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NNN Walmart Shadow Ctr/Med. |Assum Debt Avail 150 Sam Walton Dr

18,736 SF 93% Leased Retail Building Sparta, TN 38583 £2,919,185 (£156/SF) 7.75% Net Initial Yield

Investment Highlights

  • NNN, 93% Occupied, Walmart Supercenter Shadow Anchored Center with 85% Nationally Named Tenants | New Roof in 2022 with 15 Year Transferrable Warranty
  • Successful Tenancy Consistently Exercising Renewals: 82%+ Leased Space has Been Renewed in Past 18-Months (Including All Three Anchor Tenants)
  • Growing Community with Average Household Incomes Over $88,000 Within 1-Mile and 15,600+ Vehicles Per Day Directly In Front of Center
  • Highly Attractive Assumable CMBS Debt at 4.88% Interest Rate, Approx. 5 Yrs. of Term Remaining, 30-Yr. Amortization & Yielding Over 10% Year-1 Retur
  • 7.75% CAP Rate & Upside Available Through Lease-Up of the Last Remaining Vacancy (7%)| Dynamic Mix of Service-Oriented Retail/Medical, Recession Pro
  • Anchored by Well-Known, Tenured National Retailers/Medical: Fast Pace Urgent Care, Verizon, & DaVita/Sparta Dialysis (50% Medical Tenants)

Executive Summary

• NNN, 93% Occupied, Walmart Supercenter Shadow Anchored Center with 85% Nationally Named Tenants
• Highly Attractive Assumable CMBS Debt at a 4.88% Interest Rate, Approx. 5 Years of Term Remaining, 30-Yr. Amortization and
Yielding Over 10% Year-1 Expected Return on Investment
• Successful Tenancy Consistently Exercising Renewals: Over 82% of the Leased Space has Been Renewed Within the Past 18-Months
(Including All Three Anchor Tenants), Further Enhancing Rent Roll Stability
• 7.75% CAP Rate with Upside Available Through the Lease-Up of the Last Remaining Vacant Unit (7%)
• Dynamic Mix of Service-Oriented Retail and Medical Users, Truly a Recession/Internet Proof Asset
• Reported Continued Upward Trending Sales, Further Proving Tenant Success
• Anchored by Well-Known, Tenured National Retailers/Medical: Fast Pace Urgent Care, Verizon (Premium Retailer), and
DaVita/Sparta Dialysis (50% Medical Tenants)
• Growing Community with Average Household Incomes Over $88,000 Within 1-Mile
• Desirable Curb Appeal and Newer Roof (2022) with 15-Year Transferrable Warranty
• Easy Access Positioned in Walmart Supercenter Corridor with Prominent Pylon Signage, Frontage and High Visibility
• Main Retail Corridor: Surrounded by Complimentary Retailers Along One of the Most Heavily Traveled Roadways Through Sparta -
70S (15,600+ VPD Directly In Front of Center)
• Tennessee: Income Tax Free State
• Advantageously Located 80 Miles from Booming Nashville/ Nashville International Airport and Most Centralized City to 3 Out of 4 of
the Largest Cities in the State
• Strong Employment Base: Ascension Saint Thomas Highlands Hospital (230 Employees), Moeller Marine Products (250 Employees),
Acument Global Technologies, Rebo Lighting & Electronics and Tri-State Distribution (All With Approximately 200 Employees) and
BASF (125 Employees)

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income £226,116 £12.07

Financial Summary (Actual - 2024)

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual £226,116
Annual Per SF £12.07

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
18,736 SF
Building Class
B
Year Built
2004
Price
£2,919,185
Price Per SF
£156
Net Initial Yield
7.75%
NOI
£226,116
Percent Leased
93%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.29
Lot Size
1.48 AC
Opportunity Zone
Yes
Zoning
C-D - Commercial District
Parking
79 Spaces (4.22 Spaces per 1,000 SF Leased)
Frontage
162 ft on Taft Church Road

Amenities

  • Banking
  • Corner Lot
  • Dedicated Turn Lane
  • Pylon Sign
  • Signage
  • Signalised Intersection
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Health Care and Social Assistance
  • 4,698 SF
  • -
  • NNN
  • Nov 2028

