

Listed by Marcus & Millichap - Chicago Oak Brook
$2,020,000
Advance Auto Parts - Chicago, IL
Details
Property Type Retail
Sub Type Storefront, Auto Shop
Square Footage 6,974
Cap Rate 8%
NOI $161,564
Occupancy 100%
Tenancy Single
Brand/Tenant Advanced Auto Parts
Lease Type NN
Lease Term 25.5
Lease Expiration 06/30/2031
Remaining Term 5
Rent Bumps Yes
Lease Options Three, Five-Year
Broker Co-Op True
Year Built 2004
Acreage 0.500
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/26/2005
Ground Lease No
Ownership Fee Simple
NYSE: AAP | Recent 5-Year Lease Extension | 767,000+ People in 5-Miles
Investment highlights
Corporate Guaranty (NYSE: AAP)
- Advance Auto Parts is a NYSE listed company (AAP) with a market capitalization of approximately $3.5 billion, providing a transparent financial reporting profile, audited SEC filings, and public accountability not available with private operators.
- Advance Auto Parts is one of the four largest automotive aftermarket parts retailers in North America, competing alongside AutoZone, O’Reilly, and NAPA, with a nationwide footprint exceeding 4,300 company operated locations and hundreds of independently owned Carquest locations.
- The company serves both DIY consumers and professional installers (commercial/DIFM segment), providing diversified demand channels and higher frequency customer relationships than pure DIY formats.
Durable Brand with Nearly 100-Year Operating History
- Founded in 1929, Advance Auto Parts has operated through multiple recessions, fuel shocks, retail cycles, and technological shifts—an operating history few retailers can match.
- Brand longevity, professional installer relationships, and integrated supply chain infrastructure create meaningful barriers to entry for new competitors.
Recent 5-Year Lease Extension with 20+ Year Operating History
- Advance Auto Parts has over 5 years remaining on a recently extended 5-year lease.
- The lease includes 5.00% rent increases every 5 years and three, five-year options to renew.
Over $1,419,000,000 Spent on Transportation & Maintenance in a 5-Mile Radius
- Fixed costs (buying, insuring, and maintaining a car) account for roughly three-quarters of total automobile expenses.
- Consumer spending on transportation and maintenance within a 5-mile radius is a vital driver of local economic health, as nearly 90% of all public transit trips directly impact the local economy.
Chicago – 3rd Largest City in the United States
- Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan and expands over a 5,000-square-mile region in northeastern Illinois, extending into Wisconsin and Indiana.
- The metro has one of the biggest economies in the nation and is buoyed by its distribution, finance, manufacturing operations and growing high-technology sectors.
Listing Contacts


Listed by Marcus & Millichap - Chicago Oak Brook
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$161,564.00
$13,463.67/mo
Valuation Metrics
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DSCR
8%
Cap Rate
8%
ROI
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