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Auto Parts

Advance Auto Parts

9845 Mason Rd, Richmond, TX 77406

Listing Price: $2,775,000

Cap Rate
5.25%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
9.6
Gross SF
6,912
Guarantor
Corporate Guarantee
Rentable SF
6,912
Price/Gross SF
$401.48
Lease Type
Double Net
Rent Per Square Feet
$21.08

Investment Overview

Advance Auto Parts (NYSE: AAP), headquartered in Raleigh, North Carolina, AAP is the largest automotive aftermarket parts provider in North America, serves both the professional installer and do-it yourself customers. As of April 23, 2022, AAP operated 4,687 company-operated stores, 311 Worldpac branches, and serves approximately 1,318 independently owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. AAP employs approximately 74,000 Team Members. Richmond is a city in and the county seat of Fort Bend County, Texas. Located within the Houston-The Woodlands-Sugar Land metropolitan area, the city is home to an estimated 11,627 residents. The city is situated on the Brazos River, 15 miles southwest of Houston.

Investment Highlights

  • 10 Years Remaining on Corporate-Guaranteed Lease with Advance Auto Parts
  • Eight Percent Rental Increases Every Five Years in Each Renewal Option
  • 190,769 Residents Within a Five-Mile Radius - Houston MSA
  • Immediate Area is Experiencing Significant Growth - Population and Households Projected to Increase Approximately 30 Percent Within a One-Mile Radius by 2026
  • Located Immediately Off Grand Parkway/TX-99 (Over 40,000 Cars per Day), Providing Direct Access to Interstate Freeways 10 and 69
  • Adjacent to National Retail Tenants - Kroger, Dollar Tree, Sonic Drive-In, Taco Bell, McDonald's, Walgreens, ALDI, and More
  • Affluent Trade Area - Average Household Income Exceeds $152,000 Within One Mile
  • Surrounded by New Residential, Commercial, and Retail Developments - New 3.7 Million-Square-Foot Amazon Fulfillment Center Located Five Minutes Away

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Auto Parts

Advance Auto Parts

Listing Price: $2,775,000

Cap Rate
5.25%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
9.6
Gross SF
6,912
Guarantor
Corporate Guarantee
Rentable SF
6,912
Price/Gross SF
$401.48
Lease Type
Double Net
Rent Per Square Feet
$21.08

Investment Highlights

  • 10 Years Remaining on Corporate-Guaranteed Lease with Advance Auto Parts
  • Eight Percent Rental Increases Every Five Years in Each Renewal Option
  • 190,769 Residents Within a Five-Mile Radius - Houston MSA
  • Immediate Area is Experiencing Significant Growth - Population and Households Projected to Increase Approximately 30 Percent Within a One-Mile Radius by 2026
  • Located Immediately Off Grand Parkway/TX-99 (Over 40,000 Cars per Day), Providing Direct Access to Interstate Freeways 10 and 69
  • Adjacent to National Retail Tenants - Kroger, Dollar Tree, Sonic Drive-In, Taco Bell, McDonald's, Walgreens, ALDI, and More
  • Affluent Trade Area - Average Household Income Exceeds $152,000 Within One Mile
  • Surrounded by New Residential, Commercial, and Retail Developments - New 3.7 Million-Square-Foot Amazon Fulfillment Center Located Five Minutes Away

Investment Overview

Advance Auto Parts (NYSE: AAP), headquartered in Raleigh, North Carolina, AAP is the largest automotive aftermarket parts provider in North America, serves both the professional installer and do-it yourself customers. As of April 23, 2022, AAP operated 4,687 company-operated stores, 311 Worldpac branches, and serves approximately 1,318 independently owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. AAP employs approximately 74,000 Team Members. Richmond is a city in and the county seat of Fort Bend County, Texas. Located within the Houston-The Woodlands-Sugar Land metropolitan area, the city is home to an estimated 11,627 residents. The city is situated on the Brazos River, 15 miles southwest of Houston.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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