Walmart Neighborhood Market
2399 N Perkins Rd
Stillwater, OK 74075
PROPERTY SOLD
Property: Investment Sales
Square Footage: +/- 42,311
Acreage: +/- 4.619
Price: $3,284,211
Cap Rate: 4.75%
Anchor Tenants: Academy Sports + Outdoors
Description:
- New Construction, 15-Year Lease – Brand new 15-year lease that commenced in May 2016.
- Extremely Strong Corporate Guaranty – Lease guaranteed by Wal-Mart Stores East, LP, a subsidiary of Wal-Mart Stores, Inc. with Standard & Poor’s rating of AA and Moody’s rating of Aa2.
- Absolute Net Lease Structure – Zero landlord responsibility throughout the base lease or option periods.
- Preferential Tax Treatment – Property features six-pump fueling station. This portion of the asset could potentially qualify for Accelerated
Depreciation*. - Growth Concept – Walmart Neighborhood Market is a key growth concept for the World’s #1 Retailer.
- Excellent Investment Fundamentals – Superior credit, real estate economics and lease structure compared to other available net lease investments.
- Core University Location Serves 25,000+ Students – The Property is approximately two miles from Oklahoma State University, which has over
25,000 students and 6,000 employees. - Excellent Retail Trade Area – Property benefits from numerous positive attributes, including brand new construction, good positioning/visibility on Perkins Street, quality of the Lakeview Pointe development and proximity of other national retailers.
