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Auto Parts

Advance Auto Parts

4845 Broadway, Depew, NY 14043

Listing Price: $1,400,000

Cap Rate
7.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.5
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$200.00
Lease Type
Double Net
Rent Per Square Feet
$14.00

Investment Overview

Marcus & Millichap is pleased to bring to market Advance Auto Parts in Depew, NY (Buffalo MSA). The lease was recently extended for five years, providing nearly eight years of remaining lease term.

Investment Highlights

  • Advance Auto Parts Double-Net Lease with 7.75 Years Remaining in the Buffalo, NY MSA
  • Just Early Extended Lease for 5 Years thru December 2028 Showing Strong Commitment to Site
  • 2003 Build-to-Suit with 10-Year Original Lease; 18-Year History at the Site with Two Long-Term Renewals
  • Huge Traffic Counts – 49,400 VPD at Adjacent Signalized Intersection
  • Dense Infill Middle-Income Location: 8,505 Residents within 1-Mi & 73,045 Residents within 3-Mi; AHHI of $63K within 1-Mi
  • Investment-Grade Tenant Carrying S&P "BBB-" Credit Rating
  • Strong Intrinsic Value in the Land & Building Given Central Location, Infill Demographics, Huge Traffic Counts, and Easily Retrofit Rectangular Box
  • Depew is a Dense, Outer-Ring Suburb of Buffalo Adjacent to Cheektowaga and Just South of the Buffalo-Niagara Airport; 12 Miles from Downtown Buffalo

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
7.00%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
7.5
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$200.00
Lease Type
Double Net
Rent Per Square Feet
$14.00

Investment Highlights

  • Advance Auto Parts Double-Net Lease with 7.75 Years Remaining in the Buffalo, NY MSA
  • Just Early Extended Lease for 5 Years thru December 2028 Showing Strong Commitment to Site
  • 2003 Build-to-Suit with 10-Year Original Lease; 18-Year History at the Site with Two Long-Term Renewals
  • Huge Traffic Counts – 49,400 VPD at Adjacent Signalized Intersection
  • Dense Infill Middle-Income Location: 8,505 Residents within 1-Mi & 73,045 Residents within 3-Mi; AHHI of $63K within 1-Mi
  • Investment-Grade Tenant Carrying S&P "BBB-" Credit Rating
  • Strong Intrinsic Value in the Land & Building Given Central Location, Infill Demographics, Huge Traffic Counts, and Easily Retrofit Rectangular Box
  • Depew is a Dense, Outer-Ring Suburb of Buffalo Adjacent to Cheektowaga and Just South of the Buffalo-Niagara Airport; 12 Miles from Downtown Buffalo

Investment Overview

Marcus & Millichap is pleased to bring to market Advance Auto Parts in Depew, NY (Buffalo MSA). The lease was recently extended for five years, providing nearly eight years of remaining lease term.

Exclusively Listed By

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