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Views: 74 DOM: 10 Updated: 09.06.24 Posted: 09.06.24 Status: Active

Summary

Price $1,830,240
Built/Renov 2004
Tenant Advance Auto Parts
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 12-30-2004
#Units 5,105
Price/SF $261.46
Expiration 12-31-2029
Tenant Type Automotive
NOI $137,268
R. Term 5.3
Ownership Fee Simple
Rent/SF $19.61
Increases 5.0%/5/yrs
Pop 5Mi 84,900
Lot/AC 0.96
Options 1/5yrs/5%
AHHI 5Mi $88,501

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2004
  • The tenant has 5+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features 10% rental escalations throughout the initial term and 5% at the start of each option period
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located on Central Avenue, with access to 14,000 vehicles passing by daily. The property is conveniently situated less than 1 mile south of Interstate 90 and is surrounded by well-known national tenants including McDonald’s, Walgreens, Dunkin', AutoZone, O’Reilly Auto Parts, Pet Supplies Plus, and more. Additionally, it is directly across from The Promenade...

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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: Baa3
  • 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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