1404 West Dickinson Boulevard, Fort Stockton, TX 79735 For Sale

Lease and Location

• Extremely attractive 8% cap rate for a stabilized net lease deal
• 4.50-Years remaining on the base term of a 15-Year lease (Four, 5-Year renewal options w/ 5% increases)
• 2005 retrofit for Advance Auto Parts (former Steeles department store)
• 13,625 SF Advance Auto Hub store (larger footprint than their prototypical 6,500 - 7,000 SF store)
• Below market rent: AAP is currently paying $6.56 PSF (CoStar shows market rent of $8.16 PSF)
• Affluent demographics with an average household income of $109,947 annually
• The subject property is located along US Hwy 285, which is the main thoroughfare through the center of the city
• Corporately guaranteed lease from Advance Auto
• Traffic counts exceed 14,780 vehicles daily directly in front of the store
• Texas in an income tax free state

Tenant

• 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.