Maysville Walmart Shadow Center

Maysville | Kentucky

Maysville Walmart Shadow Center

191-219 Wal Mart Way Maysville, KY 41056

Offering Summary

  • Status: under contract
  • Price: $9,875,000
  • CAP Rate: 7.75%
  • GLA: 69,413 SF
  • Net Operating Income: $765,133
  • Price/SF: $142
  • Year(s) Built: 2004
  • Lot Size (Acres): 9.76
  • Major Tenants: Marshalls, Dollar Tree, Nails Pro, Cato, Hibbet Sports
  • 100% Occupied, 69,413 SF Walmart-Shadowed 3-Building Retail Center in Maysville, KY
  • Shadowed by Walmart Supercenter with 2.6 Million Annual Customer Visits
  • Walmart is the #1 Traffic Driving Destination in a 30-Mile Radius and #1 of 2 Walmarts in a 30-Mile Radius
  • Anchored by Marshalls (33% of GLA) – New 10-Year NNN Lease in 2022 with August 2032 Expiration, TJX “A” Credit
  • 98% of GLA Leased to National or Regional Tenants (14 of 15 Tenants)
  • 1.89% NOI CAGR Projected Over 10-Year Hold
  • All Tenants Leased to NNN Terms with Strong 95.5% Recovery of LL Tax/Ins/CAM Expenses
  • Replaceable Rents Averaging $11.82/SF NNN with Low Tax/Ins/CAM Expenses Totaling $1.54/SF; Low Tenant Occupancy Costs
  • Outstanding Tenant Longevity and High Historical Occupancy:
  • 9 of 15 Tenants (60%) In-Place Since Original 2004-2006 Construction
  • 11 of 15 Tenants (73%) In-Place for 15+ Years
  • Since 2009, Only 2 of the 12 Small-Shop Units Have Turned Over (2017 & 2023, Both Re-Leased to National/Regional Retailers)
  • Strong Roster of Daily Needs Tenants Including Dollar Tree, Cato, Hibbett Sports, GameStop, T-Mobile, Great Clips, H&R Block, Sleep Outfitters, Penn Station Subs, and More
  • Situated KY Route AA with 15,400 VPD – Area’s Primary East-West Arterial; Prominent Pylon Signage Located at Entrance Drive
  • Large 9.76-Acre Parcel with Ample Parking On-Site – Fully Independent from Walmart Parcel with No REA/OEA/Parking Agreement with WMT
  • Majority of Parking Lot Resurfaced and Striped in 2022
  • Part of the Larger Maysville Crossing Shopping Center Seeing 3.5 Million Annual Visits – Large-Radius Regional Draw with Only One-Third of Annual Visits Originating from the Local ZIP Code
  • Located Amongst the Region’s Primary Retail Corridor Adjacent to Numerous Freestanding Retailers & Restaurants, and within Immediate Proximity to Kroger, Lowe’s, Rural King, Tractor Supply, Hobby Lobby, and More
  • Maysville, KY – County Seat of Mason County, KY & Situated on the Ohio River; Supportive Demographics with Nearly 10K 1-Mile Population and $65K+ AHHI in All Radius Rings
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director