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Auto Parts

Advance Auto Parts | Walmart Outparcel

981 High Point St, Randleman, NC 27317

Listing Price: $1,514,000

Cap Rate
6.50%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
8.7
Guarantor
Corporate Guarantee
Rentable SF
7,000
Lease Type
Double Net
Rent Per Square Feet
$14.06

Investment Overview

RECENT 10 YEAR LEASE EXTENSION
• Advance Auto Parts recently exercised an early 10 year lease extension that commenced in November 2022 and expires in December 2032.
• The tenant has been operating successfully at this location for nearly 20 years and this early extension speaks to the tenant’s dedication and confidence in this store and market.
• There are 3, Five year option periods with a 10% rent increase in the first option period and 7% rent increases in the second and third option period.

LANDLORD IS ONLY RESPONSIBLE FOR STRUCTURE
• Rare lease with limited landlord responsibilities of only structure.
• The tenant is fully responsible for all repair and replacement of the roof, parking lot, & HVAC. Tenant is also responsible for all taxes, insurance, and utilities.

OUTPARCEL TO WALMART SUPERCENTER OFF AN INTERSTATE (22,500 VPD)
• Outparcel to Walmart Supercenter which supports over 1.6M customers each year.
• Other outparcels to the Walmart include Wendys, Bojangles, Taco Bell, and Sheetz.
• Positioned on High Point St (14,000 VPD) and is directly off Interstate 73 (22,500 VPD) that connects Randleman to Greensboro.

GREENSBORO – HIGH POINT – WINSTON SALEM MSA
• The Subject property is located 20 minutes south of downtown Greensboro and is a part of the MSA.
• The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem, and Highpoint, NC.
• The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd-largest combined statistical area in the United States
• There are more than 20 Colleges and Universities within the Triad including Wake Forest University, Elon University, and High Point University. These schools have a combined student count of 20,000.

LARGEST AUTOMOTIVE AFTERMARKET PARTS PROVIDER
• Advance Auto Parts is the largest Automotive aftermarket parts provider in North America for both the professional installer and the do-it-yourself customers.
• Advance Auto operates 4,457+ stores in 47 states and generated $11.3B in revenue in 2021.
• Headquartered in Raleigh, NC and has been in business for 92 years. From 2020 to 2021, employment in Chilton, WI grew at a rate of 4.34%, from 2.08k employees to 2.17k employees.

Investment Highlights

  • Landlord Is Only Responsible For Structure
  • Recent 10 Year Lease Extension
  • 20 Year Operating History
  • Outparcel To Walmart Supercenter
  • Greensboro, High Point & Winston Salem MSA
  • Advance Auto Parts Has 4,457+ Stores In 47 States

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Auto Parts

Advance Auto Parts | Walmart Outparcel

Listing Price: $1,514,000

Cap Rate
6.50%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
8.7
Guarantor
Corporate Guarantee
Rentable SF
7,000
Lease Type
Double Net
Rent Per Square Feet
$14.06

Investment Highlights

  • Landlord Is Only Responsible For Structure
  • Recent 10 Year Lease Extension
  • 20 Year Operating History
  • Outparcel To Walmart Supercenter
  • Greensboro, High Point & Winston Salem MSA
  • Advance Auto Parts Has 4,457+ Stores In 47 States

Investment Overview

RECENT 10 YEAR LEASE EXTENSION • Advance Auto Parts recently exercised an early 10 year lease extension that commenced in November 2022 and expires in December 2032. • The tenant has been operating successfully at this location for nearly 20 years and this early extension speaks to the tenant’s dedication and confidence in this store and market. • There are 3, Five year option periods with a 10% rent increase in the first option period and 7% rent increases in the second and third option period. LANDLORD IS ONLY RESPONSIBLE FOR STRUCTURE • Rare lease with limited landlord responsibilities of only structure. • The tenant is fully responsible for all repair and replacement of the roof, parking lot, & HVAC. Tenant is also responsible for all taxes, insurance, and utilities. OUTPARCEL TO WALMART SUPERCENTER OFF AN INTERSTATE (22,500 VPD) • Outparcel to Walmart Supercenter which supports over 1.6M customers each year. • Other outparcels to the Walmart include Wendys, Bojangles, Taco Bell, and Sheetz. • Positioned on High Point St (14,000 VPD) and is directly off Interstate 73 (22,500 VPD) that connects Randleman to Greensboro. GREENSBORO – HIGH POINT – WINSTON SALEM MSA • The Subject property is located 20 minutes south of downtown Greensboro and is a part of the MSA. • The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem, and Highpoint, NC. • The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd-largest combined statistical area in the United States • There are more than 20 Colleges and Universities within the Triad including Wake Forest University, Elon University, and High Point University. These schools have a combined student count of 20,000. LARGEST AUTOMOTIVE AFTERMARKET PARTS PROVIDER • Advance Auto Parts is the largest Automotive aftermarket parts provider in North America for both the professional installer and the do-it-yourself customers. • Advance Auto operates 4,457+ stores in 47 states and generated $11.3B in revenue in 2021. • Headquartered in Raleigh, NC and has been in business for 92 years. From 2020 to 2021, employment in Chilton, WI grew at a rate of 4.34%, from 2.08k employees to 2.17k employees.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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