Tenant
Single Tenant ___________
ABSOLUTE NNN
REPRESENTATIVE PHOTO
INVESTMENT OPPORTUNITY
SAN ANTONIO, TEXAS
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
TABLE OF CONTENTS | 2
TABLE OF CONTENTS INVESTMENT SUMMARY..........................3 HIGHLIGHTS...........................................4 PROPERTY DESCRIPTION........................5 AERIAL VIEW & SITE PLAN......................6 AREA OVERVIEW................................... 10 RENT ROLL........................................... 11
This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has
is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for
MATTHEW MOUSAVI | Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660 DL: 949.698.1116 | M: 714.404.8849
reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to
[email protected] | License No. 01732226
reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The
PATRICK R. LUTHER, CCIM | Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660 DL: 949.698.1115 | M: 480.221.4221
been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary
projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment. REPRESENTATIVE PHOTO
EXCLUSIVELY MARKETED BY
[email protected] | License No. 01209944
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS WALMART NEIGHBORHOOD MARKET - SAN ANTONIO, TEXAS SRS National Net Lease Group is pleased to present the rare opportunity to acquire the fee simple interest (land & building) in a freestanding, absolute net leased, corporate guaranteed, Walmart Neighborhood Market located in San Antonio, TX. The tenant, Wal-Mart Stores Texas, LLC, signed a brand new 15-year lease, and it is guaranteed by Wal-mart Stores Inc. (NYSE: WMT), which has an investment grade credit rating of AA from Standard & Poor’s. The lease features rental increases throughout the primary term and at the beginning of each 17 (5-year) option period, which generates steady NOI growth and hedges against inflation. Included on the parcel is a freestanding Walmart branded fuel station, adding convenience and additional customer draw.
REPRESENTATIVE PHOTO
The Walmart Neighborhood Market is located at the signalized, hard corner intersection of Moursund Blvd and Pleasanton Rd (23,800 VPD) with excellent visibility. The site is also located near Interstates 26, 37, and 401 (199,000 combined VPD), making it convenient and accessible for a large swath of consumers. This Walmart Neighborhood Market also features a pharmacy, increasing consumer draw for the site. There are more than 201,900 residents with an average household income of $40,700 within 5 miles of the subject property. Additionally, the trade area is supported by more than 59,300 employees within a 5-mile radius.
INVESTMENT SUMMARY | 3 OFFERING Pricing: $11,985,000 Net Operating Income: $599,254 Cap Rate: 5.00% Guaranty: Corporate Credit Rating: S&P: AA Lease Type: Absolute NNN Landlord Responsibilities: None PROPERTY SPECIFICATIONS Rentable Area: Land Area: Property Address: Year Built: Parcel Number: Ownership:
41,117 SF 5.36 Acres 3847 Pleasanton Road, San Antonio, TX 78221 2016 11099-006-0761 Fee Simple (Land & Building)
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
HIGHLIGHTS | 4
BRAND NEW WALMART NEIGHBORHOOD MARKET / ON-SITE FUEL STATION & PHARMACY • Brand new building built with high quality 2016 construction • This Walmart Neighborhood Market features an on-site fuel station that draws in additional consumers at all times of the day • In-store pharmacy further increases consumer draw and provides convenience ABSOLUTE NNN LEASE / FEE SIMPLE OWNERSHIP / ZERO RESPONSIBILITIES • Tenant pays for all CAM, insurance, taxes, and maintains all aspects of the building • No landlord responsibilities • Ideal, management-free investment for an out of state, passive investor SIGNALIZED, HARD CORNER INTERSECTION / HIGHLY TRAFFICKED AREA / NEAR INTERSTATES 26, 37, AND 401 • Located near Interstate 26, 37, and 401 (199,000 combined VPD), providing accessibility and convenience • At signalized, hard corner intersection of Pleasanton Rd and Moursund Blvd (23,800 VPD combined VPD) with excellent street frontage, access, and visibility • Prominent pylon signage further increases visibility for the tenant LONG-TERM WAL-MART STORES, INC. CORPORATE GUARANTEED LEASE / INVESTMENT GRADE NET LEASE OPPORTUNITY • Brand new Wal-Mart Stores, Inc. (NYSE: WMT) corporate guaranteed, 15-year absolute net lease • Investment grade credit rating: S&P: AA • Opportunity to invest in a rapidly growing concept of Wal-Mart Stores, Inc.
