Advance Auto Parts | 7-Unit Portfolio Upstate NY
Rare Opportunity Zone Portfolio | 7 Recession-Resistant Locations | Strong Tax Incentives
Marketing description
Marcus & Millichap is pleased to present an exclusive opportunity to acquire a 7-unit portfolio of freestanding Advance Auto Parts locations strategically situated throughout upstate New York. Priced at $9,155,624 with a 7.00% capitalization rate, this portfolio offers an immediate, scaled entry into the recession-resistant automotive aftermarket sector. Each location is secured by a corporate-guaranteed lease from Advance Auto Parts, an investment-grade tenant holding a BBB credit rating from Standard & Poor’s.
The properties are strategically located in key New York markets, including Cicero, Rome, Carthage, Auburn, Watertown, Ogdensburg, and Pulaski. These sites benefit from being positioned within high-traffic retail corridors, often serving as out-parcels to major national anchors such as Lowe’s Home Improvement and Walmart Supercenter, or in close proximity to major retailers like Home Depot, ALDI, and Tractor Supply Co.. With a combined annual rent of $640,923 and 9 years remaining on the primary lease terms, this portfolio provides predictable, long-term cash flow backed by one of the industry's leading brands.
Investment highlights
Investment-Grade Corporate Guarantee: All seven leases are corporately guaranteed by Advance Auto Parts, Inc., which maintains a stable BBB credit rating from Standard & Poor's.
Mission-Critical Retail Locations: The portfolio consists of freestanding buildings situated on high-visibility parcels, including an out-parcel to Lowe's (Cicero) and sites directly across from Walmart Supercenters (Auburn, Rome).
Recession-Resistant Asset Class: The automotive parts industry is historically durable through economic cycles, as consumers tend to maintain existing vehicles during downturns.
Passive Lease Structure: These locations feature NN (Double Net) lease structures with minimal landlord responsibilities, making them an ideal "hands-off" investment for local or out-of-state owners.
Significant Rental Growth Potential: Each lease includes 10% rent increases in the first option period, providing a built-in hedge against inflation and enhancing long-term yield.
Diverse Geographic Footprint: Spread across seven distinct New York markets, the portfolio mitigates localized risk while capturing varied demographic bases from affluent Cicero to the high-traffic trade areas of Watertown and Auburn.
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