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Shopping Strip

Walmart Shadow Center

3517 Victory Dr, Columbus, GA 31903

Listing Price: $6,295,000

Cap Rate
7.50%
Gross SF
21,106
Rentable SF
21,106
Price/Gross SF
$298.26
Lot Size
2.02 acres
Year Built
2016

Investment Overview

2016 CONSTRUCTION WALMART SHADOW CENTER
• The subject property is a 45,000 square foot Walmart shadow-anchored retail center located in Columbus, GA
• The center was built in 2016, and as a result roof, parking lot, and HVACs are in excellent condition requiring minimal capex investment from a buyer
• The center is leased to strong national tenants such as Hibbett, Verizon, T-Mobile, Little Caesars, and Cricket Wireless
• This center is shadow anchored by a high-performing Walmart since 2017 | Walmart owns the Walmart Real Estate

DOMINANT SHOPPING CENTER IN THE MARKET | HIGH FOOT TRAFFIC
• With 2.3M annual visits, Victory Square Shopping Center ranks as the #2 most visited neighborhood shopping center in a 50-Mile Radius (total of 26 properties)
• Walmart ranks in the top 34% of all Walmart’s in Georgia
• Little Caesar’s ranks in the top 1% (8/3,539) of all locations in the nation

POSITIONED AT THE HEART OF MAIN CORRIDOR OF COLUMBUS
• The center is located off Victory Drive, the main thoroughfare of Columbus
• Victory Drive (US-280) sees 25,900 vehicles per day
• Limited Retail Competition | This is a newer developed area of Columbus, with limited retail competition in the surrounding area
• Anchor Point, a 416 Unit apartment complex is located directly behind the center and is among the 2,000+ additional multifamily units in the surrounding 1-mile radius of the property

TENANT PERFORMANCE | STABLE INVESTMENT
• The center was built in 2016, and all but 2 tenants are original (87% of total GLA)
• The remaining tenants were signed in 2020, each executing 10-Year leases
• Each of the remaining 8 tenants have executed renewals since initial term has expired
• Due to the limited shop space in the market, this center receives tremendous tenant interest as the retailers here perform exceptionally well

Investment Highlights

  • 2.3M Annual Visits #2 Shopping Center In 50-Mile Radius
  • 87% Of Center Original Tenants All Have Renewed Leases
  • 50% National Tenant Lineup
  • Recent 2016 Construction No CapEx Concerns
  • Located On Main Throughfare In Columbus | 26K VPD
  • 416 Apartments Next Door | 2,000 Within One Mile

Exclusively Listed By

Financing By

Shopping Strip

Walmart Shadow Center

Listing Price: $6,295,000

Cap Rate
7.50%
Gross SF
21,106
Rentable SF
21,106
Price/Gross SF
$298.26
Lot Size
2.02 acres
Year Built
2016

Investment Highlights

  • 2.3M Annual Visits #2 Shopping Center In 50-Mile Radius
  • 87% Of Center Original Tenants All Have Renewed Leases
  • 50% National Tenant Lineup
  • Recent 2016 Construction No CapEx Concerns
  • Located On Main Throughfare In Columbus | 26K VPD
  • 416 Apartments Next Door | 2,000 Within One Mile

Investment Overview

2016 CONSTRUCTION WALMART SHADOW CENTER • The subject property is a 45,000 square foot Walmart shadow-anchored retail center located in Columbus, GA • The center was built in 2016, and as a result roof, parking lot, and HVACs are in excellent condition requiring minimal capex investment from a buyer • The center is leased to strong national tenants such as Hibbett, Verizon, T-Mobile, Little Caesars, and Cricket Wireless • This center is shadow anchored by a high-performing Walmart since 2017 | Walmart owns the Walmart Real Estate DOMINANT SHOPPING CENTER IN THE MARKET | HIGH FOOT TRAFFIC • With 2.3M annual visits, Victory Square Shopping Center ranks as the #2 most visited neighborhood shopping center in a 50-Mile Radius (total of 26 properties) • Walmart ranks in the top 34% of all Walmart’s in Georgia • Little Caesar’s ranks in the top 1% (8/3,539) of all locations in the nation POSITIONED AT THE HEART OF MAIN CORRIDOR OF COLUMBUS • The center is located off Victory Drive, the main thoroughfare of Columbus • Victory Drive (US-280) sees 25,900 vehicles per day • Limited Retail Competition | This is a newer developed area of Columbus, with limited retail competition in the surrounding area • Anchor Point, a 416 Unit apartment complex is located directly behind the center and is among the 2,000+ additional multifamily units in the surrounding 1-mile radius of the property TENANT PERFORMANCE | STABLE INVESTMENT • The center was built in 2016, and all but 2 tenants are original (87% of total GLA) • The remaining tenants were signed in 2020, each executing 10-Year leases • Each of the remaining 8 tenants have executed renewals since initial term has expired • Due to the limited shop space in the market, this center receives tremendous tenant interest as the retailers here perform exceptionally well

Exclusively Listed By

Financing By

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