DaVita is about life. They are about enriching the lives of their patients, teammates and partners, and the communities in which they operate. To know DaVita—affectionately referred to as the Village—is to understand their history and culture. From a humble start to striving to become a pioneer in health care around the world, see how DaVita has progressed through the years. At DaVita, they are driven to deliver differential, equitable and holistic care to their patients throughout their entire kidney disease journey. Learn how they are making strides to transform kidney care today and beyond. “Giving life.” The name DaVita is an adaptation of this Italian phrase. This is what teammates strive to do for DaVita patients every day, whether they work in a clinic or give support in an office. They are dedicated to an unwavering pursuit of a healthier tomorrow through their mission and core values.

  • Health Care and Social Assistance
  • 3,600 SF
  • -
  • NNN
  • Mar 2030

Fast Pace Health’s “patient first” mentality has guided its mission to provide convenient and compassionate care to the communities it serves. Since 2009, Fast Pace Health has grown from one clinic in Collinwood, TN to clinics throughout Tennessee, Kentucky and Mississippi, with plans for future expansion.

  • Results Physiotherapy
  • -
  • 1,050 SF
  • -
  • NNN
  • Dec 2027
  • Accommodation and Food Services
  • 1,400 SF
  • -
  • NNN
  • Sep 2027

Subway® is simply the better choice for freshly made, convenient, and affordable food. For a reason, they are one of the world’s largest restaurant brands, serving up a crave-able menu with better options to their millions of fans, every day. Whether it’s their bread baked fresh daily, new flavorful signature subs or their classic fan favorites made fresh to order, Subway® delivers a quality, delicious meal that people can feel good about. The Subway® story began in 1965 when Fred DeLuca asked his family friend, Dr. Peter Buck, a nuclear physicist, for advice on how to pay his college tuition. With an idea to open a submarine sandwich shop and an initial investment from Dr. Buck, the two formed a business partnership that would ultimately change the landscape of the quick-service restaurant industry.

  • Tobacco & Vape
  • -
  • 1,302 SF
  • -
  • NNN
  • Oct 2026
  • Verizon
  • -
  • 3,500 SF
  • -
  • NNN
  • Jul 2026
  • WalMart Supercenter (Shadow Anchor)
  • -
  • -
  • -
  • NNN
  • -
  • Finance and Insurance
  • 1,750 SF
  • -
  • NNN
  • May 2025

For the past several decades, World Finance has been helping people realize their financial goals by offering fixed rate and payment loan solutions. With branches nationwide, they are part of the communities in which they serve. Their branches are staffed with friendly, knowledgeable team members who live and work right in their town. They understand clients' needs and are available to meet with them one-on-one to discuss their loan options. When clients need to borrow money, World Finance is there as a financial neighbor clients can rely on and trust. Since 1962, they’ve been committed to helping their neighbors thrive and grow by supporting their financial needs. With them, clients get the strength of a national financial institution and the personal services of local neighborhood branches. It’s one of the top reasons millions of customers choose them.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Health Care and Social Assistance 4,698 SF - NNN Nov 2028
Health Care and Social Assistance 3,600 SF - NNN Mar 2030
Results Physiotherapy - 1,050 SF - NNN Dec 2027
Accommodation and Food Services 1,400 SF - NNN Sep 2027
Tobacco & Vape - 1,302 SF - NNN Oct 2026
Verizon - 3,500 SF - NNN Jul 2026
WalMart Supercenter (Shadow Anchor) - - - NNN -
Finance and Insurance 1,750 SF - NNN May 2025

Nearby Major Retailers

Krystal
Ymca
U.S. Bank
First Horizon Bank
CrossFit

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
048-130.01
Land Assessment
£87,114 (2023)
Improvements Assessment
£421,699 (2023)
Total Assessment
£508,813 (2023)
  • Listing ID: 33535569

  • Date on Market: 16/10/2024

  • Last Updated:

  • Address: 150 Sam Walton Dr, Sparta, TN 38583

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