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Walmart Neighborhood Market (Dark)

North Chesterfield, Virginia

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About the Investment:

✓ Over 9 Years Remaining on a Corporate Walmart Lease
✓ 10.30% Cash on Cash Return at List | 73% LTV | Non-Recourse In Place Financing
✓ Large 5.47 Acre Lot Located on a Very Highly Trafficked Road in Richmond, VA
✓ Three Percent (3%) Rental Increases Occurring Every Five (5) Years in the Base Term

About the Location:

✓ Heavily Trafficked Corridor | Over 38,000 Vehicles Pass the Location Each Day
✓ Surrounded by Thousands of Homes | The Walmart was Developed in Front of Two Major Apartment and Townhome Communities
✓ Located in Between Two Major Retail Pockets | Surrounding Area Tenants Include |Dollar Tree, Food Lion, CVS Pharmacy, Walgreens, Marshalls, Waffle House, McDonald’s, AutoZone and Many More
✓ Strong Real Estate Fundamentals | Located Less Than Three-Miles from Virginia National Guard Joint Headquarters | Over 2,800 Civilian Workers, Contract Workers, and Military Service Members
✓ Chester County Airport | Located Approximately One-Mile Away
✓ Strong School Presence | Several Elementary Schools and One High School Nearby |Total Enrollment Exceeds 3,100 Students
✓ Affluent Community | Average Household Income Exceeding $80,300 Within a Three-Mile Radius

About the Tenant/Brand:

✓ Founded in 1969, Walmart Has Grown to a More Than $500 Billion Company With 10,500+ Stores Under 48 banners in 24 Countries and eCommerce Websites
✓ With Fiscal Year 2021 Revenue of $559 Billion, Walmart Employs Over 2.3 Million Associates Worldwide

Key Details

Price:
$10,760,418
Cap Rate:
6.25%
Annual Rent:
$672,526
Address:
7000 Iron Bridge Rd, North Chesterfield, Virginia 23234
Property Type:
Net Leased Grocery
Lease Type:
Triple Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
September 9, 2015
Lease Expiration:
September 8, 2030
Lease Term Remaining:
9.1 Years
Rental Increases:
3% Every 5 Years & 5% Each Option
Lot Size:
5.47 Acres
Building Size:
41,117 SF
Year Built:
2015
Tenant:
Walmart Neighborhood Market (Dark)

Broker of record

Brian Hosey

License: 0225247494


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