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Auto Parts

Advance Auto Parts

27829 US-27, Leesburg (Orlando), FL 34748

Listing Price: $2,191,000

Cap Rate
5.75%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
9.2
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$313.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.00

Investment Overview

Advance Auto Parts (NYSE: AAP), headquartered in Raleigh, North Carolina, AAP is the largest automotive aftermarket parts provider in North America, serves both the professional installer and do-it yourself customers. As of July 13, 2019, Advance operated 4,912 company-operated stores, 150 Worldpac branches, and serves approximately 1,250 independently owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. Advance employs approximately 74,000 Team Members. Leesburg is a city in Florida’s Lake County with a population of over 23,000 residents. Known as the “Lakefront City,” Leesburg is a central hub for commerce in Lake County, attracting 50,000 employees each workday. Leesburg is located in central Florida, between Lake Harris and Lake Griffin, at the head of the Ocklawaha River system. The city is part of the Orlando metro, situated approximately 45 miles northwest of Orlando. The Orlando Metropolitan Statistical Area is the third-largest metropolitan area in Florida with over 2.6 million residents. The booming tourism industry has equipped Orlando with strong, reliable, and efficient infrastructure and state-of-the-art facilities. Greater Orlando has a $13.4 billion technology industry with over 2,000 technology companies and is home to the seventh-largest research park in the country.

Investment Highlights

  • Over Nine Years Remaining on Corporate Lease
  • Tenant Exercised First Option Early Extending to a Fresh 10 Year Lease
  • 126,473 Residents Within a 10-Mile Radius - Orlando MSA
  • High Growth Trade Area - Households and Population Projected to Increase 12 - 14 Percent Within a 10-Mile Radius by 2025
  • Highly Visible and Easily Accessible Along US Highway 27 (Over 28,000 Cars per Day), a Major Thoroughfare in Leesburg
  • Adjacent to Several National Retailers - Winn-Dixie, Publix Super Market, Ace Hardware, McDonald's, Burger King, etc.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $2,191,000

Cap Rate
5.75%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
9.2
Gross SF
7,000
Guarantor
Corporate Guarantee
Rentable SF
7,000
Price/Gross SF
$313.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.00

Investment Highlights

  • Over Nine Years Remaining on Corporate Lease
  • Tenant Exercised First Option Early Extending to a Fresh 10 Year Lease
  • 126,473 Residents Within a 10-Mile Radius - Orlando MSA
  • High Growth Trade Area - Households and Population Projected to Increase 12 - 14 Percent Within a 10-Mile Radius by 2025
  • Highly Visible and Easily Accessible Along US Highway 27 (Over 28,000 Cars per Day), a Major Thoroughfare in Leesburg
  • Adjacent to Several National Retailers - Winn-Dixie, Publix Super Market, Ace Hardware, McDonald's, Burger King, etc.

Investment Overview

Advance Auto Parts (NYSE: AAP), headquartered in Raleigh, North Carolina, AAP is the largest automotive aftermarket parts provider in North America, serves both the professional installer and do-it yourself customers. As of July 13, 2019, Advance operated 4,912 company-operated stores, 150 Worldpac branches, and serves approximately 1,250 independently owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. Advance employs approximately 74,000 Team Members. Leesburg is a city in Florida’s Lake County with a population of over 23,000 residents. Known as the “Lakefront City,” Leesburg is a central hub for commerce in Lake County, attracting 50,000 employees each workday. Leesburg is located in central Florida, between Lake Harris and Lake Griffin, at the head of the Ocklawaha River system. The city is part of the Orlando metro, situated approximately 45 miles northwest of Orlando. The Orlando Metropolitan Statistical Area is the third-largest metropolitan area in Florida with over 2.6 million residents. The booming tourism industry has equipped Orlando with strong, reliable, and efficient infrastructure and state-of-the-art facilities. Greater Orlando has a $13.4 billion technology industry with over 2,000 technology companies and is home to the seventh-largest research park in the country.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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