Advance Auto Parts
Retail | 7.25% CAP | 8,075 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for an Advance Auto Parts located at 625 2nd Street, North Wilkesboro, NC 28659. The site consists of roughly 8,075 rentable square feet of building space on an estimated 1.05-acre parcel of land. Advance Auto Parts is subject to a 41-year Double Net (NN) lease, which commenced 2.27.1995. The current annual rent is $84,000 and has scheduled increases of 5.7% In 2032.
Investment highlights
High-Performing, Legacy Store | Operating since 1995, this store reports a very healthy rent-to-sales ratio of 5.7%, indicating a highly profitable location relative to its lease costs.
Corporate Guaranty | NYSE: AAP | Strong corporate guaranty with a market cap of $2.57 billion as of early January 2026. AAP operates roughly 4,000 locations in the US, Canada, Puerto Rico, and US Virgin Islands.
Recent Tenant Extension | 11 Years of Term Remaining | The tenant just extended the lease an additional five years, underpinning tenant commitment to this high sales location. There is roughly 11 years remaining of lease term.
Below-Market Rent Structure | Current rent of $84,000 provides attractive basis and downside protection within a long-term Double Net lease structure.
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