Listed by Matthews, B4 Properties
$3,674,400
Advance Auto Parts | 2026 Construction | Fairhope, AL
Details
Property Type Retail
Sub Type Auto Shop
Cap Rate 6%
NOI $220,464
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone, O'Reilly Auto Parts
Lease Type NNN
Lease Term 15
Lease Expiration 08/31/2041
Remaining Term 15
Rent Bumps Yes
Lease Options Five, 5-Year Options Remaining
Class B
Year Built 2026
Acreage 1.090
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/15/2026
Ground Lease No
Ownership Fee Simple
Publix Outparcel | NNN | Affluent Community
Investment highlights
- 2026 built-to-suit for Advance Auto Parts
- 15 Year NNN lease with limited landlord responsibilities and a 10% bump in year 10
- 5-mile population in excess of 55,051 residents
- Extremely strong population growth of 5.36% annually over the past 5 years and projected 14.47% annual growth over the next 5 years
- Robust average household income of $135,801 (5 mile)
- Subject property is a Publix outparcel with other new development including Express Oil Change, Culver's, and 7 Brew on the other pads
- Subject property is located in Baldwin County, one of the top 10 fastest growing counties in the country
- 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
Listed by Matthews, B4 Properties
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$220,464.00
$18,372.00/mo
Valuation Metrics
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DSCR
6%
Cap Rate
6%
ROI
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