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Views: 76 DOM: 113 Updated: 11.11.24 Posted: 08.30.24 Status: Active

Summary

Price $1,518,494
Built/Renov 2007
Tenant Advance Auto Parts
Cap Rate 8.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 01-31-2008
#Units 5,105
Price/SF $216.93
Expiration 01-31-2028
Tenant Type Automotive
NOI $129,072
R. Term 3.1
Ownership Fee Simple
Rent/SF $18.44
Increases 5.0%/3/yrs
Pop 5Mi 23,286
Lot/AC 0.71
Options 2/5yrs/5%
AHHI 5Mi $88,807

Lease Highlights

  • Advanced Auto Parts has been operating in this location since 2008
  • The tenant has 3+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Advance Auto Parts is strategically located on Highway 31, a major thoroughfare with access to 16,926 vehicles passing by daily. The property is surrounded by well-known national tenants, including Subway, O'Reilly Auto Parts, CVS Pharmacy, Family Dollar, and more. Key educational institutions in the vicinity include Calera High School, Calera Middle School, Shelby County High School, the...

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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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