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Shopping Neighborhood

Walmart Plaza

929 Keyser Ave, Natchitoches, LA 71457

Listing Price: $8,020,000

Cap Rate
8.31%
Gross SF
45,850
Rentable SF
45,850
Price/Gross SF
$174.92
Lot Size
4.40 acres
Year Built
2001

Investment Overview

Marcus & Millichap is pleased to present Walmart Plaza, a 45,850 square-foot shopping center located in Natchitoches, Louisiana. Built in 2001, this asset is situated on 4.41 acres and is shadow-anchored by the only Walmart servicing a 30-mile radius. The subject property is currently 100 percent occupied by a strong mixture of national and local tenants, which encompass Cellular, Discount Clothing, Footwear, Sporting Goods, Food, Beauty, Rent-to-Own, and convenience retailers. Prominent tenants include AT&T, The Shoe Dept, T-Mobile, Sally Beauty, Rainbow, Hibbett Sports, Ace Tobacco, CPR, Rent-A-Center and Lucky Village Chinese Buffet. 62 percent of the current tenant base has been at the site for over 10-years, and weighted average lease term is roughly 3.15 years. Majority of tenants are encumbered by triple net leases which cover TAX, CAM and Insurance expenses. These triple-net (NNN) reimbursements leave minimal landlord expenses, and the small tenant base allows for ease of management. Investors may take advantage of this opportunity to enhance their retail portfolio’s by adding a quality, diversified shopping center with a prime location. The subject property is located in Natchitoches, Louisiana, directly off Keyser Avenue, which sees over 19,169 vehicles per day. With irreplaceable real estate, this asset is situated as an outparcel to the only Walmart within in a 30-mile radius, and less than two miles from the Northwestern State University of Louisiana. NSU has an annual enrollment of just under 11,000 students which boosts both the local economy and retail sales, especially the Walmart. It is estimated that this Walmart sees over 220,000 visitors per month, which makes it the most traveled location in the state of Louisiana. A byproduct of this strong shadow-anchor is extremely high exposure and consistently high foot-traffic at adjacent properties. Nearby retailers include Chili’s, Burger King, Sonic, Pizza Hut, Tractor Supply, Verizon, AutoZone, McDonald’s, Super 1 Foods, Raising Canes, Dollar General, and Parkway Cinema 6. Demographics are stable and mature with 4,920 residents within one-mile, 19,061 within three-miles, and 22,811 within five-miles. Average Household Income is above the national average at $50,986 within one-mile and $46,024 within five-miles. Natchitoches is a small city and the parish seat of Natchitoches Parish, Louisiana, United States.

Investment Highlights

  • 100 Percent Occupied 45,850 Square-Foot Shopping Center in Natchitoches, Louisiana
  • Shadow-Anchored Walmart | Only Walmart within a 30-Mile Radius | Over 220,000 Monthly Visitors which Ranks in the Top 15 Percent in the Nation per Placer.Ai
  • Complimentary Tenant Mix | Mixture of National, Regional and Local Brands
  • Major Tenants Include: AT&T, T-Mobile, Sally Beauty, Rainbow, Hibbett Sports, Ace Tobacco, Rent-A-Center and Lucky Village
  • 62 Percent of GLA has Been at Site for Over 10-Years | WALT = 3.15-Years | Prominent Rent Bumps in Options
  • Recent Lease Signings Indicate an Upward Trajectory in Rent per Square-Foot | T-Mobile (12/2021 Commencement), CPR (8/2021 Commencement), Ace Tobacco (TBD Commencement), and Cricket (2/2019 Commencement) All Surpassed the $20 per Square-Foot Mark | 30 Percent Premium in Rent Relative to Rest of Tenant Base
  • Majority of Tenants Encumbered by Triple-Net (NNN) Leases | Reimbursement for Majority of Tax, CAM, and Insurance + Some MGMT Expenses
  • Irreplaceable Real Estate Along Keyser Ave | Less Than 1.5 Miles from Northwestern State University of Louisiana (11,000+ Students)

