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Views: 126 Updated: 09.27.24 Posted: 07.10.24 Status: Inactive

Summary

Price $2,200,000
Built/Renov 2005
Tenant Advance Auto Parts
Cap Rate 7.06%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 8,036
Lease Start 04-01-2006
#Units 5,105
Price/SF $273.77
Expiration 03-31-2025
Tenant Type Automotive
NOI $155,254
R. Term 0.4
Ownership Fee Simple
Rent/SF $19.32
Increases 5.0%/1/yrs
Pop 5Mi 102,379
Lot/AC 0.93
Options 3/5yrs/5%
AHHI 5Mi $119,786

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2005
  • Less than 1 year remaining on the primary lease term with 3 (5-year) options to extend
  • The lease features 5% rental increases in each option period
  • Limited landlord responsibilities | New roof membrane installed in 2019
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located on Broadway Avenue S, with access to 26,000 vehicles passing by daily. The property is positioned two blocks from the planned Graham Park redevelopment project and is surrounded by well-known national tenants, including Walgreens, Chick-fil-A, Aldi, Domino's, O'Reilly Auto Parts, and more. The 5-mile trade area is supported by a population of 102,379...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Advance Auto Parts
  • Guarantor:Corp T and Rated
  • Company:Advance Stores Co, Inc
  • # Units:5,105
  • Tenant S&P: BB+
  • Moody’s: Ba2
  • Stock: NYSE: AAP

About Tenant

Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider that serves both professional installers and do-it-yourself (DIY) customers. Advance is a publicly traded...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,668 58,651 107,740
2024 Total Population : 9,517 57,120 105,245
2024 Employed Civilian Pop : 5,107 30,312 56,655
2024 Total Businesses : 338 2,582 4,026
2024 Average Household Income : $ 90,105 $ 116,969 $ 122,834
2024 Total Consumer Spending : $ 305 M $ 2559 M $ 4738 M
2024 Median Age : 37 37 38
2024 Total Households : 3,840 25,039 44,278
2024 Pop Age 25+: Bachelor's Degree : 1,518 10,086 19,535
2024 Average Home Value : $ 292,082 $ 383,660 $ 397,937
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Broadway Avenue 18th St SE 2018 23,100 0.04 mi
S Broadway Ave 17th St SE 2006 27,000 0.14 mi
18th St SE 3rd Ave SE 2006 9,600 0.17 mi
20th St SW 1st Ave SW 2018 5,200 0.26 mi
16th Street Southeast Arena Dr SE 2018 9,500 0.26 mi
2nd Ave SE 16th St SE 2006 9,000 0.26 mi
S Broadway Ave 16th St SE 2006 22,900 0.28 mi
21st St SW 1st Ave SW 2006 25,500 0.33 mi
Arena Dr SE 3rd Ave SE 2006 10,800 0.37 mi
16th St SE 5th Ave SE 2018 9,000 0.41 mi

Listing Broker

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