Walmart Shadow Center

Walmart Shadow Center

100-200 Hornbeck Rd.
Morgantown, WV

Price: $5,080,000
Cap: 8.00%
NOI: $406,157
Building Size: 24,416 SF
Lot Size: 2.48 AC

Investment Highlights

• The subject property is a 24,416 square foot retailc center shadow anchored by a high performing Walmart and located in Morgantown, WV – the home of West Virginia University
• Stabilized at 95% occupancy, with upside opportunities
• 52% of shopping center is Dollar Tree and West Virginia University Healthcare
• Located just 10 minutes from WVU Campus
• Walmart Shadow Anchor since 2008 | Walmart owns the Walmart Real Estate
• Shopper’s World sees 1.9M annual visits
• The center sees a high number of visits from a 30-Mile Trade Area
• This ranks as the #1 (of 7) most visited shopping center in a 5-Mile radius (
• Interstate Location | Property is located just off Interstate 68 which sees 50,000+ Vehicles Per day
• The two anchor tenants of this shopping center are Dollar Tree and WVU Healthcare, which comprise 52% of the center
• The West Virginia University Health System is the state’s largest health system and largest private employer
• The health system (guarantor of this lease), has over 20 locations, 21,720 employees and 1,843 beds
• Tenant has made a significant investment into the buildout of this location, and drives much of its traffic as the “off-campus” site for WVU Medical, saving patients travel & traffic time
• 43% National Tenants | Dollar Tree, State Farm, and Gamestop
• Dollar Tree and Gamestop are original tenants since 2008, while State Farm just executed a new 5-year lease in January of 2024
• Average Tenant Tenure: 8 Years
• Value-Add Opportunities
• 1 Shop Vacancy (5% of Center ) | Suite is “turn key” with a completed build out for Barber Shop — Buyer would incur no TI cost backfilling with new operator.
• Nail Salon Tenant is on a month to month lease paying $13/SF | Option to extend tenant on a longer lease or backfill with new operator with full Nail Salon build out in place.
• Average Rent for all shops is $20.95 | Estimated rent for backfilled suites is $22/SF

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