REPRESENTATIVE PHOTO
• Ranked #1 in the Fortune 500 STRONG DEMOGRAPHICS WITHIN 5-MILE TRADE AREA • Over 201,900 residents with an average household income of $40,700 • Over 59,300 employees support the trade area
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
PROPERTY DESCRIPTION | 5
PROPERTY DESCRIPTION PARCEL Parcel: 11099-006-0761
Acres: 5.36
Square Feet: 233,482 SF
ZONING C-3: General Commercial District
ACCESS There is a total of three access points with two (2) along Pleasanton Road and one (1) along W. Ansley Street.
TRAFFIC COUNTS Pleasanton Road:..................................................................................................................................18,500 State Highway Loop 13:.........................................................................................................................35,400
IMPROVEMENTS There is approximately 41,117 SF of existing building area. PARKING
REPRESENTATIVE PHOTO
There are approximately 164 parking spaces on the owned parcel. The parking ratio is approximately 3.99 per 1,000 SF of leasable area.
YEAR BUILT 2016
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AERIAL VIEW | 6
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AERIAL VIEW | 7
REPRESENTATIVE PHOTO
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
LOCATION MAP | 8 2015 Estimated Population 1 Mile........................................... 82,043 3 Mile......................................... 201,869
AUSTIN
HOUSTON
2015 Average Household Income 1 Mile......................................... $40,621 3 Mile......................................... $40,681
2015 Estimated Total Employees
SAN ANTONIO
1 Mile........................................... 28,950 3 Mile........................................... 59,356
CORPUS CHRISTI LAREDO
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
SITE PLAN | 9 Pleasanton Rd. 18,500 VPD
Fuel Station Pylon Sign
Moursund Blvd.
W. Ansley St.
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AREA OVERVIEWS | 10
CITY OF SAN ANTONIO
DEMOGRAPHICS
San Antonio is the 7th most populated city in the United States of America and the 2nd most populated city in the state of Texas, with a population of 1,409,019. San Antonio serves as the seat of Bexar County. It was the fastest growing of the top 10 largest cities in the United States from 2000 to 2010. San Antonio’s economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufacturing sector centered around automobiles. San Antonio has a diversified economy with about a $96.8 billion metropolitan Gross Domestic Product. In 2015, San Antonio ranked No. 50 on Forbes’ list of the Best Places for Business and Careers, with a ranking of 15th best market for job growth.
DISTANCE TO POINTS OF INTEREST
3 MILES
4 MILES
3 MILES
6 MILES
South Park Mall
Horizon Airport
Texas A&M University - San Antonio
3 MILES
3 MILES
JBSA Kelly Field Annex
3 MILES
3 MILES
1 Mile
3 Miles
5 Miles
2015 Estimated Population 2020 Projected Population 2010 Census Population 2000 Census Population Projected Annual Growth 2015 to 2020 Historical Annual Growth 2010 to 2015
14,080 14,462 14,025 14,403 0.54% 0.07%
82,043 85,761 80,307 79,542 0.89% 0.41%
201,869 211,148 197,796 193,374 0.90% 0.39%
2015 Estimated Households 2020 Projected Households 2010 Census Households 2000 Census Households Projected Annual Growth 2015 to 2020 Historical Annual Growth 2010 to 2015
4,421 4,552 4,371 4,397 0.59% 0.22%
25,819 27,092 25,049 23,962 0.97% 0.58%
65,843 69,152 63,950 60,724 0.99% 0.56%
75.35% 0.75% 0.32% 0.66% 20.07% 87.63%
73.72% 1.19% 0.27% 1.05% 20.94% 91.81%
74.01% 2.07% 0.31% 1.06% 19.72% 90.35%
2015 Estimated White 2015 Estimated Black or African American 2015 Estimated Asian or Pacific Islander 2015 Estimated American Indian or Native Alaskan 2015 Estimated Other Races 2015 Estimated Hispanic 2015 Estimated Average Household Income 2015 Estimated Median Household Income 2015 Estimated Per Capita Income 2015 Estimated Total Businesses 2015 Estimated Total Employees
$41,291 $34,633 $13,074 200 2,091
$40,621 $40,681 $32,205 $31,353 $12,952 $13,448 2,383 28,950
5,180 59,356
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
RENT ROLL | 11
Walmart Neighborhood Market Walmart Neighborhood Market is a chain of grocery stores introduced in 1998 as a subsidiary of Walmart Stores, Inc., typically around 40,000 square feet and are meant to streamline shopping for consumers. Neighborhood Markets are positioned between Walmart Supercenters and Discount Stores offering a variety of products including a full line of groceries, pharmaceuticals, health and beauty products, photography development services, and a selected line of general merchandise- all at Walmart’s affordable prices. Company Type: Public (NYSE: WMT) 2015 Employees: 2.2 Million
