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33349654
33349659

1130 Route 46, Ledgewood, NJ 07852

JB
TX 688810
Matthews
Listed by Matthews
$2,287,886
20 days on market
Updated 20 days ago

Advance Auto | NYC MSA | NNN Lease

Details
Property Type Retail
Sub Type Gas Station, Auto Shop
Square Footage 6,810
Cap Rate 6.15%
NOI $140,705
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone, Advanced Auto Parts (+1)
Lease Type NNN
Lease Term 15
Lease Expiration 12/31/2035
Remaining Term 9.6
Rent Bumps Yes
Lease Options Three, 5-Year Options
Year Built 2016
Acreage 1.000
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/15/2016
Ground Lease No
Ownership Fee Simple

Long Term Lease Extension | Corporate Guaranty

Marketing description

Advance Auto Parts, Inc. is a leading automotive aftermarket parts retailer with a nationwide presence serving both professional installers and do-it-yourself consumers. As one of the largest operators in the auto parts retail segment, the company benefits from strong brand recognition, a diversified customer base, and a long operating history dating back to the early 20th century. Its scale, established supply chain, and dual-channel retail strategy position it as a key participant in a resilient industry driven by ongoing vehicle maintenance needs.

Founded in 1932 and headquartered in Raleigh, North Carolina, Advance Auto Parts is a publicly traded company listed on the New York Stock Exchange under the ticker AAP. The company operates approximately 4,300-4,800 locations across the United States, Canada, Puerto Rico, and the U.S. Virgin Islands, including both corporate stores and independently operated locations. Advance Auto Parts employs over 62,000 individuals and maintains a significant footprint through its Advance Auto Parts and Carquest brands. The company is generally rated below investment grade, with an approximate S&P credit rating of BB+ (non-investment grade), and does not maintain a widely published Moody's rating.

Investment highlights

  • 2016 build-to-suit construction for Advance Auto Parts
  • All red brick construction prototype
  • Recent long term lease extension, proving the tenants commitment to the location and market
  • ±9.5-Years remaining on the base term of a NNN lease, with Three, 5-Year extension options
  • Corporately guaranteed lease from Advance Auto Parts
  • 5-Mile population of 110,219 residents
  • Affluent demographics with an average household income of $170,144 annually
  • Ledgewood is located just 40-miles West of Manhattan NY
  • Advance Auto Parts (NYSE: AAP) is one of the nation's largest automotive aftermarket parts providers, serving both professional installers and do-it yourself customers.
  • Lease is corporate guaranteed by Advance Stores Company, Inc. (S&P Rated BB)
  • Considered an essential retailer, Advance Auto Parts has maintained consistent operations and rent payments, including throughout the COVID-19 pandemic.

Listing Contacts

JB
TX 688810
Matthews
Listed by Matthews

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$140,705.04
$11,725.42/mo

Valuation Metrics

0
DSCR
6.15%
Cap Rate
6.15%
ROI

Map

Zoning

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B-2 CommercialSpecial CommercialHighway Business District
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Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Patrick Forde
License
0122887
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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