Exclusively Listed By

Shopping Neighborhood

Walmart Plaza

Listing Price: $8,020,000

Cap Rate
8.31%
Gross SF
45,850
Rentable SF
45,850
Price/Gross SF
$174.92
Lot Size
4.40 acres
Year Built
2001

Investment Highlights

  • 100 Percent Occupied 45,850 Square-Foot Shopping Center in Natchitoches, Louisiana
  • Shadow-Anchored Walmart | Only Walmart within a 30-Mile Radius | Over 220,000 Monthly Visitors which Ranks in the Top 15 Percent in the Nation per Placer.Ai
  • Complimentary Tenant Mix | Mixture of National, Regional and Local Brands
  • Major Tenants Include: AT&T, T-Mobile, Sally Beauty, Rainbow, Hibbett Sports, Ace Tobacco, Rent-A-Center and Lucky Village
  • 62 Percent of GLA has Been at Site for Over 10-Years | WALT = 3.15-Years | Prominent Rent Bumps in Options
  • Recent Lease Signings Indicate an Upward Trajectory in Rent per Square-Foot | T-Mobile (12/2021 Commencement), CPR (8/2021 Commencement), Ace Tobacco (TBD Commencement), and Cricket (2/2019 Commencement) All Surpassed the $20 per Square-Foot Mark | 30 Percent Premium in Rent Relative to Rest of Tenant Base
  • Majority of Tenants Encumbered by Triple-Net (NNN) Leases | Reimbursement for Majority of Tax, CAM, and Insurance + Some MGMT Expenses
  • Irreplaceable Real Estate Along Keyser Ave | Less Than 1.5 Miles from Northwestern State University of Louisiana (11,000+ Students)

Investment Overview

Marcus & Millichap is pleased to present Walmart Plaza, a 45,850 square-foot shopping center located in Natchitoches, Louisiana. Built in 2001, this asset is situated on 4.41 acres and is shadow-anchored by the only Walmart servicing a 30-mile radius. The subject property is currently 100 percent occupied by a strong mixture of national and local tenants, which encompass Cellular, Discount Clothing, Footwear, Sporting Goods, Food, Beauty, Rent-to-Own, and convenience retailers. Prominent tenants include AT&T, The Shoe Dept, T-Mobile, Sally Beauty, Rainbow, Hibbett Sports, Ace Tobacco, CPR, Rent-A-Center and Lucky Village Chinese Buffet. 62 percent of the current tenant base has been at the site for over 10-years, and weighted average lease term is roughly 3.15 years. Majority of tenants are encumbered by triple net leases which cover TAX, CAM and Insurance expenses. These triple-net (NNN) reimbursements leave minimal landlord expenses, and the small tenant base allows for ease of management. Investors may take advantage of this opportunity to enhance their retail portfolio’s by adding a quality, diversified shopping center with a prime location. The subject property is located in Natchitoches, Louisiana, directly off Keyser Avenue, which sees over 19,169 vehicles per day. With irreplaceable real estate, this asset is situated as an outparcel to the only Walmart within in a 30-mile radius, and less than two miles from the Northwestern State University of Louisiana. NSU has an annual enrollment of just under 11,000 students which boosts both the local economy and retail sales, especially the Walmart. It is estimated that this Walmart sees over 220,000 visitors per month, which makes it the most traveled location in the state of Louisiana. A byproduct of this strong shadow-anchor is extremely high exposure and consistently high foot-traffic at adjacent properties. Nearby retailers include Chili’s, Burger King, Sonic, Pizza Hut, Tractor Supply, Verizon, AutoZone, McDonald’s, Super 1 Foods, Raising Canes, Dollar General, and Parkway Cinema 6. Demographics are stable and mature with 4,920 residents within one-mile, 19,061 within three-miles, and 22,811 within five-miles. Average Household Income is above the national average at $50,986 within one-mile and $46,024 within five-miles. Natchitoches is a small city and the parish seat of Natchitoches Parish, Louisiana, United States.

Exclusively Listed By

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