Walmart Shadow Center

Walmart Shadow Center

3101 W Market Street
Johnson City, TN

Price: $7,785,000
Cap: 7.00%
NOI: $544,673
Building Size: 40,760 SF
Lot Size: 5.28 AC

Investment Highlights

WALMART SUPERCENTER SHADOW CENTER
• The subject property is a 40,760 SF Walmart Supercenter shadow anchored retail center located in Johnson City, TN
• The property offers a stabilized investment at 94% occupancy and includes national brands such as Dollar Tree, CATO, Sally Beauty, GameStop, Great Clips, & more
• Weighted Average Lease Term Remaining: 4.66 Years
• Average Tenant Tenure: 10 Years
• Leasing Momentum: 2 new leases & 4 renewal in the last 12 months (52.44% of total GLA)

STRATEGIC LOCATION
• This Center is Shadow Anchored by a high-performing Walmart since 2006 (Walmart owns the Walmart)
• Located just off Interstate 381, this Walmart serves as the primary Walmart to Johnson City
• Ideally situated on the high traffic corridor of West Market Street (27,483) & I-381 (31,372 VPD)
• Located in retail corridor | 1.2M SF of retail in 2-mile radius

JOHNSON CITY MEDICAL CENTER | EAST TENNESSEE STATE UNIVERSITY
• Property is located 2 miles from East Tennessee State University, the fourth largest university in the state of Tennessee
• ETSU enrolls 17,000+ students & employs 800+ academic staff
• The property is less than 2 miles from Johnson City Medical Center, a major medical facility in the Tri-Cities with 2,300 employees & 531 beds
• Johnson City Medical center is a Level 1 Trauma Center and one of the 3 major hubs of regional provider Ballard Health
• The hospital serves as a teaching hospital for numerous institutions, including the adjacent East Tennessee State University

IDEAL DEMOGRAPHICS
• 5-Mile Population: 74,047
• 5-Mile AVG. Household Income: $75,920
• Population Growth: 2.03%

JOHNSON CITY, TN
• Johnson City, TN is the eighth largest city in Tennessee and is a component of the Tri-Cities Region
• Downtown Johnson City is a vibrant place with great restaurants, shopping, urban living, office space, culture, entertainment, and a unique history.
• Tremendous redevelopment has taken place in downtown Johnson City over the past several years, bringing new investment, activity, and growth.

TRI-CITIES, TN
• The Tri-Cities is the region comprising the cities of Kingsport, Johnson City, and Bristol and the surrounding smaller towns and communities in Northeast Tennessee and Southwest Virginia.
• The Tri-Cities region is the sixth largest population center in Tennessee
• Home to Eastman Chemical Company, a Fortune 500 corporate headquarters, the Tri-Cities area is internationally known for high quality products and corporate innovation
• A strong manufacturing employment base, health care and education are important core sectors for the Tri-Cities.

Zach Taylor
Eric Abbott
OFFERING MEMORANDUM

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