NAPA Auto Parts | GPC Corp. Guar. | 25yr Occ. | Altoona, PA
Lease Extns. & Expns. of Space | Passive Ownr. | Sheetz HQ | PSU Satellite | Altoona Curve MLB M.L.
Marketing description
CBRE is pleased to exclusively present for sale this 9,100-square-foot NAPA Auto Parts property located on 1.06 acres along E. Plank Road in Altoona, Pennsylvania. The offering represents an attractive investment opportunity backed by a corporately guaranteed lease from Genuine Parts Company (NYSE: GPC), an investment-grade tenant (S&P: BBB) and one of the world’s largest distributors of automotive replacement parts. The NN lease structure limits landlord responsibilities to roof and structure only, providing investors with a passive ownership profile and reliable income stream.
NAPA Auto Parts has operated at this location for over 25 years, underscoring its long-term commitment to the site and the strength of the Altoona market. The current lease runs through June 30, 2031, with more than five years of firm term remaining and one additional five-year renewal option. Ownership is offered fee simple, allowing for full control of the underlying real estate. A local artisan also leases the rear portion of the building on a month-to-month basis, providing supplemental income and maintaining 100% occupancy.
Strategically positioned just off Interstate 99, the property is part of Altoona’s dominant retail corridor, offering exceptional regional accessibility and long-term market stability. The area’s strong economic base—anchored by major employers such as Sheetz (headquartered in Altoona), Penn State Altoona, and the James E. Van Zandt VA Medical Center—provides consistent consumer activity and diversified demand. This offering presents a compelling opportunity for private and 1031 exchange investors seeking durable, investment-grade income in a proven Central Pennsylvania retail market with a history of tenant longevity and sustained growth.
Investment highlights
CORPORATELY GUARANTEED INVESTMENT-GRADE CREDIT TENANT
NAPA Auto Parts is operated and corporately guaranteed by Genuine Parts Company (NYSE: GPC), an investment-grade credit tenant and one of the largest global distributors of automotive replacement parts.
LONG-TERM OPERATING HISTORY
NAPA has operated at this location for over 25 years. The tenant has extended its lease several times and expanded its footprint to 2,100 SF in 2018, underscoring its long-term commitment to this store and the strength of the Altoona market.
ESTABLISHED STRATEGIC RETAIL LOCATION OFF I-99
Ideally positioned along Altoona’s dominant retail corridor just off Interstate 99 (55,702 VPD), the property benefits from exceptional regional accessibility and visibility. The surrounding area features some of Central Pennsylvania’s largest shopping destinations—including Logan Towne Center, Pleasant Valley Shopping Center, and Logan Valley Mall—anchored by top national retailers such as Target, Lowe’s, Sam’s Club, and Best Buy. Logan Valley Mall serves as the region’s primary enclosed shopping destination, drawing visitors from a 60-mile trade area.
PASSIVE OWNERSHIP
NAPA Auto Parts operates under a corporately guaranteed NN lease with minimal landlord responsibilities (see lease abstract). The lease runs through June 30, 2031, with over five years of term remaining and one five-year renewal option.
GREAT VISIBILITY, STRONG TRAFFIC COUNTS & DEMOGRAPHICS
The site offers excellent exposure along E. Plank Road (29,134 VPD) and Union Avenue (9,495 VPD), supported by a robust population base of more than 75,000 residents within five miles and an average household income exceeding $84,000 within one mile. The corridor’s mix of residential density, strong retail presence, and commuter flow along I-99 (55,702 VPD) ensures consistent customer traffic and long-term stability.
PROXIMITY TO MAJOR ECONOMIC DRIVERS
The property is located minutes from some of Altoona’s largest traffic generators, including Penn State Altoona, the James E. Van Zandt VA Medical Center, and Lakemont Park Amusement Park. Altoona is also home to the corporate headquarters of Sheetz and the Altoona Curve minor league baseball team, further reinforcing the city’s strong employment base and community draw. Additionally, the site is within 40 miles of State College—home to Penn State University’s main campus and more than 88,000 students—creating additional economic connectivity and regional visitation.
ATTRACTIVE FEE SIMPLE OWNERSHIP STRUCTURE
Offered as fee simple ownership, the property provides investors with tax shelter via depreciation, full control of the real estate, and a stable income stream. The rear portion of the building is leased month-to-month to a local artisan, offering additional income and future flexibility.
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