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100% Absolute NNN Walmart Supercenter Recently Exercised 5-year Renewal
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Investment Highlights
- $23,396,000 (6.00% cap)
- $1,403,777 NOI
- 20+ Year Occupancy History
- Recent 5 Year Option Exercised
- 100% Absolute Triple Net
- Recent Capital Investment by Tenant (Walmart Pickup)
- 205k SF Supercenter Prototype
- 23+ acre lot with ~1,000 parking
- High Performing Store - Inquire with broker for details
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Location Highlights
- #1 store (by population)*
- #1 store (by HH income)*
- #1 store in Triad (by traffic count)
- Hanes Mall Blvd. corridor is experiencing significant new hotel, retail and multifamily development
- Closest Walmart Supercenter to downtown Winston-Salem
- Triad has population of 1.6M
- Generational Asset / Location
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Opportunity: Pegasus Investments, as exclusive investment sale advisor
to seller, is pleased to offer a generational opportunity to acquire a highly
seasoned single tenant Walmart Supercenter situated on ~23.5 acres of prime,
infill land along Hanes Mall Blvd. at I-40 within the commercial heart of
Winston-Salem, North Carolina. After more than 20 years of successful
historical occupancy, Walmart recently exercised its first of six, 5-year renewal
options extending the current term maturity to August 2022. The subject
property is 100% leased on an absolute triple net (NNN) basis to Walmart - the
world’s largest company by revenue as well as the world’s largest private
employer with revenue approaching $500 billion annually and 2.3 million employees,
respectively. The subject Walmart Supercenter is reportedly one of the highest
grossing stores in the region and has cemented its foothold as a mission
critical store serving southwest Winston-Salem.
Location: Walmart’s success is largely attributable to its strategic,
irreplaceable location at the confluence of Winston-Salem’s most critical
traffic corridors: I-40, Hanes Mall Blvd., and SR-421 which carry combined
average traffic counts in excess of 130,000 cars daily. Winston-Salem is the
largest city by population within the Triad, which is the north-central region
of North Carolina with an estimated population of more than 1.6 million people
(33rd largest CSA metro in the U.S.). The Hanes Mall Blvd. corridor adjacent to
the Walmart is experiencing significant growth including new hotel,
multifamily, and retail development. The Hanes Mall corridor contains more than
5 million square feet of existing and newly built high quality retail, office,
hospitality and multifamily property and is considered the #1 commercial
corridor in the Triad. |
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Brad Kritzer
Executive Vice President
(310) 691-1350 x106 BRE Lic 01918111 |
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David B. Chasin Managing Director (310) 691-1350 x101 BRE Lic 01513027 |
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Daylin Ackerman Associate
(310) 691-1350 x114 BRE Lic 02011508 |
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Tony Veiller Senior Analyst
(310) 691-1350 x113 BRE Lic 01995952 |
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Pegasus Investments Real Estate Advisory Inc. | BRE License Number 01961545
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