Listed by Matthews
$1,650,000
Advance Auto Parts
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,889
Cap Rate 7.15%
Tenancy Single
Brand/Tenant Dollar General, Walgreens
Lease Type NNN
Lease Term 15
Lease Expiration 03/31/2033
Remaining Term 7
Lease Options 5,5 Year Options
Price per SqFt $240
Year Built 2018
Buildings 1
Stories 1
Acreage 0.520
Ground Lease No
Ownership Fee Simple
Minimal Landlord Responsibilities | Texas Tax Advantage | Signalized Hard Corner Location
Marketing description
Patrick Graham
Broker of Record
License No. 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
Investment highlights
- Minimal Landlord Responsibilities: Landlord obligations are limited to structural maintenance only, providing a passive, low-management ownership structure.
- Texas Tax Advantage: Located in a no state income tax jurisdiction, supporting enhanced after-tax cash flow for investors.
- Signalized Hard Corner Location: Positioned at a signalized intersection, offering strong visibility, prominent frontage, and efficient ingress/egress.
- Dense and Expanding Trade Area: Over 200,000 residents within a five-mile radius, underpinning sustained consumer demand and long-term retail viability.
- Proximity to El Paso International Airport: Situated along Montana Avenue with convenient access to El Paso International Airport, benefiting from both local traffic patterns and transient demand.
- Publicly Traded Tenant: Advance Auto Parts is listed on the New York Stock Exchange (NYSE: AAP), providing transparency and institutional-grade reporting.
- Credit-Rated Tenant Profile: Advance Auto Parts carries a BB+ rating from S&P Global and a Baa3 rating from Moody’s, reflecting established credit quality.
- Established Operating History: Founded 93 years ago with more than 4,700 locations nationwide, demonstrating long-term industry presence and operational scale.
Listing Contacts
Listed by Matthews
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