Listed by SRS Real Estate Partners Newport Beach
$1,262,000
Advance Auto Parts
Details
APN 049-00-00-037.03
Property Type Retail
Sub Type Auto Shop
Square Footage 9,765
Cap Rate 8.35%
NOI $105,364
Tenancy Single
Brand/Tenant Advance Auto Parts
Lease Type NNN
Lease Term 15
Lease Expiration 11/30/2027
Remaining Term 1.5
Rent Bumps Yes
Lease Options 3 (5-Year)
Year Built 2012
Buildings 1
Acreage 0.870
Zoning Commercial
Parking Spaces 30 spaces
Parking Per SqFt 3.07
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/23/2012
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 8.35% CAP | 9,765 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Salyersville, KY. The tenant, Advance Auto Parts, Inc., has occupied the site for over 13-years and has 3 (5-year) options to extend. The lease features a 4.6% rental increase in the first option and 10% in the second and third options, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores.
Investment highlights
- The tenant, Advance Auto Parts, Inc., has occupied the site for over 13-years and has 3 (5-year) options to extend
- The lease features a 4.6% rental increase in the first option and 10% in the second and third options, providing a hedge against inflation
- Advance Auto Parts is a leading automotive parts provider with 4,300+ stores
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$105,364.00
$8,780.33/mo
Valuation Metrics
0
DSCR
8.35%
Cap Rate
8.35%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
