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Views: 45 DOM: 85 Updated: 11.11.24 Posted: 08.21.24 Status: Active

Summary

Price $1,637,948
Built/Renov 2007
Tenant Advance Auto Parts
Cap Rate 7.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 11-16-2006
#Units 5,105
Price/SF $233.99
Expiration 11-30-2026
Tenant Type Automotive
NOI $126,941
R. Term 2.0
Ownership Fee Simple
Rent/SF $18.13
Increases 5.0%/1/yrs
Pop 5Mi 232,134
Lot/AC 0.64
Options 2/5yrs/5%
AHHI 5Mi $60,681

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2006
  • The tenant has 2 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guaranteed lease (NYSE: AAP)

Location Description

Advance Auto Parts is strategically located at the signalized, hard corner intersection of SW 29th Street and S Robinson Avenue, with access to a combined daily traffic count of 24,203 vehicles. The property benefits from multiple points of entry and is situated just 2 miles from the Myriad Botanical Gardens, which attracts over 1,000,000 visitors annually. The immediate area features...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Listing Broker

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