Listed by Colliers - Los Angeles - Orange County, California
Unpriced
Walmart Neighborhood Market
Details
APN 041C-B-002.00
Property Type Retail
Sub Type Convenience Store
Square Footage 44,954
Cap Rate 5.25%
Occupancy 100%
Tenancy Single
Brand/Tenant Walmart
Lease Type NNN
Lease Term 15
Lease Expiration 04/12/2031
Remaining Term 4.9
Rent Bumps Yes
Lease Options 17 - 5Yr Option Periods
Acreage 5.069
Tenant Credit Corporate Guarantee
Lease Commencement 04/12/2016
Investment Grade Tenant
Marketing description
We are pleased to offer to qualified investors an opportunity to
purchase a single tenant retail asset on a NNN lease that is 100%
leased to Walmart Neighborhood Market and backed by a full
corporate guarantee from Walmart Stores Inc. (Parent Company).
Walmart is currently dark (paying full rent) with over 9.5 lease years remaining on a 15-year primary term. This is a fee simple (land
and building) asset that comprises a 44,954 square feet building
on approximately 5.07 acres of land. Well positioned on Andrew
Johnson Hwy (20,600+ VPD), the subject property sits in the heart
of Morristown’s retail and employment center with major retailers
such as The Home Depot, Walgreens, Chick-fil-A, McDonald’s, Food
City, Lowe’s, Ollie’s Bargain Outlet, Dollar Tree and more in close
proximity. This is a unique opportunity to acquire a dark Walmart
Neighborhood Market with over 9.5 lease years remaining, with a
corporate guaranty, recently constructed in 2015, with over 10.5
lease years remaining and 4 – 5 year options.
Investment highlights
- Walmart Neighborhood Market (Dark) – Corporate Guaranteed Wal-Mart Stores, Inc.
- Rated “AA” by Standard & Poor; Rated Aa2 by Moody’s - Highly Stable
- Over 9.5 Lease Years Remaining – $6.7M in Outstanding Rent Obligations
- NNN Lease – Zero Landlord Obligations
- 44,954 SF Building – Recently Constructed Building (2016) – 5.07 Acres of Land
- Walmart Stores Inc - Parent Company Guarantee - Investment Grade
- Positioned on Morristown’s Main East/West Thoroughfare – Andrew Johnson Hwy (46,113+ VPD)
- Nearby Retailers: The Home Depot, Walgreens, Chick-fil-A, McDonald’s, Food City, Lowe’s, Ollie’s Bargain Outlet, Dollar Tree and More
- Morristown, TN – Principal city of Morristown MSA – County Seat of Hamblen County
- Regional Hub for Employment, Shopping, Recreation, Healthcare, Education
- Over 45,500 Residents within a 5-Mile Radius
- Average Household Income of $56,081 within a 5-Mile Radius
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California
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