Advance Auto Parts

431 Genesee Street, Chittenango, NY 13037

$1,497,000

Cap Rate 8.25%

DOM: 266 Updated: 09.12.24 Posted: 08.05.24 Status: Active

Summary

Price $1,497,000	Built/Renov 2007	Tenant Advance Auto Parts
Cap Rate 8.25%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 6,549	Lease Start 11-15-2007	#Units 5,105
Price/SF $228.58	Expiration 11-30-2027	Tenant Type Automotive
NOI $123,516	R. Term 2.7	Ownership Fee Simple
Rent/SF $18.86	Increases 5.0%/2/yrs	Pop 5Mi 12,160
Lot/AC 0.67	Options 3/5yrs/5%	AHHI 5Mi $121,874

Lease Highlights

Advance Auto Parts has been operating in this location since 2007
The tenant has 3+ year remaining on the current lease term with 3 (5-year) options to extend
The lease features 5% rental escalations at the start of each option period
Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located near the signalized, hard-corner intersection of US Hwy 5 and Genesee Street, with access to a combined daily traffic count of 21,900 vehicles. The property is in close proximity to the Chittenango Self Storage facility, serving the town of Chittenango, and is 2 miles from YBR Casino & Sports Book, a TopGolf Swing Suite, and a TOPS Friendly Market....

...

Key Features

Build to suit
In location for years
Near major nationals
Strategically located
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Traded and rated company
Corporate Guarantee

...

Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia Chittenango, New York Zip Code 13037 Broker Site Page

Maps

Local Information

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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	2,838	7,720	11,912
2024 Total Population :	2,917	7,920	12,225
2024 Employed Civilian Pop :	1,384	3,677	6,144
2024 Total Businesses :	127	222	300
2024 Average Household Income :	$ 100,356	$ 116,305	$ 121,872
2024 Total Consumer Spending :	$ 110 M	$ 332 M	$ 530 M
2024 Median Age :	43	43	44
2024 Total Households :	1,252	3,270	5,003
2024 Pop Age 25+: Bachelor's Degree :	355	1,081	1,659
2024 Average Home Value :	$ 235,816	$ 263,700	$ 287,310

*ESRI data is presented for informational purposes only

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
77068 Views
202 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
70193 Views
170 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

...

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT