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Views: 49 DOM: 43 Updated: 10.31.24 Posted: 10.09.24 Status: Active

Summary

Price $3,419,000
Built/Renov 2024
Tenant Advance Auto Parts
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 6,912
Lease Start 01-01-2025
#Units 5,105
Price/SF $494.65
Expiration 12-31-2039
Tenant Type Automotive
NOI $200,000
R. Term 15.1
Ownership Fee Simple
Rent/SF $28.94
Increases 10.0%/5/yrs
Pop 5Mi 43,833
Lot/AC 1.00
Options 3/5yrs/10%
AHHI 5Mi $73,672

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the base term and in each option period
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guarantee | Investment grade tenant

Location Description

Advance Auto Parts is strategically located on Bayside Lakes Boulevard, with access to a daily traffic count of 11,363 vehicles. The property is adjacent to a high-volume Publix-anchored grocery center, enhancing its visibility and foot traffic. It lies just west of I-95, the main north/south highway on the East Coast, which sees 56,580 VPD. The area is in close proximity to Florida’s Space...

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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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