Listed by Sands Investment Group
$1,241,322
Advance Auto Parts - Laurel, MS
Details
Property Type Retail
Sub Type Auto Shop, Storefront
Square Footage 6,704
Cap Rate 6.5%
NOI $80,686
Occupancy 100%
Tenancy Single
Brand/Tenant Advance Auto Parts
Lease Type Absolute NNN
Lease Term 13.6
Lease Expiration 08/31/2033
Remaining Term 7.2
Rent Bumps Yes
Lease Options 4 x 5 Year Options
Price per SqFt $185
Year Built 1998
Buildings 1
Acreage 0.600
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/21/2020
Advance Auto Parts | Below Replacement Cost | Absolute NNN
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 6,704 SF Advance Auto Parts located at 132 N 16th Avenue in Laurel, MS. This investment features a rare Absolute Triple Net (NNN) Lease with Advance Auto Parts, providing a truly passive ownership structure with no landlord responsibilities, as the tenant is responsible for all operating expenses including taxes, insurance, and maintenance. Backed by a nationally recognized automotive retailer, this offering presents a stable, long-term net lease investment opportunity with secure income and minimal management requirements.
Investment highlights
- Rare Absolute Triple Net (NNN) Lease Structure: This investment features an Absolute Triple Net (NNN) Lease with zero landlord responsibilities. The tenant is directly responsible for all operating expenses, including taxes, insurance, and the maintenance of the roof and structure, providing a truly passive "hands-off" income stream.
- Significant Scheduled Rent Growth: Unlike many flat-rent automotive leases, this agreement includes a 10% rent increase scheduled for September 1, 2028, and at each of the four 5-year renewal options. This serves as a powerful hedge against inflation and ensures consistent growth in NOI.
- Strong Corporate Tenant Performance: Advance Auto Parts (NYSE: AAP) is a leading automotive aftermarket provider that has seen a significant turnaround in early 2026, with stock prices rising over 50% following successful restructuring and improved operating margins. The company reported positive comparable store sales growth of 1.1% in late 2025 and is projecting further acceleration through 2026.
- High-Traffic Regional Artery: The subject property is strategically situated on N 16th Avenue, which sees over 30,770 VPD. It also benefits from its immediate proximity to Interstate 59, a major regional route carrying approximately 42,549 VPD that connects Laurel to larger hubs like Hattiesburg and Jackson.
- Recession-Resistant Essential Retail: As an automotive parts provider, the tenant operates in a needs-based retail sector that historically performs well during economic downturns, as consumers prioritize maintaining existing vehicles over purchasing new ones.
- Laurel’s Economic Revitalization & Job Growth: Laurel is experiencing a major economic surge, highlighted by the $74.5 million expansion of poultry processor Amick Farms, which is adding approximately 190 new jobs to the local economy by 2026. The city’s profile has also been elevated nationally by the HGTV series Home Town, driving tourism and downtown revitalization.
- Dominant Retail Corridor: The asset is surrounded by a "who’s who" of national retailers, including Walmart, Lowe’s, Kroger, Dollar General, and CVS Pharmacy. This concentration of high-volume tenants creates a synergy that draws shoppers from across Jones County into the immediate trade area.
- Priced Significantly Below Replacement Cost: Offered at just $185.16 PSF, this asset is priced well below 2026 retail construction costs in the Southeast, which currently range from $245 to $294 PSF. This offers the investor a lower cost basis and excellent long-term residual value.
Listing Contacts
Listed by Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$80,686.00
$6,723.83/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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