1302 W Walnut Ave

Marketing description Excellent investment opportunity featuring a highly visible outparcel positioned within a dominant grocery-anchored community shopping center. The property benefits from strong co-tenancy with national retailers including Starbucks and AFC Urgent Care, generating consistent consumer traffic and strong area visibility. The asset is secured with a long-term initial 10-year lease extending through 2033, offering stable income and long-term investment security. The site provides convenient ingress and egress with three access points, including two entrances from West Walnut Ave and one from South Tibbs Rd. The surrounding trade area features strong demographics, with an average household income of $103,922 within a 2-mile radius, more than 21,920 households within 5 miles, and a population exceeding 62,848 residents within a 5-mile radius.

Investment highlights CAP 6.11% (August 2028), CAP 5.60% (Current) NOI $313,218 (August 2028), NOI $287,100 (Current) Approximately 6,000 SF on 0.74 acres of C-2 zoned land. Occupied by two tenants, Starbucks and AFC Urgent Care, with approximately 32 parking spaces. Newly built in 2024 (3 years old), located in a highly affluent area with strong regional demand. Starbucks drive-thru with 50% higher revenue and the only one within a 5-mile radius. Rent increases occur every five years, with the next base rent adjustment in August 2028, when the cap rate is expected to increase accordingly. Ease of management investment with a NNN lease in place. Outparcel to a grocery-anchored shopping center featuring Food City, Ross, PetSmart, Ulta Beauty, AT&T, and Crumbl Cookie.