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Walmart Neighborhood Portfolio

Roanoke, Virginia

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About the Investment:

  • Long-Term, 20-Year Lease | Both Sites have 12.50+ Years Remaining | Ten Percent Increases in the Option Periods
  • Both Sites have Full Gas Station Pads | 12 Pumps | Increased Traffic & Customer Loyalty
  • Walmart Corporate Guarantee | Walmart Reported $559 BN in 2021 Revenue
  • Ten Percent (10%) in the First Two (2), Five (5) Year Tenant Renewal Options and Five Percent (5%) in the Last Two (2), Five (5) Year Tenant Renewal Options

About the Dale Avenue Location:

  • Dense Retail Corridor | | Major National Tenants Include: Dollar Tree, Dollar General, Kroger, CVS Pharmacy, Advance Auto Parts, O’Reilly Auto Parts, McDonald’s, Burger King, and Many More
  • Strong Demographics | Population Exceeds 118,600 Individuals Within a Five-Mile Radius
  • Compelling Real Estate Fundamentals | Located Approximately One Mile from Downtown Roanoke
  • Strong Traffic Exposure | Dale Avenue | Over 29,100 Vehicles Per Day
  • Strong Academic Presence | Fallon Park Elementary School | Located Across the Street from the Subject Property | Over 600 Students Enrolled

About the Plantation Road Location:

  • Strong Retail Corridor | Major National Tenants Include: Sam’s Club, Marshalls, Five Below, Aldi, Food Lion, BJ’s, Office Max, Walgreens, McDonald’s, Starbucks, Firestone, Advance Auto Parts, and Many More
  • Strong Real Estate Fundamentals | Located Near Roanoke-Blacksburg Regional Airport
  • Located Near Signalized Intersection | Ideal Exposure for a Retail Location
  • Just Down the Road from Monterey Elementary School | +500 Students Enrolled

Key Details

Price:
$28,242,800
Cap Rate:
4.50%
Annual Rent:
$1,270,926
Address:
2141 Dale Avenue & 4950 Plantation Road, Roanoke, Virginia 24013 & 24019
Property Type:
Net Leased Grocery
Lease Type:
Double Net (NN)

Original Lease Term:
20 Years
Lease Commencement:
January 28, 2015
Lease Expiration:
January 27, 2035
Lease Term Remaining:
12.50+ Years
Rental Increases:
10% In Option 1 & 2; 5% in Option 4 & 5
Lot Size:
+/- 13.26 Acres
Building Size:
82,956 SF
Year Built:
2014
Tenant:
Walmart Neighborhood Portfolio

Broker of record

Brian Hosey

License: 0225247494


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