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Views: 76 DOM: 7 Updated: 09.15.24 Posted: 09.11.24 Status: Active

Summary

Price $1,585,161
Built/Renov 2009
Tenant Advance Auto Parts
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,200
Lease Start 12-17-2009
#Units 5,105
Price/SF $255.67
Expiration 07-31-2030
Tenant Type Automotive
NOI $122,850
R. Term 5.10
Ownership Fee Simple
Rent/SF $19.81
Increases 10.0%/5/yrs
Pop 5Mi 187,657
Lot/AC 1.00
Options 3/5yrs/10%
AHHI 5Mi $81,583

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2009
  • The tenant has 5+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located on Eureka Road, with access to 29,709 vehicles passing by daily. The property is surrounded by prominent national tenants, including Planet Fitness, Buffalo Wild Wings, AutoZone, Goodyear, and more. Additionally, within a 1-5 mile radius are key educational institutions such as Southgate Anderson High School, Davidson Middle School, and Fordline...

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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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