This Retail Property is Off-Market.

3650 Walton Drive
Myrtle Beach, SC 29577 ·

45,778 SF · Retail For Sale

N/A

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Walmart Neighborhood Market Ground Lease

Price N/A Cap Rate 4.50%
Building Size 45,778 SF Tenancy Single
Property Type Retail Property on Ground Lease? Yes
Property Sub-type Free Standing Bldg Year Built 2016
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 7.45 SF
Listing ID: 19691542 Date Created: 03/18/2016 Last Updated: 09/12/2016

Description

Steve Horvath and Ransome Foose of Berkeley Capital Advisors are pleased to present for sale, Walmart Neighborhood Market GL at Farrow Commons in Myrtle Beach, SC. Highlights as follows:

AA INVESTMENT GRADE TENANT
Wal-Mart Stores, Inc., traded on the New York Stock Exchange under the ticker symbol WMT (AA/A-1+), has the highest credit rating of any national retailer. The company operates through three segments: Walmart U.S., Walmart International, and Sam' s Club. Walmart has 11,000 stores under 72 banners in 27 countries.

20 YEAR ABSOLUTE NET CORPORATE GROUND LEASE
The new 20 year ground lease comes with the Walmart corporate guarantee and no landlord responsibilities. There are 5% rent increases in each option period.

AAA LOCATION | EXCEPTIONAL VISIBILITY
WMT will be visible from Hwy 17 in the heart of Myrtle Beach. This site will benefit from nearly 60,000 vpd driving on the highway and passing the store. Hwy 17, or Kings Hwy, is where most of the attractions and businesses are located throughout Myrtle Beach. Surrounding retailers include Piggly Wiggly, Food Lion, Barnes & Noble, CVS, Dollar General, and McDonald' s

STRENGTH OF THE FARROW COMMONS IMMEDIATE SUBMARKET
Berkeley rarely sees 80% population growth and 83% household growth within three miles from 2000-2015 (see demos). The U.S. Census Bureau reported in 2015, Myrtle Beach ranked as the second fastest growing MSA in the nation from July 2013 through July 2014.

NEW CONSTRUCTION
WMT and the neighboring shops at Farrows Common shopping center have an expected commencement date of June 2016.

DRIVE THRU PHARMACY, FUEL STATIONS AND 24 HOUR STORE
This WMT location has a dedicated gas station and drive-thru pharmacy component as well as 24 hour operating hours. This not only provides convenience to customers, it adds higher and better use intrinsic value to the income property.

EXCELLENT RESIDUAL VALUE
WMT has invested millions in the development of this property and shown their strong desire to be in this location. If WMT were to ever vacate, the landlord would be able to recapture the building WMT paid to construct and either sell the property or re-lease to another tenant.

NEIGHBORING ATTRACTIONS
Myrtle Beach attracts 15MM annual visitors to 60 coastline miles of beaches and over 100 championship golf courses.

Research

3650 Walton Drive, Myrtle Beach, SC 29577 (Horry County)

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