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Department Store

Walmart Supercenter

100 Mall Dr, Steubenville, OH 43952

Listing Price: $13,950,000

Cap Rate
4.67%
Tenant Name
Walmart
Years Remaining On Lease
10.9
Gross SF
209,621
Guarantor
Corporate Guarantee
Rentable SF
209,621
Price/Gross SF
$66.55
Lease Type
NNN Ground Lease
Rent Per Square Feet
$3.24

Investment Overview

Marcus and Millichap is pleased to offer the opportunity to acquire a 209,621-square-foot triple-net (NNN) single-tenant Walmart Supercenter. The property is located on the eastern side of the approximately 800,000-square-foot Fort Steuben Mall at 100 Mall Drive in Steubenville, Ohio, with Dick's Sporting and Goods and JC Penney as anchor tenants. The property sits between Lovers Lane and John Scotts Highway with traffic counts of 40,365 and 21,217 respectively. The subject property is located less than two miles from Highway 22 which provides direct access to and from Pittsburgh, Pennsylvania, 35 minutes east. Steubenville is at the three-state juncture of Ohio, West Virginia, and Pennsylvania. The location benefits from a population of over 41,000 people within a five-mile radius and an average household income of $63,000. Walmart has been at this location since 2002 and just extended its lease to August 31, 2032. Additionally, Walmart Inc. developed an 880,000 square foot distribution center 6 miles north of Steubenville, employing more than 600 people.

Investment Highlights

  • Absolute Triple-Net (NNN) Ground Lease with 11 Years Remaining on Lease
  • Investment Grade Tenant and the Largest Public Corporation by Revenue with Fiscal Year 2021 Revenue of $559 Billion
  • Walmart Completely Renovated the Façade and Parking Lot in 2019
  • Main Grocer in the Market
  • Strong Traffic Counts of 20,6222 and 40,364
  • Corporate Guaranty
  • Located Two Miles from 880,000 SF Walmart Distribution Center
  • Strong Performing Walmart: 85th percentile of all Walmarts nationwide

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Department Store

Walmart Supercenter

Listing Price: $13,950,000

Cap Rate
4.67%
Tenant Name
Walmart
Years Remaining On Lease
10.9
Gross SF
209,621
Guarantor
Corporate Guarantee
Rentable SF
209,621
Price/Gross SF
$66.55
Lease Type
NNN Ground Lease
Rent Per Square Feet
$3.24

Investment Highlights

  • Absolute Triple-Net (NNN) Ground Lease with 11 Years Remaining on Lease
  • Investment Grade Tenant and the Largest Public Corporation by Revenue with Fiscal Year 2021 Revenue of $559 Billion
  • Walmart Completely Renovated the Façade and Parking Lot in 2019
  • Main Grocer in the Market
  • Strong Traffic Counts of 20,6222 and 40,364
  • Corporate Guaranty
  • Located Two Miles from 880,000 SF Walmart Distribution Center
  • Strong Performing Walmart: 85th percentile of all Walmarts nationwide

Investment Overview

Marcus and Millichap is pleased to offer the opportunity to acquire a 209,621-square-foot triple-net (NNN) single-tenant Walmart Supercenter. The property is located on the eastern side of the approximately 800,000-square-foot Fort Steuben Mall at 100 Mall Drive in Steubenville, Ohio, with Dick's Sporting and Goods and JC Penney as anchor tenants. The property sits between Lovers Lane and John Scotts Highway with traffic counts of 40,365 and 21,217 respectively. The subject property is located less than two miles from Highway 22 which provides direct access to and from Pittsburgh, Pennsylvania, 35 minutes east. Steubenville is at the three-state juncture of Ohio, West Virginia, and Pennsylvania. The location benefits from a population of over 41,000 people within a five-mile radius and an average household income of $63,000. Walmart has been at this location since 2002 and just extended its lease to August 31, 2032. Additionally, Walmart Inc. developed an 880,000 square foot distribution center 6 miles north of Steubenville, employing more than 600 people.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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