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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
27798060
27798061

311 W Fort Williams St, Sylacauga, AL 35150

GK
NY 49KU1129178
SURMOUNT
RS
NY 10401341647
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT
$843,636
224 days on market
Updated 8 days ago

Advance Auto Parts

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 8,075
Cap Rate 8.25%
NOI $69,600
Occupancy 100%
Tenancy Single
Brand/Tenant Advanced Auto Parts
Lease Type NN
Lease Term 38.8
Lease Expiration 12/31/2031
Remaining Term 5.6
Price per SqFt $104
Year Built 1993
Acreage 0.830
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/08/1993
Ownership Fee Simple

Retail | 8.25% CAP | 8,075 SqFt

Marketing description

Surmount is pleased to present the exclusive listing for an Advance Auto Parts located at 311 W Fort Williams Street, Sylacauga, AL 35150. The site consists of roughly 8,075 rentable square feet of building space on an estimated 0.83-acre parcel of land. This Advance Auto Parts is subject to a 10 Years-year Double Net (NN) lease, which commenced 4/8/1993. The current annual rent is $69,600 and has scheduled increases of 26% in next option period.

Investment highlights

  • Extremely Long Operating History | Advance Auto Parts has been at this location since 1993. Advance Auto Parts has continued to extend their lease showing their commitment to this location, most recently exercising a 5-year renewal option early.

  • Attractive R/SF & P/SF | Compared to Advance Auto Parts national average R/SF, this site is over 50% lower providing a healthy and replaceable rent. Additionally, relative to the average P/SF of Advance Auto Parts that are currently on the market, Price/SF for this site is 40% lower offering a very attractive basis.

  • Recession Resistant Business Due to Non Discretionary Nature of Services | The average age of the US vehicle fleet continues to increase leading to a greater need for repairs & maintenance. Auto parts are essential for keeping older cars running making demand less sensitive to economic downturns. Additionally, consumers often postpone buying new cars during downturns which increases demands for auto parts to maintain existing vehicles.

  • Corporate Guarantee from Advance Stores Company Inc. | The lease is backed by a strong corporate guarantee from Advance Stores Company, Inc., the operating entity of Advance Auto Parts. This corporate credit enhances the stability of the investment, ensuring reliable income backed by one of the nation’s leading automotive aftermarket parts providers.

Listing Contacts

GK
NY 49KU1129178
SURMOUNT
RS
NY 10401341647
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$69,600.00
$5,800.00/mo

Valuation Metrics

0
DSCR
8.25%
Cap Rate
8.25%
ROI

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Additional Information

Name
Brian Brockman
License
119315
Brokerage
Bang Realty-Alabama, Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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