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Views: 120 DOM: 197 Updated: 11.05.24 Posted: 06.07.24 Status: Active

Summary

Price $2,338,000
Built/Renov 1998
Tenant Advance Auto Parts
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,223
Lease Start 06-01-1998
#Units 5,105
Price/SF $208.32
Expiration 05-31-2034
Tenant Type Automotive
NOI $128,613
R. Term 9.5
Ownership Fee Simple
Rent/SF $11.46
Increases 7.5%/5/yrs
Pop 5Mi 115,158
Lot/AC 1.71
Options 4/5yrs/7.5%
AHHI 5Mi $74,026

Lease Highlights

  • Advance Auto Parts has been operating in this location since 1988
  • The tenant has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located at the signalized, hard corner intersection of State Highway 450 and North County Road, with access to a combined daily traffic count of 43,000 vehicles. The property benefits from nearby access to State Highway 302, which sees a traffic count of 32,300 VPD, making this a centralized location. The immediate area is surrounded by well-known national...

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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 : 10,992 65,409 115,891
2024 Total Population : 10,740 63,928 112,484
2024 Employed Civilian Pop : 5,728 33,664 58,719
2024 Total Businesses : 424 2,650 4,712
2024 Average Household Income : $ 72,564 $ 81,107 $ 85,188
2024 Total Consumer Spending : $ 244 M $ 1632 M $ 3038 M
2024 Median Age : 35 35 34
2024 Total Households : 3,758 22,402 39,858
2024 Pop Age 25+: Bachelor's Degree : 1,097 4,128 8,510
2024 Average Home Value : $ 201,964 $ 201,442 $ 219,445
*ESRI data is presented for informational purposes only

Listing Broker

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