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Auto Parts

Advance Auto Parts | Located in High Barrier-To-Entry Seattle MSA Submarket

2402 Auburn Way N, Auburn, WA 98002

Listing Price: $2,305,000

Cap Rate
6.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
6,889
Lease Type
Double Net
Rent Per Square Feet
$20.06

Investment Overview

Marcus and Millichap's Brown Retail Group has been exclusively selected to market for sale the Advance Auto Parts store located in affluent the Seattle-Tacoma MSA submarket, Auburn, WA. The Lease features 7 years of term remaining from the original 15-year term. The Property, built in 2016 with high-quality finishes and featuring a 15-year roof warranty, operates on a NN lease, with minimal landlord responsibilities (roof, structure, parking lot). It benefits from being directly on Auburn Way (20,000+ VPD) and close proximity to Auburn's automotive district including national brands such as Honda, Hyundai, Auburn, Mitsubishi, GMC, Toyota, Les Schwab, Service King Collision, and Caliber Collision. The Property features large pylon signage and easy ingress/egress from both traffic directions. Within a 5-mile radius, there are over 268,000 residents with average household incomes exceeding $95,000; the population has grown over 26% since 2010; and the population is projected to increase by another 2% in the next 5 years. Within a 1-mile radius, the population has grown by more than 42% since 2010. Advance Auto Parts is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As one of the largest auto part retailers in the United States, Advance Auto operates over 4,700 Advance Stores, over 300 Worldpac branches, and services to over 1,300 independently owned Carquest branded stores.

Investment Highlights

  • 7-Year Lease / Strong Corporate Guarantee
  • High-Quality 2016 Construction
  • Minimal Landlord Responsibilities
  • 15-Year Roof Warranty
  • Strategic, High-Visibility Location
  • Affluent, High-Growth Sub-Market
  • Large 0.71 Acre Lot with Ample Parking
  • Income Tax Free State

Exclusively Listed By

Auto Parts

Advance Auto Parts | Located in High Barrier-To-Entry Seattle MSA Submarket

Listing Price: $2,305,000

Cap Rate
6.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
6,889
Lease Type
Double Net
Rent Per Square Feet
$20.06

Investment Highlights

  • 7-Year Lease / Strong Corporate Guarantee
  • High-Quality 2016 Construction
  • Minimal Landlord Responsibilities
  • 15-Year Roof Warranty
  • Strategic, High-Visibility Location
  • Affluent, High-Growth Sub-Market
  • Large 0.71 Acre Lot with Ample Parking
  • Income Tax Free State

Investment Overview

Marcus and Millichap's Brown Retail Group has been exclusively selected to market for sale the Advance Auto Parts store located in affluent the Seattle-Tacoma MSA submarket, Auburn, WA. The Lease features 7 years of term remaining from the original 15-year term. The Property, built in 2016 with high-quality finishes and featuring a 15-year roof warranty, operates on a NN lease, with minimal landlord responsibilities (roof, structure, parking lot). It benefits from being directly on Auburn Way (20,000+ VPD) and close proximity to Auburn's automotive district including national brands such as Honda, Hyundai, Auburn, Mitsubishi, GMC, Toyota, Les Schwab, Service King Collision, and Caliber Collision. The Property features large pylon signage and easy ingress/egress from both traffic directions. Within a 5-mile radius, there are over 268,000 residents with average household incomes exceeding $95,000; the population has grown over 26% since 2010; and the population is projected to increase by another 2% in the next 5 years. Within a 1-mile radius, the population has grown by more than 42% since 2010. Advance Auto Parts is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As one of the largest auto part retailers in the United States, Advance Auto operates over 4,700 Advance Stores, over 300 Worldpac branches, and services to over 1,300 independently owned Carquest branded stores.

Exclusively Listed By

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