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ADDRESS
1002 N Spence Ave, NC 27534
PRICE -
SQ FEET 32,239
CAP RATE -
LEASE TERM -
DOWNLOAD OMExtremely High-Performing Walmart Supercenter
$91,000,000+ in store sales in 2023, showing consistent year-over-year growth and making this one of Walmart’s top-performing locations.
Low Rent-to-Sales Ratio of Walmart Supercenter
Walmart Supercenter Rent-to-Sales Ratio is 0.4% and Walmart Supercenter is paying $2.52 per SF, significantly below market rent.
Value-Added Opportunity
This exceptionally low rent, combined with Walmart’s strong sales performance, offers investors a valuable opportunity to capitalize on future rental growth or percentage rent increases.
Strategic Market Positioning
Located along a prime retail corridor with over 100,000 vehicles passing daily, this property benefits from high visibility and consistent consumer traffic.
Strong Mix of National and Local Tenants
The shopping center is fully leased to a mix of national and regional tenants such as Jewelry Unlimited, Dollar Tree, Brooklyn Pizza, Gamestop, Cricket Wireless, Century Finance, Wells Fargo and others. The center is 100% occupied, providing immediate income and further enhancing the property’s value.
Affluent Demographics
The property is located in an affluent area with an average household income of $65,215 within 1 mile, and a population of 45,000+ within
5 miles, contributing to strong consumer demand and retail success.
Well-Maintained Property
Recently painted, with a restriped parking lot and a roof warranty, the property is well-maintained, minimizing near-term maintenance costs and preserving long-term value.
1002 N Spence Ave, NC 27534
1002 N Spence Ave, NC 27534
1002 N Spence Ave, NC 27534