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Views: 109 DOM: 162 Updated: 11.26.24 Posted: 07.11.24 Status: Active

Summary

Price $1,433,000
Built/Renov 2011
Tenant Advance Auto Parts
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,500
Lease Start 07-18-2011
#Units 5,105
Price/SF $191.07
Expiration 06-30-2034
Tenant Type Automotive
NOI $85,953
R. Term 9.6
Ownership Fee Simple
Rent/SF $11.46
Increases 3.0%/9/yrs
Pop 5Mi 33,083
Lot/AC 0.93
Options 5/3yrs
AHHI 5Mi $69,834

Lease Highlights

  • Tenant has been operating at this location for nearly 13 years | Currently operating as Carquest store
  • The tenant has 9+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 3% 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 Harrison Avenue, with access to 22,200 vehicles passing daily. The property features convenient cross access through the adjacent shopping center and benefits from a dedicated turn lane into the site. The immediate area is surrounded by well-known national tenants such as Walmart Supercenter, Staples, Hwy 55, Goodwill, Buffalo Wild Wings, Subway,...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,312 25,150 34,215
2024 Total Population : 4,103 24,584 33,609
2024 Employed Civilian Pop : 1,611 11,193 15,427
2024 Total Businesses : 290 1,065 1,566
2024 Average Household Income : $ 73,385 $ 72,751 $ 71,831
2024 Total Consumer Spending : $ 118 M $ 710 M $ 950 M
2024 Median Age : 46 44 42
2024 Total Households : 1,834 11,023 14,891
2024 Pop Age 25+: Bachelor's Degree : 478 3,257 4,490
2024 Average Home Value : $ 308,497 $ 292,600 $ 309,333
*ESRI data is presented for informational purposes only

Listing Broker

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