Auto Parts

Advance Auto Parts

Listing Price: $1,338,000

Cap Rate
6.85%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
10.30
Gross SF
6,779
Guarantor
Corporate Guarantee
Rentable SF
6,779
Price/Gross SF
$197.37
Lease Type
Double Net
Rent Per Square Feet
$13.52

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS - Located along the main thoroughfare in Etowah running through the center of town - At the intersection of Tennessee Ave. & David W Lillard Memorial Hwy, which connects to Athens - Frontage along N Tennessee Ave. with ±12,700 VPD - Flat topography with enhanced visibility in all directions - Two (2) points of ingress/egress, including access to a signalized intersection via inter-parcel access - Large 2.11 acre parcel PASSIVE LEASE STRUC TURE - Modified NNN lease - Very passive ownership with NO day-to-day LL responsibilities - Corporately guaranteed lease › Investment-grade credit rating of BBB-/Stable (Standard & Poor's) - Two (2), 5-year renewal options with 6% rent escalations in each option - Recently extended the lease for 9 years & 9 months which is a clear indication of the tenant's success & happiness at this location - Tenant has successfully operated at this location since 2005 INDUSTRY-LEADING TENANT - 2nd largest auto parts chain in the US - Strong corporate financials › 2019 Revenues of $9.709 B (3 straight years of growth) › 2019 Net Worth of $3.549 B (21.7% increase over 2016) › 2019 increase in net sales (1.3%), comparable store sales (1.1%), operating income (12.1%) & operating cash flow (6.9%) - Established a partnership with Walmart in 2019 to increase their omni-channel platform and overall operational efficiencies - Recession-resistant tenant › Average age of vehicles on the road in America is 11.8 years, which is an all-time high & increased an average of 4% over the last 5 years (USA Today, 2019)

Investment Highlights

  • Modified NNN lease with very passive ownership with NO day-to-day LL responsibilities
  • Corporately guaranteed lease (investment-grade credit rating of BBB-/Stable (Standard & Poor's))
  • Two (2), 5-year renewal options with 6% rent escalations in each option
  • Recently extended the lease for 9 years & 9 months which is a clear indication of the tenant's success & happiness at this location
  • Tenant has successfully operated at this location since 2005
  • Frontage along N Tennessee Ave. with ±12,700 VPD

Exclusively Listed By

  • Sonny Molloy

    Senior Vice President Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

  • Jared M. Kaye

    First Vice President Investments

    Email Jared

    License(s): GA: 348701, FL: SL3224428

    Atlanta

Listing Price: $1,338,000

Cap Rate
6.85%
Tenant Name
Advance Auto Parts
Years Remaining On Lease
10.30
Gross SF
6,779
Guarantor
Corporate Guarantee
Rentable SF
6,779
Price/Gross SF
$197.37
Lease Type
Double Net
Rent Per Square Feet
$13.52

Investment Highlights

  • Modified NNN lease with very passive ownership with NO day-to-day LL responsibilities
  • Corporately guaranteed lease (investment-grade credit rating of BBB-/Stable (Standard & Poor's))
  • Two (2), 5-year renewal options with 6% rent escalations in each option
  • Recently extended the lease for 9 years & 9 months which is a clear indication of the tenant's success & happiness at this location
  • Tenant has successfully operated at this location since 2005
  • Frontage along N Tennessee Ave. with ±12,700 VPD

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS - Located along the main thoroughfare in Etowah running through the center of town - At the intersection of Tennessee Ave. & David W Lillard Memorial Hwy, which connects to Athens - Frontage along N Tennessee Ave. with ±12,700 VPD - Flat topography with enhanced visibility in all directions - Two (2) points of ingress/egress, including access to a signalized intersection via inter-parcel access - Large 2.11 acre parcel PASSIVE LEASE STRUC TURE - Modified NNN lease - Very passive ownership with NO day-to-day LL responsibilities - Corporately guaranteed lease › Investment-grade credit rating of BBB-/Stable (Standard & Poor's) - Two (2), 5-year renewal options with 6% rent escalations in each option - Recently extended the lease for 9 years & 9 months which is a clear indication of the tenant's success & happiness at this location - Tenant has successfully operated at this location since 2005 INDUSTRY-LEADING TENANT - 2nd largest auto parts chain in the US - Strong corporate financials › 2019 Revenues of $9.709 B (3 straight years of growth) › 2019 Net Worth of $3.549 B (21.7% increase over 2016) › 2019 increase in net sales (1.3%), comparable store sales (1.1%), operating income (12.1%) & operating cash flow (6.9%) - Established a partnership with Walmart in 2019 to increase their omni-channel platform and overall operational efficiencies - Recession-resistant tenant › Average age of vehicles on the road in America is 11.8 years, which is an all-time high & increased an average of 4% over the last 5 years (USA Today, 2019)

Exclusively Listed By

  • Sonny Molloy

    Senior Vice President Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

  • Jared M. Kaye

    First Vice President Investments

    Email Jared

    License(s): GA: 348701, FL: SL3224428

    Atlanta

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