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Walmart Neighborhood Market 2520 Cuthbertson Rd 41,356 SF Retail Building Waxhaw, NC 28173 $6,627,000 ($160.24/SF) 4.15% Cap Rate
Investment Highlights
- INVESTMENT GRADE WALMART GUARANTY (S&P: AA)
- LONG-TERM LEASE WITH EMBEDDED GROWTH
- AFFLUENT, HIGH-GROWTH CHARLOTTE SUBMARKET
Executive Summary
HIGH-CREDIT, ZEROMANAGEMENT GROUND LEASE
- Absolute NNN ground lease with no landlord responsibilities and all improvements owned by Walmart, minimizing capex exposure and operational risk
INVESTMENT GRADE WALMART GUARANTY (S&P: AA)
- Corporate lease backed by one of the strongest credits in retail, with unmatched scale, recession resilience, and essential-use tenancy
STRONG INFILL POSITIONING WITH BARRIERS TO ENTRY
- Established retail corridor with limited new supply, strong surrounding residential density, and traffic counts exceeding 45,000 VPD at the intersection
AFFLUENT, HIGH-GROWTH CHARLOTTE SUBMARKET
- Located in Waxhaw, one of the fastest-growing and highest-income areas in the Charlotte MSA, with $175K+ average household incomes supporting sustained grocery demand
CORE GROCERYANCHORED RETAIL LOCATION
- Purpose-built Walmart Neighborhood Market serving daily needs (grocery, pharmacy), positioned within a dominant retail node alongside Lowe’s and national tenants
LONG-TERM LEASE WITH EMBEDDED GROWTH
- 9 years remaining on the initial term plus 12 × 5-year options (60 years) with 5% rent increases each option period, creating a predictable long-term cash flow profile
- Absolute NNN ground lease with no landlord responsibilities and all improvements owned by Walmart, minimizing capex exposure and operational risk
INVESTMENT GRADE WALMART GUARANTY (S&P: AA)
- Corporate lease backed by one of the strongest credits in retail, with unmatched scale, recession resilience, and essential-use tenancy
STRONG INFILL POSITIONING WITH BARRIERS TO ENTRY
- Established retail corridor with limited new supply, strong surrounding residential density, and traffic counts exceeding 45,000 VPD at the intersection
AFFLUENT, HIGH-GROWTH CHARLOTTE SUBMARKET
- Located in Waxhaw, one of the fastest-growing and highest-income areas in the Charlotte MSA, with $175K+ average household incomes supporting sustained grocery demand
CORE GROCERYANCHORED RETAIL LOCATION
- Purpose-built Walmart Neighborhood Market serving daily needs (grocery, pharmacy), positioned within a dominant retail node alongside Lowe’s and national tenants
LONG-TERM LEASE WITH EMBEDDED GROWTH
- 9 years remaining on the initial term plus 12 × 5-year options (60 years) with 5% rent increases each option period, creating a predictable long-term cash flow profile
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
41,356 SF
Building Class
B
Year Built
2014
Price
$6,627,000
Price Per SF
$160.24
Cap Rate
4.15%
NOI
$275,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
5.35 AC
Zoning
AB0
Parking
148 Spaces (3.58 Spaces per 1,000 SF Leased)
Frontage
633’ on Providence Rd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 41,356 SF
- -
- Jan 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 End | ||
|
|
Retailer | 41,356 SF | - | Jan 2035 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-162-023 | Improvements Assessment | $3,013,000 |
| Land Assessment | $2,753,100 | Total Assessment | $5,766,100 |
Property Taxes
Parcel Number
06-162-023
Land Assessment
$2,753,100
Improvements Assessment
$3,013,000
Total Assessment
$5,766,100
Contacts
-
David Hoppe -
Eric Suffoletto -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
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