August 28, 2024 – Greg Moore and Monique Maldonado of Horvath & Tremblay have successfully completed the sale of a Walmart Neighborhood Market in Ashland, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $9,050,000.
Walmart Neighborhood Market is located at 9714 Sliding Hill Road in Ashland, Virginia. The stand-alone Walmart Neighborhood Market was constructed in 2014 and has 10+ years remaining on a Modified Triple Net (NNN) Lease with four (4), 5-Year Renewal Options. The Modified Triple Net (NNN) Lease features attractive 10% rent increases in the first two renewal options and 5% increases in the second two renewal options. The Property includes a Gas Station and a Pharmacy with Drive Through, as well as a 15-Year Roof Warranty. The Property enjoys excellent visibility and access along Sliding Hill Road (VA Route 656), one of the area’s primary commercial and commuter corridors. Walmart Neighborhood Market offers convenient access to the area’s busiest roadways including US Route 1, VA Route 657, and Interstate 95. The Property is surrounded to the north by a large industrial district that parallels Interstate 95 and is within 2-miles of a busy retail corridor lined with national retailers and restaurants all of which drive traffic to the area. Additionally, the area is home to densely populated residential neighborhoods that provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.