Advance Auto Parts
Retail | 6.58% CAP | 39,300 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased Advance Auto Parts investment property located in Arab, Alabama. The tenant, Advance Stores Company, Incorporated, recently executed a lease extension through December 2028, demonstrating continued commitment to the location after more than 30 years of operating history at the site. The lease features two (5-year) options to extend with fixed rental increases at the beginning of each option period, providing continued NOI growth potential. The tenant is currently paying approximately $6.34/SF, below surrounding retail lease comparables within the trade area. The lease is structured as NN with limited landlord responsibilities, creating a low-management investment opportunity with defined ownership obligations.
The property is strategically positioned along N Brindlee Mountain Parkway (17,800 VPD), a primary north-south retail corridor serving the greater Arab trade area. The site benefits from strong visibility, convenient ingress/egress, and proximity to surrounding national and regional retailers including Tractor Supply, Wendy's, Arby's, Dairy Queen, Harbor Freight, Sonic, O'Reilly Auto Parts, Dollar General, and more, reinforcing the corridor's established retail presence and consistent consumer traffic patterns. In addition, the property is located near multiple schools, residential neighborhoods, and daily-needs retail drivers that support long-term traffic to the area. The 5-mile trade area is supported by more than 18,800 residents and 4,800 employees with an average household income of approximately $88,334
Investment highlights
- Corporate Lease | Recent Lease Extension | Below Market Rent:
- Advance Stores Company, Inc. executed a lease extension through Dec. 2028, demonstrating continued commitment to the location
- The lease features two (5-year) options to extend with fixed rental increases at the beginning of each option period
- The tenant is currently paying approximately $6.34/SF, below surrounding retail lease comparables in the trade area
- NN Lease Structure | Fee Simple Ownership | Limited Landlord Responsibilities:
- Tenant is responsible for taxes, insurance, utilities, HVAC, and general interior maintenance and repairs
- Landlord retains responsibility for roof, structure, parking lot, and certain exterior/site components
- The property offers a low-management investment profile with defined landlord responsibilities
- Established Retail Corridor | Service-Oriented Retail Hub | Central Arab, AL Location:
- The property is positioned along N Brindlee Mountain Pkwy (17,800 VPD), a primary north-south retail corridor serving the greater Arab trade area
- Surrounding national and regional retailers include Tractor Supply, Wendy's, Arby's, Dairy Queen, O'Reilly Auto Parts, Harbor Freight, Sonic and more, reinforcing the corridor's established retail presence
- The site benefits from strong visibility, convenient access, and proximity to nearby schools, residential neighborhoods, driving consistent consumer traffic
- Strong Demographics In 5-Mile Trade Area:
- More than 18,800 residents and 4,800 employees support the trade area
- $88,334 average household income
- Arab, Alabama Marshall & Cullman County
- N. Brindlee Mountain Parkway/State Highway 53/U.S. Highway 231: 1 Access Point
- N. Brindlee Mountain Parkway/State Highway 53/U.S. Highway 231: 17,800 VPD Guntersville Road/State Highway 69: 10,300 VPD
- There is approximately 7,000 SF of existing building area
- There are approximately 58 parking spaces on the owned parcel. The parking ratio is approximately 8.31 stalls per 1,000 SF of leasable area.
- Parcel Number: 13-06-23-2-000-018.009 Acres: 0.9 I R:n7 Square Feet: 39,300 SF
- Year Built: 1993
- GB - General Business District
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