2015 Assets:
$200 Billion
2015 Revenue:
2015 Equity:
$80.5 Billion
Ranking:
#1 FORTUNE 500
$482 Billion
2015 Net Income: $14.7 Billion Tenant Name
Square Feet
Lease Start
Lease End
Begin
Monthly
Annually
Recovery Type
Options: 17 (5-year)
41,117
TBD
15 Years
Current
$49,938
$599,254
Abs. NNN
5% increase at each option
Year 6
$51,436
$617,232
Year 11
$52,979
$635,749
Walmart Neighborhood Market (corporate)
Note: Walmart has a right of first refusal and must respond within 15 days.
FINANCIAL INFORMATION
REPRESENTATIVE PHOTO
Price:..............................................................................................................$11,985,000 Net Operating Income:.......................................................................................... $599,254 Cap Rate:..................................................................................................................5.00% Lease Type:.......................................................................................................Absolute NNN PROPERTY SPECIFICATIONS Address:............................................................3847 Pleasanton Road, San Antonio, TX 78221 Year Built:................................................................................................................... 2016 Land Area:........................................................................................................... 5.36 Acres Parcel Number:........................................................................................... 11099-006-0761
REPRESENTATIVE PHOTO
ABSOLUTE NNN
REPRESENTATIVE PHOTO
INVESTMENT OPPORTUNITY
SAN ANTONIO, TEXAS
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
TABLE OF CONTENTS | 2
TABLE OF CONTENTS INVESTMENT SUMMARY..........................3 HIGHLIGHTS...........................................4 PROPERTY DESCRIPTION........................5 AERIAL VIEW & SITE PLAN......................6 AREA OVERVIEW................................... 10 RENT ROLL........................................... 11
This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has
is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for
MATTHEW MOUSAVI | Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660 DL: 949.698.1116 | M: 714.404.8849
reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to
[email protected] | License No. 01732226
reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The
PATRICK R. LUTHER, CCIM | Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 | Newport Beach, CA 92660 DL: 949.698.1115 | M: 480.221.4221
been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary
projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment. REPRESENTATIVE PHOTO
EXCLUSIVELY MARKETED BY
[email protected] | License No. 01209944
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS WALMART NEIGHBORHOOD MARKET - SAN ANTONIO, TEXAS SRS National Net Lease Group is pleased to present the rare opportunity to acquire the fee simple interest (land & building) in a freestanding, absolute net leased, corporate guaranteed, Walmart Neighborhood Market located in San Antonio, TX. The tenant, Wal-Mart Stores Texas, LLC, signed a brand new 15-year lease, and it is guaranteed by Wal-mart Stores Inc. (NYSE: WMT), which has an investment grade credit rating of AA from Standard & Poor’s. The lease features rental increases throughout the primary term and at the beginning of each 17 (5-year) option period, which generates steady NOI growth and hedges against inflation. Included on the parcel is a freestanding Walmart branded fuel station, adding convenience and additional customer draw.
REPRESENTATIVE PHOTO
The Walmart Neighborhood Market is located at the signalized, hard corner intersection of Moursund Blvd and Pleasanton Rd (23,800 VPD) with excellent visibility. The site is also located near Interstates 26, 37, and 401 (199,000 combined VPD), making it convenient and accessible for a large swath of consumers. This Walmart Neighborhood Market also features a pharmacy, increasing consumer draw for the site. There are more than 201,900 residents with an average household income of $40,700 within 5 miles of the subject property. Additionally, the trade area is supported by more than 59,300 employees within a 5-mile radius.
