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Auto Parts

Advance Auto Parts (NNN Lease)

1520 W Tyler Ave, Harlingen, TX 78550

Listing Price: $1,512,000

Cap Rate
6.50%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
2.8
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$216.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.04

Investment Overview

Marcus & Millichap is proud to offer for sale fee simple ownership of the Advance Auto Parts located along Tyler Avenue in Harlingen, Texas. The offering includes a favorable corporate guaranteed NNN lease through July of 2024. The site has successfully operated at this location for 17+ years and is currently operating within their first 5-year option period which was exercised in 2019. Located with visibility and frontage off Tyler Ave and Harrison Ave, the property benefits from two easy points of access.

Investment Highlights

  • Corporate Guaranteed NNN Lease Extended Through July 31, 2024
  • Passive Lease Structure - Landlord Only Responsible for Structure, Slab and Foundation (Tenant Responsible for Roof, Parking and HVAC)
  • 17+ Years Historical Occupancy - Recently Exercised 1st 5-Year Option

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Auto Parts

Advance Auto Parts (NNN Lease)

Listing Price: $1,512,000

Cap Rate
6.50%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
2.8
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$216.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.04

Investment Highlights

  • Corporate Guaranteed NNN Lease Extended Through July 31, 2024
  • Passive Lease Structure - Landlord Only Responsible for Structure, Slab and Foundation (Tenant Responsible for Roof, Parking and HVAC)
  • 17+ Years Historical Occupancy - Recently Exercised 1st 5-Year Option

Investment Overview

Marcus & Millichap is proud to offer for sale fee simple ownership of the Advance Auto Parts located along Tyler Avenue in Harlingen, Texas. The offering includes a favorable corporate guaranteed NNN lease through July of 2024. The site has successfully operated at this location for 17+ years and is currently operating within their first 5-year option period which was exercised in 2019. Located with visibility and frontage off Tyler Ave and Harrison Ave, the property benefits from two easy points of access.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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