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Views: 75 DOM: 121 Updated: 11.11.24 Posted: 08.22.24 Status: Active

Summary

Price $1,219,685
Built/Renov 2003
Tenant Advance Auto Parts
Cap Rate 8.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 6,889
Lease Start 12-26-2003
#Units 5,105
Price/SF $177.05
Expiration 12-31-2028
Tenant Type Automotive
NOI $100,624
R. Term 4.0
Ownership Fee Simple
Rent/SF $14.61
Increases 5.0%/3/yrs
Pop 5Mi 10,313
Lot/AC 1.00
Options 2/5yrs/5%
AHHI 5Mi $80,680

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2003
  • The tenant has 4+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features a 5% rental increase at the start of option 1, 10% at the start of option 2
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located on State Road 163, with access to 7,939 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart, Tractor Supply Co., Fast Pace Health Urgent Care, Dollar Tree, McDonald's, and more. Nearby educational institutions include Central Elementary School and Van Duyn Elementary School. The 5-mile trade area...

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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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