Listed by SURMOUNT
$2,158,489
Advance Auto Parts - Houston MSA
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,912
Cap Rate 6.75%
NOI $145,698
Occupancy 100%
Tenancy Single
Brand/Tenant Advance Auto Parts
Lease Type NNN
Lease Term 15
Lease Expiration 08/31/2032
Remaining Term 6.2
Rent Bumps Yes
Lease Options 3, 5-Year Options
Price per SqFt $312
Year Built 2017
Acreage 0.900
Tenant Credit Corporate Guarantee
Lease Commencement 08/30/2017
Ground Lease No
Ownership Fee Simple
Retail | 6.75% Cap | 0.90 AC
Marketing description
Surmount is pleased to present the exclusive listing for an Advance Auto Parts located at 9845 Mason Road, Richmond, TX 77406. The site consists of roughly 6,912 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Advance Auto Parts is subject to a 15-Year Modified NNN lease, which commenced 8/30/2017. The current annual rent is $145,698 and has scheduled increases of 10% increase in option 1, 8% increases in options 2 & 3.
Investment highlights
- Corporate Guaranteed Lease with Established National Tenant | The property is leased to Advance Auto Parts, Inc., one of the largest automotive aftermarket parts providers in the country with over 4,700 stores nationwide. The corporate guarantee from a publicly traded, investment-grade tenant provides long-term stability and minimal risk.
- Long-Term Lease with Structured Rental Increases | The lease features a 15-year initial term with approximately 7 years remaining, offering passive income through 2032. Built-in rental increases include a 10% bump in the first option and 8% increases in subsequent options, providing reliable income growth.
- Direct Proximity to Two Dense Residential Communities | The property is directly adjacent to Waterside Village (246 units) and Olympus at Waterside Estates (229 units), providing built-in foot traffic and a strong, stable customer base from two high-density residential communities.
- Advance Auto Parts Executing National Growth Strategy | After completing its nationwide store optimization program, Advance Auto Parts announced plans to resume unit growth with approximately 30 new stores in 2025 and more than 100 additional openings through 2027, reflecting renewed confidence in the brands long-term strategy.
- Affluent, Rapidly Growing Submarket of Houston | Located in Richmond, TX, part of the thriving Houston MSA, this area has experienced strong population and household growth. The 3-mile radius has seen over 5% annual population growth since 2020 and boasts a median household income exceeding $100,000.
- Surrounded by National Retailers & Dense Housing | The property sits at the heart of a high-traffic retail corridor, directly across from major anchors including Target, H-E-B, Hobby Lobby, Starbucks, and PetSmart. Nearby tenants include Kroger, McDonalds, Chase, and Walgreens, enhancing daily consumer traffic.
- Signalized Corner with Excellent Visibility and Access | Situated on Mason Road (ADTC: 21,590) with nearby access to Grand Parkway (ADTC: 43,936), the property benefits from strong traffic counts and easy ingress/egress. The surrounding area is filled with master-planned communities, schools, and medical centers.
- Proximity to Aliana - One of Houston's Top Master-Planned Communities | The property is less than a mile from Aliana, a 2,000+ acre award-winning master-planned community with luxury homes, retail, and schools. Aliana continues to expand and attract high-income residents, further strengthening the trade area.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,698.00
$12,141.50/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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