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Views: 128 DOM: 136 Updated: 11.25.24 Posted: 07.12.24 Status: Sold 11.25.24

Summary

Price $891,000
Built/Renov 2002
Tenant Advance Auto Parts
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,700
Lease Start 12-22-2005
#Units 5,105
Price/SF $156.32
Expiration 06-30-2034
Tenant Type Automotive
NOI $53,455
R. Term 9.7
Ownership Fee Simple
Rent/SF $9.38
Increases 3.0%/9/yrs
Pop 5Mi 111,673
Lot/AC 0.83
Options 4/5yrs/3%
AHHI 5Mi $140,604

Lease Highlights

  • Advance Auto Parts has been operating in this location for 20 years
  • The tenant has 9+ years remaining on the current lease term with 4 (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 Fidelity Boulevard, with access to 14,000 vehicles passing by daily. The property is conveniently situated within a 1-mile radius of over 2.4K SF of industrial space. The immediate area is surrounded by well-known national tenants, including Bob Evans, McDonald's, Chili's, Target, and more. The 5-mile trade area boasts a population of 111,673...

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Maps

  • 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 : 1,071 49,612 116,199
2024 Total Population : 1,090 47,850 112,126
2024 Employed Civilian Pop : 558 29,474 69,674
2024 Total Businesses : 565 2,053 4,589
2024 Average Household Income : $ 140,276 $ 151,109 $ 148,909
2024 Total Consumer Spending : $ 47 M $ 2815 M $ 6610 M
2024 Median Age : 37 39 39
2024 Total Households : 383 21,448 51,043
2024 Pop Age 25+: Bachelor's Degree : 292 15,427 34,479
2024 Average Home Value : $ 524,428 $ 567,173 $ 557,915
*ESRI data is presented for informational purposes only

Listing Broker

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