Advance Auto Parts | Abs NNN Lease | 7.75% Cap
5-Mile population of ±91,940 residents
Investment highlights
LOCATION HIGHLIGHTS
● Advance Auto signed a brand new 15-year lease in 2020, confirming their commitment to the location and market
● RARE Absolute NNN lease for Advance Auto Parts
● Attractive 7.75% cap rate for a stabilized investment
● ±7.50-Years remaining on the base term of an initial 15-year lease
● ±19,000 Vehicles daily at the intersection of N Burnside Ave
● 5-Mile population of ±91,940 residents
● “Do it Yourself” demographics based on an average household income of $118,856 annually
● Gonzales is located in Ascension Parish in southeastern Louisiana, positioned between Baton Rouge and New Orleans, offering convenient access to major employment centers, regional retail, and industrial corridors
● Gonzales is situated approximately 25 miles south of Baton Rouge and 50 miles northwest of New Orleans, providing strong connectivity to both metropolitan areas via Interstate 10
TENANT HIGHLIGHTS
● Advance Auto Parts (NYSE: AAP) is one of the nation’s largest automotive
aftermarket parts providers, serving both professional installers and do-it yourself customers.
● Lease is corporate guaranteed by Advance Stores Company, Inc. (S&P Rated BB)
● Considered an essential retailer, Advance Auto Parts has maintained consistent operations and rent payments, including throughout the COVID-19 pandemic.
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