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Auto Parts

Napa Auto Parts

2150 E Thomas Rd, Phoenix, AZ 85016

Listing Price: $2,613,333

Cap Rate
6.75%
Tenant Name
Napa Auto
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
9,024
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.44

Investment Overview

Marcus & Millichap has been selected to exclusively market a
premier 9-property NAPA Auto Parts portfolio spanning nine states.
The portfolio is leased to Genuine Parts Company (NYSE: GPC) and
its subsidiary, offering a highly secure income stream backed by a
Fortune 500 parent company with over $24.3 billion in 2025
revenue. Demonstrating strong commitment to these locations, the
tenant recently executed 5-year lease extensions across the entire
portfolio—eight Master Lease renewals and one new direct lease for
the Florida location. All extended terms commence on November 1,
2027, running through October 31, 2032, ensuring stable and
predictable cash |ow.
The portfolio consists of 56,976 SF across nine master-leased
renewal properties plus one direct lease in Palmetto, FL, generating
a current annual base rent of $938,088 ($16.47/SF average). The
properties feature rent escalations in Year 4 of the renewal term for
the eight master leases, with strong built-in growth and an Absolute
NNN structure on the majority of the assets.
The portfolio is exceptionally passive and features built-in yield
growth. The eight master-leased properties include rent escalations
in Year 4 of the renewal term, providing a reliable in|ation hedge.
Furthermore, these eight properties operate under an Absolute
NNN Master Lease with absolute zero landlord responsibilities. The
ninth property (Palmetto, FL) operates under a standard NNN lease
where ownership is responsible only for the roof, exterior walls,
structural supports, foundations, underground utility lines, and
parking areas.Strategically positioned across New York, Virginia,
Texas, Minnesota, Mississippi, South Carolina, Arizona, Georgia, and
Florida, this nationwide footprint effectively mitigates regional
economic risk while capitalizing on consistent automotive
aftermarket demand. Ultimately, this offering presents a compelling
opportunity to acquire a stabilized, geographically diversi{ed
portfolio entirely insulated by an investment-grade corporate
guarantor.

Investment Highlights

  • NEW 5-YEAR LEASE EXTENSIONS The tenant executed 5-year lease extensions across the entire portfolio, commencing November 1, 2027, and running through October 31, 2032.
  • INVESTMENT-GRADE TENANT CREDIT Fully leased to Genuine Parts Company (NYSE: GPC) and its subsidiary.
  • PASSIVE ABSOLUTE NNN MASTER LEASE

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Senior Managing Director, Market Leader - Arizona

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Auto Parts

Napa Auto Parts

Listing Price: $2,613,333

Cap Rate
6.75%
Tenant Name
Napa Auto
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
9,024
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.44

Investment Highlights

  • NEW 5-YEAR LEASE EXTENSIONS The tenant executed 5-year lease extensions across the entire portfolio, commencing November 1, 2027, and running through October 31, 2032.
  • INVESTMENT-GRADE TENANT CREDIT Fully leased to Genuine Parts Company (NYSE: GPC) and its subsidiary.
  • PASSIVE ABSOLUTE NNN MASTER LEASE

Investment Overview

Marcus & Millichap has been selected to exclusively market a premier 9-property NAPA Auto Parts portfolio spanning nine states. The portfolio is leased to Genuine Parts Company (NYSE: GPC) and its subsidiary, offering a highly secure income stream backed by a Fortune 500 parent company with over $24.3 billion in 2025 revenue. Demonstrating strong commitment to these locations, the tenant recently executed 5-year lease extensions across the entire portfolio—eight Master Lease renewals and one new direct lease for the Florida location. All extended terms commence on November 1, 2027, running through October 31, 2032, ensuring stable and predictable cash |ow. The portfolio consists of 56,976 SF across nine master-leased renewal properties plus one direct lease in Palmetto, FL, generating a current annual base rent of $938,088 ($16.47/SF average). The properties feature rent escalations in Year 4 of the renewal term for the eight master leases, with strong built-in growth and an Absolute NNN structure on the majority of the assets. The portfolio is exceptionally passive and features built-in yield growth. The eight master-leased properties include rent escalations in Year 4 of the renewal term, providing a reliable in|ation hedge. Furthermore, these eight properties operate under an Absolute NNN Master Lease with absolute zero landlord responsibilities. The ninth property (Palmetto, FL) operates under a standard NNN lease where ownership is responsible only for the roof, exterior walls, structural supports, foundations, underground utility lines, and parking areas.Strategically positioned across New York, Virginia, Texas, Minnesota, Mississippi, South Carolina, Arizona, Georgia, and Florida, this nationwide footprint effectively mitigates regional economic risk while capitalizing on consistent automotive aftermarket demand. Ultimately, this offering presents a compelling opportunity to acquire a stabilized, geographically diversi{ed portfolio entirely insulated by an investment-grade corporate guarantor.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Senior Managing Director, Market Leader - Arizona

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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