1002 Spence Avenue,,, Goldsboro, NC 27534 For Sale

Rare single-tenant Walmart Supercenter fee simple opportunity at 1002 N. Spence Avenue, Goldsboro, NC 27534. The property consists of a 120,487 SF building on 8.3 acres of land with abundant parking and is offered at a new asking price of $5,125,000.

The asset is 100% leased to Walmart Supercenter on a long-term NNN lease. Walmart has operated successfully at this location for over 35 years (since 1988), including a major expansion/remodel in 2000. Current annual store sales are $95 million, generating $82,135 in percentage rent last year (maximum overage paid). The total effective rent produces an NOI of $377,054 ($294,919 base + $82,135 percentage rent), resulting in an attractive 7.32% cap rate and an extremely low occupancy cost for Walmart.

The property enjoys outstanding visibility and traffic counts: ~50,000 VPD on U.S. Highway 70, 29,000 VPD on Highway 13, and 18,000 VPD on N. Spence Avenue. It is located just 2 miles from Seymour Johnson Air Force Base (home to the 4th Fighter Wing and several operational units), a major economic driver for the region. The site is surrounded by a strong national retail corridor including Sam’s Club, Target, Lowe’s, Harris Teeter, PetSmart, Applebee’s, and many others.

This is a stabilized, investment-grade retail asset (S&P “AA” credit rating) in a high-traffic, well-demographiced market with over 32,000 residents within a 1-mile radius and average household incomes exceeding $76,800.