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Auto Parts

Advance Auto Parts | Little Rock MSA | Recent Lease Extension | 20 Year Historical Occupancy

3680 Dave Ward Dr, Conway (Little Rock MSA), AR 72034

Listing Price: $1,500,000

Cap Rate
7.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.0
Gross SF
6,905
Guarantor
Corporate Guarantee
Rentable SF
6,905
Price/Gross SF
$217.23
Lease Type
Double Net
Rent Per Square Feet
$15.21

Investment Overview

Conway, Arkansas, is a vibrant city located in the central part of the state, approximately 30 miles northwest of Little Rock. Known as the “City of Colleges,” Conway is home to three institutions of higher learning: the University of Central Arkansas, Hendrix College, and Central Baptist College. This concentration of educational institutions contributes to the city’s youthful energy and cultural richness.

The University of Central Arkansas (UCA) is the largest of the three, offering a wide range of undergraduate and graduate programs. Hendrix College, a private liberal arts institution, is renowned for its rigorous academics and vibrant campus life. Central Baptist College provides a faith-based education with a focus on liberal arts. The presence of these colleges fosters a dynamic community with numerous cultural events, lectures, and performances open to the public.

Conway’s economy is diverse, with sectors ranging from education and healthcare to technology and manufacturing. The city has attracted several tech companies, earning it a spot in the burgeoning “Silicon Prairie” of the United States. This economic diversity has contributed to steady growth and a resilient job market.

Transportation in Conway is facilitated by its location along Interstate 40, providing easy access to Little Rock and other parts of the state. The city’s public transportation system, Conway Corporation, offers bus services that cater to the needs of residents and visitors alike.

Education is a cornerstone of the community, with the Conway Public School District recognized for its commitment to excellence. The city’s emphasis on education extends beyond the classroom, with numerous libraries, museums, and cultural institutions enriching the community.

Investment Highlights

  • Recent Lease Extension and 20 Year Historical Occupancy Demonstrating Strong Commitment to the Location. Net Lease Featuring a 14% Rental Increase in Option 1 and 5% at Each Remaining Option.
  • Positioned Along Area's Traffic and Retail Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 31k Vehicles.
  • Advance Auto Parts (NYSE: AAP) has a S&P Investment Grade Credit Rating of "BB+" and is Ranked #358 on the Fortune 500 List with an Annual Revenue of more than $9.09 Billion.
  • Conway has Experienced Significant Growth, leading to the Development of new Residential Areas and Commercial Establishments. It is the fastest growing City over 50k in Arkansas for a 2nd year and now the 38th fastest growing city in the U.S.
  • The City is Home to several Colleges, including the University of Central Arkansas (UCA), Hendrix College, and Central Baptist College. The Area offers a built-in Customer Base of young Adults.
  • In Close Proximity to University of Central Arkansas - The University is one of the oldest in Arkansas. It has 10k+ Graduate and Undergraduate Students, making it one of the Largest Universities in the State.
  • Near Baptist Health Medical Center Conway - a 120-Bed and a Level III Trauma Center. Opened in 2016, it has Significantly impacted the Community by enhancing access to Quality Healthcare.
  • Strong Daytime Employment Area - Surrounded by Numerous Established Distribution Centers, Industrial & Manufacturing Plants. Large Base of Employees w/in Walking Distance or a Short Drive.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    First Vice President Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Broker of Record

  • Steve Greer

    First Vice President Investments

    (225) 376-6729

    License(s) AR: PB00098133

    Arkansas

Financing By

Auto Parts

Advance Auto Parts | Little Rock MSA | Recent Lease Extension | 20 Year Historical Occupancy

Listing Price: $1,500,000

Cap Rate
7.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.0
Gross SF
6,905
Guarantor
Corporate Guarantee
Rentable SF
6,905
Price/Gross SF
$217.23
Lease Type
Double Net
Rent Per Square Feet
$15.21

Investment Highlights

  • Recent Lease Extension and 20 Year Historical Occupancy Demonstrating Strong Commitment to the Location. Net Lease Featuring a 14% Rental Increase in Option 1 and 5% at Each Remaining Option.
  • Positioned Along Area's Traffic and Retail Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 31k Vehicles.
  • Advance Auto Parts (NYSE: AAP) has a S&P Investment Grade Credit Rating of "BB+" and is Ranked #358 on the Fortune 500 List with an Annual Revenue of more than $9.09 Billion.
  • Conway has Experienced Significant Growth, leading to the Development of new Residential Areas and Commercial Establishments. It is the fastest growing City over 50k in Arkansas for a 2nd year and now the 38th fastest growing city in the U.S.
  • The City is Home to several Colleges, including the University of Central Arkansas (UCA), Hendrix College, and Central Baptist College. The Area offers a built-in Customer Base of young Adults.
  • In Close Proximity to University of Central Arkansas - The University is one of the oldest in Arkansas. It has 10k+ Graduate and Undergraduate Students, making it one of the Largest Universities in the State.
  • Near Baptist Health Medical Center Conway - a 120-Bed and a Level III Trauma Center. Opened in 2016, it has Significantly impacted the Community by enhancing access to Quality Healthcare.
  • Strong Daytime Employment Area - Surrounded by Numerous Established Distribution Centers, Industrial & Manufacturing Plants. Large Base of Employees w/in Walking Distance or a Short Drive.

Investment Overview

Conway, Arkansas, is a vibrant city located in the central part of the state, approximately 30 miles northwest of Little Rock. Known as the “City of Colleges,” Conway is home to three institutions of higher learning: the University of Central Arkansas, Hendrix College, and Central Baptist College. This concentration of educational institutions contributes to the city’s youthful energy and cultural richness. The University of Central Arkansas (UCA) is the largest of the three, offering a wide range of undergraduate and graduate programs. Hendrix College, a private liberal arts institution, is renowned for its rigorous academics and vibrant campus life. Central Baptist College provides a faith-based education with a focus on liberal arts. The presence of these colleges fosters a dynamic community with numerous cultural events, lectures, and performances open to the public. Conway’s economy is diverse, with sectors ranging from education and healthcare to technology and manufacturing. The city has attracted several tech companies, earning it a spot in the burgeoning “Silicon Prairie” of the United States. This economic diversity has contributed to steady growth and a resilient job market. Transportation in Conway is facilitated by its location along Interstate 40, providing easy access to Little Rock and other parts of the state. The city’s public transportation system, Conway Corporation, offers bus services that cater to the needs of residents and visitors alike. Education is a cornerstone of the community, with the Conway Public School District recognized for its commitment to excellence. The city’s emphasis on education extends beyond the classroom, with numerous libraries, museums, and cultural institutions enriching the community.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    First Vice President Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Broker of Record

  • Steve Greer

    First Vice President Investments

    (225) 376-6729

    License(s): AR: PB00098133

    Arkansas

Financing By

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