Listed by Matthews
$363,000
Napa Auto Parts
Details
Property Type Retail
Sub Type Auto Shop
Cap Rate 8.00%
Occupancy 100%
Tenancy Single
Brand/Tenant Napa Auto Parts
Lease Type NN
Lease Term 5
Lease Expiration 01/31/2030
Remaining Term 3.7
Rent Bumps Yes
Lease Options One, 5-Year Options
Class C
Year Built 2006
Buildings 1
Stories 1
Investment Type Net Lease
Lease Commencement 02/01/2025
Occupancy Date 02/01/2025
Corporate Guaranteed Napa Auto Parts – 8% Cap, Below-Market Rent
Marketing description
Single-tenant Napa Auto Parts in Laurinburg, NC, offered at $363,000 with an 8.0% cap rate and $32,400 NOI. ±3 years 10 months remain on the lease, with a 5-year renewal option and 1.5% annual increases. Corporate guarantee by Genuine Parts Company. Passive ownership and strong retail corridor location.
Investment highlights
- Corporate Guarantee: Backed by Genuine Parts Company, an S&P-rated A- credit tenant and Fortune 200 operator with more than 6,000 locations nationwide.
- High-Yield Acquisition at an 8% Cap Rate: Offered at an 8.0% cap rate, providing an above-market entry yield relative to comparable net lease opportunities.
- Below-Market Rent with Significant Upside: Current rental rate is below market, creating a meaningful mark-to-market opportunity and potential future NOI growth.
- ±3 Years 10 Months Remaining: Approximately 3 years and 10 months remain on the current term, with one 5-year renewal option and 1.5% annual rent escalations.
- Passive Ownership: Passive ownership structure with landlord obligations limited to roof, structure, parking lot, taxes, insurance, and major mechanical systems.
- Established Retail Corridor: Situated within a well-established and densely populated retail corridor, characterized by strong co-tenancy, consistent consumer traffic, and sustained demand drivers that support long-term tenancy and site performance.
- Recession-Resistant: Auto parts retail has historically demonstrated durable performance through economic cycles, supported by consistent consumer demand.
Listing Contacts
Listed by Matthews
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