Best Buy, Sam’s Club, and Sports Authority. 100% NNN leased to 3 tenants. NOI $226K/yr. $2.42M. 9.36% cap.
8. Shopping Center in Fairview Heights, IL: 59,398 SF 4-unit shopping center built in 2009 on 5.9 acres lot in prime commercial corridor in St Louis suburbs. Anchored by 2 credit tenants: Jo Ann fabrics and Party City. 100% NNN lease. NOI $626K/yr. Price reduced to $7.68M. 8.15% cap.
9. Retail Center in Sacramento, CA: 7320 SF new upscale retail center on 1.1 acres lot near I-80 off-ramp. 100% leased to 2 tenants, each with 10 yrs lease and generous 3% & 5% annual rent bump. NOI $177K/yr. Price reduced to $2.15M. 8.25% cap.
10. Medical Office Building in Apple Valley, CA: 10,640 SF 2-story well-maintained medical office building constructed in 1990 on .56 ac parcel one block to Saint Mary Medical Center in high growth, high income area. Stable property with 100% occupancy for over 10 yrs. NOI $115K/yr. $1.375M. 8.26% cap.
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