Walmart Shadow-Anchored Strip

Walmart Shadow-Anchored Strip

Walmart Shadow-Anchored Strip
1035 Hasko Rd
Palmetto, FL

$1,292,000

Cap Rate 8.72%
Gross Leasable Area (GLA) 9,610 Sq.Ft.
Price Per Square Foot (GLA) $134
Year Built 2007
Lot Size 1.04 Acres
  • Shadow Anchored by Walmart Supercenter
  • 100 Percent Stabilized Asset
  • Staggered Leases with Annual Increases
  • Priced Below Replacement Cost
  • Population of 139,976 Within a Five Mile Radius
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Walmart Shadow-Anchored Strip (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to present a 9,610 square foot retail center which shadows a 215,000 square foot Walmart Supercenter. The property is ideally situated on one of two main entrances to Walmart, which is located on the highly desirable intersection of US-41 and US-301. Positioned adjacent to Dunkin’ Donuts on Hasko Road, this asset is home to a number of staple destination tenants that serve the immediate community. National retailers such as Aldi, Taco Bell, Wendy’s and McDonald’s surround the property and make this location a destination hot spot.

Palmetto is conveniently located along the Gulf of Mexico and is part of the North Port-Sarasota-Bradenton MSA. Located approximately 50 miles south of Tampa, the metropolitan area is one of the fastest growing in the country, and is renowned for its cultural and environmental amenities, beach resorts and Spanish influence.

Built in 2007, this center provides a new buyer with an opportunity to purchase a stabilized retail asset with little to no management responsibility and annual increases that act as a hedge against inflation. An investor can get into the deal for just under $400,000, which will yield an 8.51 percent cap rate day one, with an expected cash-on-cash return of 12 percent.

For More Information, Please Contact:

James Garner

Associate
(813) 387-4796
James.Garner@MarcusMillichap.com