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Views: 245 DOM: 244 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....

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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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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

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Patrick Luther

SRS National Net Lease Group

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  • 420 Listings
  • 70597 Views
  • 194 Sold
Matthew Mousavi

SRS National Net Lease Group

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  • 369 Listings
  • 64398 Views
  • 163 Sold

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

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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

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