Perry Village Shops
Walmart Shadow-Anchored Retail Center | NNN Leases with Minimal Landlord Responsibilities | FL
Marketing description
RIPCO Real Estate is pleased to offer for sale the Perry Village Shops, a 6-tenant, Walmart shadow-anchored retail center on S Jefferson Street in Perry, FL. Four of the six tenants at the center (72.9% of the Gross Leasable Area) consist of national brands such as T-Mobile, Cricket Wireless, H&R Block, and Verizon Wireless. Recently in 2023, the roof and half of the HVAC units were replaced, providing a new investor with minimal capital improvements on the horizon. The center is an outparcel to a Walmart Supercenter, with the next nearest Walmarts being over 40 miles away in Live Oak and Tallahassee, making this location a retail destination for the city of Perry and surrounding communities. Walmart recently renovated their store at the beginning of 2025, including a new parking lot surrounding the Perry Village Shops. Along S Jefferson Street where the asset is located, there is an AADT of 9,700 and just north of Butler Parkway which has an AADT of 13,100.
This asset is an attractive investment opportunity for investors looking for a stabilized retail center with mostly national tenants, offering investors the unique opportunity to acquire a Walmart shadow-anchored center in Florida which rarely become available.
Investment highlights
STABILIZED CASH FLOW WITH NATIONAL TENANTS
- 100% occupied retail center with six tenants on NNN leases
- Four of the six tenants, or 72.9% of the GLA, are national brands
- H&R Block has been at the center since its construction in 2008 and recently signed a lease renewal, showing a strong commitment to the site
- Weighted average lease term remaining of 3.2 years
WALMART SHADOW-ANCHORED CENTER
- Shadow-anchored by a Walmart Supercenter
- Walmart recently underwent extensive renovations as part of a statewide initiative, upgrading dozens of stores over the last five years totaling $1.6 billion
- Renovations for this Walmart included a new parking lot, which surrounds the Perry Village Shops
- The next nearest Walmarts are in Live Oak and Tallahassee, which are over 40 miles away in opposite directions, giving this location a wide trade area
RECENT CAPITAL IMPROVEMENTS
- The roof was replaced in 2023 and has a 20-year warranty
- Half of the HVAC units were replaced in 2023
- The parking lot was repaved and restriped in 2022
STRATEGIC LOCATION
- Located on Jefferson Street and an out-parcel to Walmart, the center at the retail hub for the city of Perry and surrounding communities
- Perry is the county seat for Taylor County
- The property is located on the signalized hard corner of Jefferson Street and W Madison Street, providing easy access to and from the center
- Nordic defense company Nammo recently announced it is partnering with Franklin Engineering and Parsons Corporation (NYSE:PSN) to build its new rocket motor factory in Perry, FL, bringing 200 additional full-time employees to the city
- Big Bend Technical College is opening a new 10,000 SF facility in January 2026 which will house its Industrial Engineering program
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
