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Auto Parts

Advance Auto Parts | 6.68% CAP | Bowling Green MSA

204 W G L Smith St, Morgantown, KY 42261

Listing Price: $1,350,000

Cap Rate
6.68%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
5.2
Gross SF
6,895
Guarantor
Corporate Guarantee
Rentable SF
6,895
Price/Gross SF
$195.79
Lease Type
Double Net
Rent Per Square Feet
$13.07

Investment Overview

Located at the high-traffic intersection of W G L Smith Street (6,641 VPD) and N Tyler Street, the property offers exceptional visibility and accessibility. The company entered into a 15-year lease in 2015, with about 5.4 years remaining on the lease term. The lease features three 5-year renewal options, each with a 5% increase in rent. The double-net (NN) lease structure imposes minimal landlord obligations, covering only maintenance of the roof, building structure, slab, parking area, and HVAC system. It includes two points of access, with curb cuts on both streets.

The site benefits from its proximity to a range of prominent national and regional retailers, including Walgreens, Morgantown Bank & Trust, Super Wash, King Drug & Home Care, NAPA Auto Parts, and Ace Hardware. Positioned off Natcher Parkway (Interstate 165, 9,030 VPD) in south central Kentucky, Morgantown is conveniently located near Bowling Green (22 miles) and Louisville (88 miles). The surrounding trade area has a population of 5,826 and an average household income of $57,571 within a 5-mile radius. Advance Auto Parts is the top provider of automotive aftermarket parts in North America, with a global footprint of 4,806 locations. The parent company, Advance Auto Parts, Inc., holds a BBB- rating from S&P, reflecting its solid financial standing. Advance Auto Parts remains the largest automotive aftermarket parts supplier in North America.

Investment Highlights

  • The property is situated at the signalized intersection of W G L Smith Street (6,641 VPD) and N Tyler Street with two points of ingress/egress.
  • The area along W G L Smith Street is home to prominent national/regional retailers, including Walgreens, Morgantown Bank & Trust, Super Wash, King Drug & Home Care, NAPA Auto Parts, and Ace Hardware.
  • There are +5.4 years remaining on the original term, with three additional 5-year renewal options available, each featuring a 5% rent increase.
  • The lease is double-net (NN), meaning the landlord's responsibilities are minimal.
  • Advance Auto Parts (NYSE: AAP) is the leading automotive aftermarket parts provider in North America, with a network.

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s) KY: 286261

    Kentucky

Auto Parts

Advance Auto Parts | 6.68% CAP | Bowling Green MSA

Listing Price: $1,350,000

Cap Rate
6.68%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
5.2
Gross SF
6,895
Guarantor
Corporate Guarantee
Rentable SF
6,895
Price/Gross SF
$195.79
Lease Type
Double Net
Rent Per Square Feet
$13.07

Investment Highlights

  • The property is situated at the signalized intersection of W G L Smith Street (6,641 VPD) and N Tyler Street with two points of ingress/egress.
  • The area along W G L Smith Street is home to prominent national/regional retailers, including Walgreens, Morgantown Bank & Trust, Super Wash, King Drug & Home Care, NAPA Auto Parts, and Ace Hardware.
  • There are +5.4 years remaining on the original term, with three additional 5-year renewal options available, each featuring a 5% rent increase.
  • The lease is double-net (NN), meaning the landlord's responsibilities are minimal.
  • Advance Auto Parts (NYSE: AAP) is the leading automotive aftermarket parts provider in North America, with a network.

Investment Overview

Located at the high-traffic intersection of W G L Smith Street (6,641 VPD) and N Tyler Street, the property offers exceptional visibility and accessibility. The company entered into a 15-year lease in 2015, with about 5.4 years remaining on the lease term. The lease features three 5-year renewal options, each with a 5% increase in rent. The double-net (NN) lease structure imposes minimal landlord obligations, covering only maintenance of the roof, building structure, slab, parking area, and HVAC system. It includes two points of access, with curb cuts on both streets. The site benefits from its proximity to a range of prominent national and regional retailers, including Walgreens, Morgantown Bank & Trust, Super Wash, King Drug & Home Care, NAPA Auto Parts, and Ace Hardware. Positioned off Natcher Parkway (Interstate 165, 9,030 VPD) in south central Kentucky, Morgantown is conveniently located near Bowling Green (22 miles) and Louisville (88 miles). The surrounding trade area has a population of 5,826 and an average household income of $57,571 within a 5-mile radius. Advance Auto Parts is the top provider of automotive aftermarket parts in North America, with a global footprint of 4,806 locations. The parent company, Advance Auto Parts, Inc., holds a BBB- rating from S&P, reflecting its solid financial standing. Advance Auto Parts remains the largest automotive aftermarket parts supplier in North America.

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s): KY: 286261

    Kentucky

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