Advance Auto Parts - Kingsport, TN
Retail | 7.50% CAP | 7,000 SqFt
Marketing description
Based in Raleigh, NC, Advance Auto Parts, Inc. is the largest provider of automotive aftermarket parts in North America, catering to both professional installers and do-it-yourself customers. The company operates 4,770 stores, along with Worldpac branches, and supports many independently owned CARQUEST branded stores across the United States, Puerto Rico, the U.S. Virgin Islands, and Canada.
With a workforce of around 68,000 team members, Advance Auto Parts is committed to fostering an environment built on honesty, integrity, mutual trust, and dedication—values that have remained unchanged since the company was founded. Their stores primarily offer a wide range of auto parts, including alternators, batteries, belts and hoses, chassis parts, clutches, engines, and engine components.
Investment highlights
- Income Tax Free State
- Recent Lease Extension - Advance Auto Parts have consistently extended their lease demonstrating their commitment to this site.
- 4.5+ Years Remaining - On the primary term including four, 5-year options.
- Corporate Guarantee - Lease is corporate guaranteed by Advance Stores Company, Inc. (S&P Rated BB).
- Rent-to-Sales Ratio - 5.21% Rent-to-Sales ratio at this location providing further confidence in Advance Auto Parts' commitment to the site.
- NN Lease - Minimal Landlord responsibilities.
- Excellent visibility along Lee Hwy - 34,000+ VPD along Lee Hwy.
- Low Rent Per Square Foot - Advance Auto Parts is paying $9.26 Per SF at this location.
- Below Replacement Cost - Could not purchase land and build this building for less money.
- Affluent Surrounding Incomes - Average Household Income is $95,903 within 1 mile of the property.
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