INVESTMENT SUMMARY | 3 OFFERING Pricing: $11,985,000 Net Operating Income: $599,254 Cap Rate: 5.00% Guaranty: Corporate Credit Rating: S&P: AA Lease Type: Absolute NNN Landlord Responsibilities: None PROPERTY SPECIFICATIONS Rentable Area: Land Area: Property Address: Year Built: Parcel Number: Ownership:
41,117 SF 5.36 Acres 3847 Pleasanton Road, San Antonio, TX 78221 2016 11099-006-0761 Fee Simple (Land & Building)
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
HIGHLIGHTS | 4
BRAND NEW WALMART NEIGHBORHOOD MARKET / ON-SITE FUEL STATION & PHARMACY • Brand new building built with high quality 2016 construction • This Walmart Neighborhood Market features an on-site fuel station that draws in additional consumers at all times of the day • In-store pharmacy further increases consumer draw and provides convenience ABSOLUTE NNN LEASE / FEE SIMPLE OWNERSHIP / ZERO RESPONSIBILITIES • Tenant pays for all CAM, insurance, taxes, and maintains all aspects of the building • No landlord responsibilities • Ideal, management-free investment for an out of state, passive investor SIGNALIZED, HARD CORNER INTERSECTION / HIGHLY TRAFFICKED AREA / NEAR INTERSTATES 26, 37, AND 401 • Located near Interstate 26, 37, and 401 (199,000 combined VPD), providing accessibility and convenience • At signalized, hard corner intersection of Pleasanton Rd and Moursund Blvd (23,800 VPD combined VPD) with excellent street frontage, access, and visibility • Prominent pylon signage further increases visibility for the tenant LONG-TERM WAL-MART STORES, INC. CORPORATE GUARANTEED LEASE / INVESTMENT GRADE NET LEASE OPPORTUNITY • Brand new Wal-Mart Stores, Inc. (NYSE: WMT) corporate guaranteed, 15-year absolute net lease • Investment grade credit rating: S&P: AA • Opportunity to invest in a rapidly growing concept of Wal-Mart Stores, Inc.
REPRESENTATIVE PHOTO
• Ranked #1 in the Fortune 500 STRONG DEMOGRAPHICS WITHIN 5-MILE TRADE AREA • Over 201,900 residents with an average household income of $40,700 • Over 59,300 employees support the trade area
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
PROPERTY DESCRIPTION | 5
PROPERTY DESCRIPTION PARCEL Parcel: 11099-006-0761
Acres: 5.36
Square Feet: 233,482 SF
ZONING C-3: General Commercial District
ACCESS There is a total of three access points with two (2) along Pleasanton Road and one (1) along W. Ansley Street.
TRAFFIC COUNTS Pleasanton Road:..................................................................................................................................18,500 State Highway Loop 13:.........................................................................................................................35,400
IMPROVEMENTS There is approximately 41,117 SF of existing building area. PARKING
REPRESENTATIVE PHOTO
There are approximately 164 parking spaces on the owned parcel. The parking ratio is approximately 3.99 per 1,000 SF of leasable area.
YEAR BUILT 2016
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AERIAL VIEW | 6
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AERIAL VIEW | 7
REPRESENTATIVE PHOTO
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
LOCATION MAP | 8 2015 Estimated Population 1 Mile........................................... 82,043 3 Mile......................................... 201,869
AUSTIN
HOUSTON
2015 Average Household Income 1 Mile......................................... $40,621 3 Mile......................................... $40,681
2015 Estimated Total Employees
SAN ANTONIO
1 Mile........................................... 28,950 3 Mile........................................... 59,356
CORPUS CHRISTI LAREDO
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
SITE PLAN | 9 Pleasanton Rd. 18,500 VPD
Fuel Station Pylon Sign
Moursund Blvd.
