Auto Parts
Advance Auto Parts | Texas | Recent Lease Extension | 35+ Year Historical Occupancy
2763 N County Rd W, Odessa (West Texas), TX 79764
Listing Price: $2,145,000
Investment Overview
Odessa is a city in and the county seat of Ector County, Texas, United States. It is located primarily in Ector County, although a small portion of the city extends into Midland County The City of Odessa had a population of 122,004 as of July 1, 2023. It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County.
Historically, the Odessa economy has been primarily driven by the area’s oil industry, booming and busting in response to rises and falls in the crude oil price. Many of the city’s largest employers are oilfield supply companies and petrochemical processing companies. In recent decades, city leaders have begun trying to decrease the city’s reliance on the energy industry to moderate the boom-bust cycle and develop greater economic sustainability. Odessa has also taken steps to diversify the energy it produces. A new wind farm has been constructed in northern Ector County. A new coal pollution mitigation plant has been announced for a site previously entered in the Futuregen bidding. The new plant will be run by Summit Power and will be located near Penwell. This new plant could lead to the creation of 8,000 jobs in the area. Plans are in place for a nuclear powerplant to be run in conjunction with the nuclear engineering department at University of Texas of the Permian Basin, called High-Temperature Teaching and Test Reactor. This reactor is planned to be near Andrews.
Odessa’s main enclosed shopping mall is Music City Mall, which includes Dillards, JC Penney, Sears, Burlington Coat Factory, an indoor ice skating rink, and a television station. Construction of new retail in recent years has been concentrated on the city’s northeast side. In November 2007, the city approved a contract with a company that develops armaments for US Army helicopters to begin operations in Odessa.
There are several parks and playgrounds in Odessa including Bellaire Park, Crump Park, Optimist Park, and Polyantha Park. The Ellen Noel Art Museum of the Permian Basin and Parker House Ranching Heritage Museum are worth visiting.
Advance Auto Parts | Texas | Recent Lease Extension | 35+ Year Historical Occupancy
Investment Highlights
- Long Term Absolute Net Lease (Zero Landlord Obligations) Featuring 10% Rental Increases throughout the Initial Term and Options. Recent Lease Extension and 35+ Year Historical Occupancy.
- Advance Auto Parts is strategically located at the signalized, hard corner intersection of State Highway 450 and North County Road which supports over 43k vehicles per day.
- Advance Auto Parts (NYSE: AAP) has a S&P Credit Rating of "BB+" and is Ranked #358 on the Fortune 500 List with an Annual Revenue of more than $9.09 Billion.
- The site is just under a mile east of The Appleridge Apartments (96 units) and the Manor Crest Apartments (106 units), providing a direct residential consumer base from which to draw.
- The asset is positioned within walking distance from Odessa College (5,213 students) and New Tech Odessa (361 students), further increasing consumer traffic to the immediate subject trade area.
- Densely Populated Area: Features more than 107k People Residing within a 5-Mile Radius and 63k Employees Support the Trade Area.
- Odessa, Texas, has seen Consistent growth over the Years, driven by the Energy Sector, Manufacturing, and an Expanding Retail Industry.
- Minutes from Odessa-Schlemeyer Field Airport - a Public-Use Airport, primarily serving General Aviation. It supports Private, Business Aircrafts, and Essential Aviation Services for the Local Community. Adjacent to a United Supermarkets and in Close Proximity to Numerous other National Retailers including H-E-B, Walmart Supercenter, Walgreens, CVS Pharmacy and many more.
Exclusively Listed By
Broker of Record
-
Alvin N. Mansour
Executive Managing Director Investments
Auto Parts
Advance Auto Parts | Texas | Recent Lease Extension | 35+ Year Historical Occupancy
Listing Price: $2,145,000
Investment Highlights
- Long Term Absolute Net Lease (Zero Landlord Obligations) Featuring 10% Rental Increases throughout the Initial Term and Options. Recent Lease Extension and 35+ Year Historical Occupancy.
- Advance Auto Parts is strategically located at the signalized, hard corner intersection of State Highway 450 and North County Road which supports over 43k vehicles per day.
- Advance Auto Parts (NYSE: AAP) has a S&P Credit Rating of "BB+" and is Ranked #358 on the Fortune 500 List with an Annual Revenue of more than $9.09 Billion.
- The site is just under a mile east of The Appleridge Apartments (96 units) and the Manor Crest Apartments (106 units), providing a direct residential consumer base from which to draw.
- The asset is positioned within walking distance from Odessa College (5,213 students) and New Tech Odessa (361 students), further increasing consumer traffic to the immediate subject trade area.
- Densely Populated Area: Features more than 107k People Residing within a 5-Mile Radius and 63k Employees Support the Trade Area.
- Odessa, Texas, has seen Consistent growth over the Years, driven by the Energy Sector, Manufacturing, and an Expanding Retail Industry.
- Minutes from Odessa-Schlemeyer Field Airport - a Public-Use Airport, primarily serving General Aviation. It supports Private, Business Aircrafts, and Essential Aviation Services for the Local Community. Adjacent to a United Supermarkets and in Close Proximity to Numerous other National Retailers including H-E-B, Walmart Supercenter, Walgreens, CVS Pharmacy and many more.
Investment Overview
Odessa is a city in and the county seat of Ector County, Texas, United States. It is located primarily in Ector County, although a small portion of the city extends into Midland County The City of Odessa had a population of 122,004 as of July 1, 2023. It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. Historically, the Odessa economy has been primarily driven by the area’s oil industry, booming and busting in response to rises and falls in the crude oil price. Many of the city’s largest employers are oilfield supply companies and petrochemical processing companies. In recent decades, city leaders have begun trying to decrease the city’s reliance on the energy industry to moderate the boom-bust cycle and develop greater economic sustainability. Odessa has also taken steps to diversify the energy it produces. A new wind farm has been constructed in northern Ector County. A new coal pollution mitigation plant has been announced for a site previously entered in the Futuregen bidding. The new plant will be run by Summit Power and will be located near Penwell. This new plant could lead to the creation of 8,000 jobs in the area. Plans are in place for a nuclear powerplant to be run in conjunction with the nuclear engineering department at University of Texas of the Permian Basin, called High-Temperature Teaching and Test Reactor. This reactor is planned to be near Andrews. Odessa’s main enclosed shopping mall is Music City Mall, which includes Dillards, JC Penney, Sears, Burlington Coat Factory, an indoor ice skating rink, and a television station. Construction of new retail in recent years has been concentrated on the city’s northeast side. In November 2007, the city approved a contract with a company that develops armaments for US Army helicopters to begin operations in Odessa. There are several parks and playgrounds in Odessa including Bellaire Park, Crump Park, Optimist Park, and Polyantha Park. The Ellen Noel Art Museum of the Permian Basin and Parker House Ranching Heritage Museum are worth visiting.
Exclusively Listed By
Broker of Record
-
Alvin N. Mansour
Executive Managing Director Investments
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