Walmart Neighborhood Market 1630 Red Bank Rd
41,117 SF Retail Building Goose Creek, SC 29445 £8,195,940 (£199.33/SF) 6.25% Net Initial Yield
INVESTMENT HIGHLIGHTS
- POSITIONED NEAR MAJOR ECONOMIC DRIVERS
- STRONG LEASE FUNDAMENTALS
- INVESTMENT GRADE TENANT
EXECUTIVE SUMMARY
STRONG LEASE FUNDAMENTALS
- Long-Term Lease with more than 10 years remaining
- 4 x 5 Year extensions
- Minimal Landlord Responsibilities
INVESTMENT GRADE TENANT
- Wal-Mart, Inc. has a AA Credit rating from the S&P
- NYSE: WMT - with a market cap of over $562 Billion Dollars
- The brand has been ranked #1 on Fortune 500 Global list - #1 in Global Sales
POSITIONED NEAR MAJOR ECONOMIC DRIVERS
- More than 913K SF of industrial Space located within a 1-mile radius of the site
- Located 10 miles from Charleston International Airport (1.6K full time employees & over 3 million passengers annually)
- Over 5.5K students within 2 miles
- 2 Miles from AFSB - Charleston (Over 600 personnel)
OVERSIZED PARCEL WITH GREAT ACCESS
- Over 6 acres provides significant redevelopment upside
- Parcel also provides flexibility for adding value through rezoning or higher-density projects
- Multiple point of ingress and egress
HIGH GROWTH CHARLESTON, SC
- 6 acre Site with significant redevelopment upside is located at the intersection of Red Bank Rd (32.5K VPD) and Henry E Brown Jr. Blvd (30.8VPD)
- Henry E Brown Jr. Blvd runs to center city Charleston, SC with a population over 157K
- Since 2020 the population of Charleston, SC has grown more than 4%
- Charleston, SC is growing 3X faster than the US average
WALMART NEIGHBORHOOD MARKET
- The Neighborhood format was designed in 1998 with around 38,000 SF and 95 employees
- With more than 500 stores, the new format is growing rapidly
- The site is one of only 400 nationwide to have a Walmart Gas Station attached to the parcel
- Long-Term Lease with more than 10 years remaining
- 4 x 5 Year extensions
- Minimal Landlord Responsibilities
INVESTMENT GRADE TENANT
- Wal-Mart, Inc. has a AA Credit rating from the S&P
- NYSE: WMT - with a market cap of over $562 Billion Dollars
- The brand has been ranked #1 on Fortune 500 Global list - #1 in Global Sales
POSITIONED NEAR MAJOR ECONOMIC DRIVERS
- More than 913K SF of industrial Space located within a 1-mile radius of the site
- Located 10 miles from Charleston International Airport (1.6K full time employees & over 3 million passengers annually)
- Over 5.5K students within 2 miles
- 2 Miles from AFSB - Charleston (Over 600 personnel)
OVERSIZED PARCEL WITH GREAT ACCESS
- Over 6 acres provides significant redevelopment upside
- Parcel also provides flexibility for adding value through rezoning or higher-density projects
- Multiple point of ingress and egress
HIGH GROWTH CHARLESTON, SC
- 6 acre Site with significant redevelopment upside is located at the intersection of Red Bank Rd (32.5K VPD) and Henry E Brown Jr. Blvd (30.8VPD)
- Henry E Brown Jr. Blvd runs to center city Charleston, SC with a population over 157K
- Since 2020 the population of Charleston, SC has grown more than 4%
- Charleston, SC is growing 3X faster than the US average
WALMART NEIGHBORHOOD MARKET
- The Neighborhood format was designed in 1998 with around 38,000 SF and 95 employees
- With more than 500 stores, the new format is growing rapidly
- The site is one of only 400 nationwide to have a Walmart Gas Station attached to the parcel
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
41,117 SF
Building Class
B
Year Built
2014
Price
£8,195,940
Price Per SF
£199.33
Net Initial Yield
6.25%
NOI
£512,263
Tenancy
Single
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.15
Lot Size
6.30 AC
Zoning
GC
Parking
187 Spaces (4.55 Spaces per 1,000 SF Leased)
Frontage
354 ft on Red Bank Rd
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 41,117 SF
- -
- Double Net
- Jun 2035
Neighborhood Markets offer a convenient shopping experience for customers who need groceries, pharmaceuticals and general merchandise. Generally, they are located in markets with Wal-Mart Supercenters, supplementing a strong food distribution network and providing added convenience while maintaining Wal-Mart’s Every Day Low Prices. First opened in 1998 Neighborhood Markets, averaging 42,000 square feet, feature a wide variety of products, including fresh produce, deli foods, fresh meat and dairy items, health and beauty aids, one-hour photo and traditional photo developing services, drive-through pharmacies, stationery and paper goods, pet supplies, and household chemicals.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 41,117 SF | - | Double Net | Jun 2035 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 252-00-00-018 | Improvements Assessment | £4,581,658 |
| Land Assessment | £3,667,579 | Total Assessment | £8,249,237 |