W. Ansley St.
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
AREA OVERVIEWS | 10
CITY OF SAN ANTONIO
DEMOGRAPHICS
San Antonio is the 7th most populated city in the United States of America and the 2nd most populated city in the state of Texas, with a population of 1,409,019. San Antonio serves as the seat of Bexar County. It was the fastest growing of the top 10 largest cities in the United States from 2000 to 2010. San Antonio’s economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufacturing sector centered around automobiles. San Antonio has a diversified economy with about a $96.8 billion metropolitan Gross Domestic Product. In 2015, San Antonio ranked No. 50 on Forbes’ list of the Best Places for Business and Careers, with a ranking of 15th best market for job growth.
DISTANCE TO POINTS OF INTEREST
3 MILES
4 MILES
3 MILES
6 MILES
South Park Mall
Horizon Airport
Texas A&M University - San Antonio
3 MILES
3 MILES
JBSA Kelly Field Annex
3 MILES
3 MILES
1 Mile
3 Miles
5 Miles
2015 Estimated Population 2020 Projected Population 2010 Census Population 2000 Census Population Projected Annual Growth 2015 to 2020 Historical Annual Growth 2010 to 2015
14,080 14,462 14,025 14,403 0.54% 0.07%
82,043 85,761 80,307 79,542 0.89% 0.41%
201,869 211,148 197,796 193,374 0.90% 0.39%
2015 Estimated Households 2020 Projected Households 2010 Census Households 2000 Census Households Projected Annual Growth 2015 to 2020 Historical Annual Growth 2010 to 2015
4,421 4,552 4,371 4,397 0.59% 0.22%
25,819 27,092 25,049 23,962 0.97% 0.58%
65,843 69,152 63,950 60,724 0.99% 0.56%
75.35% 0.75% 0.32% 0.66% 20.07% 87.63%
73.72% 1.19% 0.27% 1.05% 20.94% 91.81%
74.01% 2.07% 0.31% 1.06% 19.72% 90.35%
2015 Estimated White 2015 Estimated Black or African American 2015 Estimated Asian or Pacific Islander 2015 Estimated American Indian or Native Alaskan 2015 Estimated Other Races 2015 Estimated Hispanic 2015 Estimated Average Household Income 2015 Estimated Median Household Income 2015 Estimated Per Capita Income 2015 Estimated Total Businesses 2015 Estimated Total Employees
$41,291 $34,633 $13,074 200 2,091
$40,621 $40,681 $32,205 $31,353 $12,952 $13,448 2,383 28,950
5,180 59,356
WALMART NEIGHBORHOOD MARKET | SAN ANTONIO, TEXAS
RENT ROLL | 11
Walmart Neighborhood Market Walmart Neighborhood Market is a chain of grocery stores introduced in 1998 as a subsidiary of Walmart Stores, Inc., typically around 40,000 square feet and are meant to streamline shopping for consumers. Neighborhood Markets are positioned between Walmart Supercenters and Discount Stores offering a variety of products including a full line of groceries, pharmaceuticals, health and beauty products, photography development services, and a selected line of general merchandise- all at Walmart’s affordable prices. Company Type: Public (NYSE: WMT) 2015 Employees: 2.2 Million
2015 Assets:
$200 Billion
2015 Revenue:
2015 Equity:
$80.5 Billion
Ranking:
#1 FORTUNE 500
$482 Billion
2015 Net Income: $14.7 Billion Tenant Name
Square Feet
Lease Start
Lease End
Begin
Monthly
Annually
Recovery Type
Options: 17 (5-year)
41,117
TBD
15 Years
Current
$49,938
$599,254
Abs. NNN
5% increase at each option
Year 6
$51,436
$617,232
Year 11
$52,979
$635,749
Walmart Neighborhood Market (corporate)
Note: Walmart has a right of first refusal and must respond within 15 days.
FINANCIAL INFORMATION
REPRESENTATIVE PHOTO
Price:..............................................................................................................$11,985,000 Net Operating Income:.......................................................................................... $599,254 Cap Rate:..................................................................................................................5.00% Lease Type:.......................................................................................................Absolute NNN PROPERTY SPECIFICATIONS Address:............................................................3847 Pleasanton Road, San Antonio, TX 78221 Year Built:................................................................................................................... 2016 Land Area:........................................................................................................... 5.36 Acres Parcel Number:........................................................................................... 11099-006-0761
REPRESENTATIVE PHOTO
