Walmart - Giddings, TX

2374 E Austin St Giddings , TX 78942-3644

Walmart - Giddings, TX - retail for sale

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Overview



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



General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 2374 E Austin St, Giddings, TX 78942-3644
Land in acres 6.22
Building size 48,236  ft2
Year built 1983
Financial
Price $3,431,700
Cap rate 7.25%
Current NOI $248,798.00
Lease
Tenant's name Walmart
Lease type NNN
Annual rent $248,798.00
Lease expiration date 01/31/2024
Remaining term 4.4Yrs

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