3650 Walton Drive
Myrtle Beach, SC 29577 ·
45,778 SF · Retail For Sale
Walmart Neighborhood Market Ground Lease
|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|
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.
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.
Myrtle Beach attracts 15MM annual visitors to 60 coastline miles of beaches and over 100 championship golf courses.
3650 Walton Drive, Myrtle Beach, SC 29577 (Horry County)
Myrtle Beach Market Trends - Asking price index trends, sale price trends, asking rent trends
4400 N Kings Hwy
Myrtle Beach, SC 29577
For Sale · Price Not Disclosed
46,564 SF Building
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