Walmart - Giddings, TX

Asset Type

Retail

Address
2374 E Austin St Giddings, TX United States 78942-3644
Asking Price

S$4,702,000

Sq Footage

48,236

Year Built

1983

Cap Rate

7.25%

Additional Attributes
Current / Passing Rent S$340,900
Lease Expiration 2024-01-31
Lease Type NNN
Options 2 x 5 Years
Tenant Walmart

Property Description

The property sits along Austin Street (21,000 VPD), a highly trafficked retail thoroughfare and a portion of US Highway 290, the primary highway connecting Austin and Houston. Walmart is operating on an absolute triple-net lease structure with more than four years of primary term remaining, absolutely zero landlord responsibilities, and two, five-year renewal options. Walmart has operated at this location since 1984 and has exercised several renewal options, reflecting its success and its long-term commitment to the Property. This offering presents the opportunity to acquire a property leased to an investment-grade and industry-leading retailer on a triple net lease structure with a 36-year operating history at this location.

Investment Highlights

·      World’s largest retailer with $514 billion in annual revenue and 11,300 retail locations

·      Investment grade (S&P: ‘AA’) tenancy and greater financial security to the underlying cash flows

·      Walmart has occupied since 1984 and has exercised numerous renewal options

·      Absolute NNN lease with zero landlord responsibilities

·      Only big-box retailer & grocer in Giddings; provides Walmart with exclusive market share



Listing Contacts
Pierce Owens
Pierce Owens
SVP
+65 3159 4021
TX - 510337
Donna Kolius
Donna Kolius
EVP, Retail Brokerage
+65 3159 4021
TX - 309164
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