Advance Auto Parts
Retail | 6.83% 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.
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
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
