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Auto Parts

Advance Auto Parts

2124 N Highland Ave, Jackson, TN 38305

Listing Price: $1,136,408

Cap Rate
7.15%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
3.3
Gross SF
5,675
Guarantor
Corporate Guarantee
Rentable SF
5,675
Price/Gross SF
$200.25
Lease Type
Double Net
Rent Per Square Feet
$14.32

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 2124 North Highland Avenue (the Property), a 5,675-square-foot Auto Parts Store in which Advance Auto Parts has just under three-and-a-half years remaining on their double-net lease. The tenant has operated at this location since 1998 and has two 3-year renewal options remaining, with 7.5% rent increases in each option to offset inflation. The Property is strategically located on one of Jackson’s major retail corridors, with neighboring retail tenants such as AT&T, Starbucks, KFC, Chick-fil-A, Papa Johns Pizza, American Freight, Sonic Drive-In, Burger King, and numerous others. The Old Hickory Shopping Mall is located just south of the property, with retailers such as Belk, Chuck E. Cheese, JCPenney and Sears. Additionally, the Property is less than one mile south of the entrance to Interstate 40 and U.S. 412 providing the tenant with maximum visibility to highway travelers.

Investment Highlights

  • Prime Retail Location — Visibility to Over 32,000 Vehicles Per Day
  • Over Three Years Remaining on Double Net Lease — Minimal Landlord Responsibilities
  • Significant Rent Increases in Two 3-Year Renewal Options Remaining
  • Nearby Retailers Include Chick-fil-A, Starbucks, Sonic Drive-In, Papa Johns Pizza, KFC, First Horizon Bank, Burger King, American Freight, and More
  • Daytime Population of Over 91,100 Within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Auto Parts

Advance Auto Parts

Listing Price: $1,136,408

Cap Rate
7.15%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
3.3
Gross SF
5,675
Guarantor
Corporate Guarantee
Rentable SF
5,675
Price/Gross SF
$200.25
Lease Type
Double Net
Rent Per Square Feet
$14.32

Investment Highlights

  • Prime Retail Location — Visibility to Over 32,000 Vehicles Per Day
  • Over Three Years Remaining on Double Net Lease — Minimal Landlord Responsibilities
  • Significant Rent Increases in Two 3-Year Renewal Options Remaining
  • Nearby Retailers Include Chick-fil-A, Starbucks, Sonic Drive-In, Papa Johns Pizza, KFC, First Horizon Bank, Burger King, American Freight, and More
  • Daytime Population of Over 91,100 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 2124 North Highland Avenue (the Property), a 5,675-square-foot Auto Parts Store in which Advance Auto Parts has just under three-and-a-half years remaining on their double-net lease. The tenant has operated at this location since 1998 and has two 3-year renewal options remaining, with 7.5% rent increases in each option to offset inflation. The Property is strategically located on one of Jackson’s major retail corridors, with neighboring retail tenants such as AT&T, Starbucks, KFC, Chick-fil-A, Papa Johns Pizza, American Freight, Sonic Drive-In, Burger King, and numerous others. The Old Hickory Shopping Mall is located just south of the property, with retailers such as Belk, Chuck E. Cheese, JCPenney and Sears. Additionally, the Property is less than one mile south of the entrance to Interstate 40 and U.S. 412 providing the tenant with maximum visibility to highway travelers.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

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