Advance Auto Parts

1901 South Glenburnie Road, New Bern, NC 28562

$2,520,000

Cap Rate 6.35%

Views: 79 DOM: 134 Updated: 08.30.24 Posted: 07.12.24 Status: Active

Summary

Price $2,520,000	Built/Renov 1998	Tenant Advance Auto Parts
Cap Rate 6.35%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 18,000	Lease Start 07-12-2010	#Units 5,105
Price/SF $140.00	Expiration 06-30-2034	Tenant Type Automotive
NOI $160,037	R. Term 9.7	Ownership Fee Simple
Rent/SF $8.89	Increases 3.0%/9/yrs	Pop 5Mi 44,035
Lot/AC 0.90	Options 6/5yrs/3%	AHHI 5Mi $82,957

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Advance Auto Parts has been operating in this location since 2010
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 S Glenburnie Road, with access to 20,000 vehicles passing by daily. The property features two points of ingress and egress, including a dedicated turn lane into the site. The immediate area features well-known national tenants such as Target, Publix, HomeGoods, Five Below, Academy Sports, Hobby Lobby, and more. The 5-mile trade area supports a...

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Key Features

Build to suit
In location for years
Near major nationals
Strategically located
Freeway close
Recently extended lease
Below Market Rent
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia New Bern, North Carolina Zip Code 28562 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Advance Auto Parts
Guarantor:Corp T and Rated
Company:Advance Stores Co, Inc
# Units:5,105
Tenant S&P: BB+
Moody’s: Ba2
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 :	4,331	29,353	44,670
2024 Total Population :	4,229	28,830	44,322
2024 Employed Civilian Pop :	1,981	12,910	19,322
2024 Total Businesses :	597	1,535	2,361
2024 Average Household Income :	$ 73,636	$ 95,057	$ 97,205
2024 Total Consumer Spending :	$ 133 M	$ 1096 M	$ 1687 M
2024 Median Age :	47	45	45
2024 Total Households :	2,049	13,066	19,651
2024 Pop Age 25+: Bachelor's Degree :	602	3,684	6,002
2024 Average Home Value :	$ 237,957	$ 259,041	$ 278,273

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Harvard Way	2022	21,223	0.04 mi
South Glenburnie Road	Martin Dr	2018	17,500	0.16 mi
South Glenburnie Road	Martin Dr	2022	20,204	0.18 mi
S Glenburnie Rd	Yarmouth Rd	2004	20,000	0.22 mi
Martin Luther King Blvd	Clarendon Blvd	2004	29,000	0.43 mi
US 17 Business	McCarthy Blvd	2022	33,582	0.44 mi
	US Hwy 70	2022	8,073	0.45 mi
US 17-70	Wellon Blvd	2020	29,000	0.49 mi
	Wellon Blvd	2022	33,050	0.51 mi
South Glenburnie Road	Clarendon Blvd	2022	6,080	0.53 mi

Listing Broker

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