Listed by Marcus & Millichap - The Zylberglait Group
$15,789,854
NAPA Auto Parts 9-Store Net-Lease Portfolio
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 56,976
Lease Type Absolute NNN
Buildings 9
Investment Type Net Lease
Tenant Credit Credit Rated
Retail | 56,976 SqFt
Marketing description
Marcus & Millichap has been selected to exclusively market a premier 9-property NAPA Auto Parts portfolio spanning nine states. The portfolio is leased to Genuine Parts Company (NYSE: GPC) and its subsidiary, offering a highly secure income stream backed by a Fortune 500 parent company with over $24.3 billion in 2025 revenue. Demonstrating strong commitment to these locations, the tenant recently executed 5-year lease extensions across the entire portfolio—eight Master Lease renewals and one new direct lease for the Florida location. All extended terms commence on November 1, 2027, running through October 31, 2032, ensuring stable and predictable cash |ow.
The portfolio consists of 56,976 SF across nine master-leased renewal properties plus one direct lease in Palmetto, FL, generating a current annual base rent of $938,088 ($16.47/SF average). The properties feature rent escalations in Year 4 of the renewal term for the eight master leases, with strong built-in growth and an Absolute NNN structure on the majority of the assets.
The portfolio is exceptionally passive and features built-in yield growth. The eight master-leased properties include rent escalations in Year 4 of the renewal term, providing a reliable in|ation hedge. Furthermore, these eight properties operate under an Absolute NNN Master Lease with absolute zero landlord responsibilities. The ninth property (Palmetto, FL) operates under a standard NNN lease where ownership is responsible only for the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas. Strategically positioned across New York, Virginia, Texas, Minnesota, Mississippi, South Carolina, Arizona, Georgia, and Florida, this nationwide footprint effectively mitigates regional economic risk while capitalizing on consistent automotive aftermarket demand. Ultimately, this offering presents a compelling opportunity to acquire a stabilized, geographically diversed portfolio entirely insulated by an investment-grade corporate guarantor.
Investment highlights
- New 5-year Lease Extensions The tenant executed 5-year lease extensions across the entire portfolio, commencing November 1, 2027, and running through October 31, 2032. This demonstrates strong commitment to the sites and provides reliable cash |ow.
- Investment-grade Tenant Credit Fully leased to Genuine Parts Company (NYSE: GPC) and its subsidiary. GPC is a Fortune 500 company holding an investment-grade credit rating, with a network of over 6,000 NAPA Auto Parts stores
- Passive Absolute Nnn Master Lease Eight properties operate under an absolute NNN Master Lease structure. This minimizes landlord responsibilities to absolute zero, with the tenant responsible for all taxes, insurance, and maintenance.
- Strategic Geographic Diversification The portfolio encompasses a national retail footprint strategically distributed across nine states (NY, VA, TX, MN, MS, SC, AZ, GA, FL), effectively mitigating localized market risks.
- Built-in Rent Growth The eight master-leased properties feature a scheduled 3.0% rent increase at the start of Year 4 of the renewal term, providing a reliable hedge against in|ation.
- Fortune 500 Parent Company Genuine Parts Company secured the 175th position on the 2024 Fortune 500 list. Backed by over $23.5 billion in 2024 revenue, the guarantor provides exceptional Fnancial stability.
- Minimal Landlord Responsibilities (Florida) The Palmetto, Florida property operates under a NNN lease structure. Ownership is only responsible for the roof, structure, foundation, and parking areas, keeping management requirements very low.
- Renewal Options Remaining The Master Lease features Five 5-year renewal options remaining for eight properties. The Florida location also includes an additional 5-year option, providing long-term security beyond the current term.
Listing Contacts
Listed by Marcus & Millichap - The Zylberglait Group
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
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
