Property details

Advance Auto Parts, Northeast Region

Property Description

Located on a hard corner at a signalized intersection on the very busy route across from Applebee's and Kmart-anchored Shopping Center. It is also near Wal-Mart Supercenter, Tractor Supply Company, and McDonald's, among others.

10 Year 5 Month Lease

Property lease dates shown are estimates. Actual dates are subject to verification.

About the Tenant

Advance Auto Parts, Inc. (NYSE:AAP) is based in Roanoke, Virginia, and is the second-largest automotive aftermarket retailer in the United States based on sales and store count. They are a member of the Fortune 500, and the Forbes magazine named them the best-managed company in the retail sector in 2005. As of December 2006, Advance Auto Parts, Inc. operates more than 3,082 stores in 40 continental states, Puerto Rico, and the Virgin Islands. The company sells automotive parts, accessories, batteries, and maintenance items and gives customers access to thousands of parts that are available on a same-day or overnight basis. The company serves both the do-it-yourself and professional installer markets.

As of July 2007, the Company has a net worth in excess of $1.2 billion and a BB+ rating by S&P.

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Highlights

Status:
Available
Price:
$1,515,000
PSF:
$216
Cap Rate:
7.75%
Annual Rent:
$117,332
Rent Increases:
Inquire
 

Property Information

Building Size:
7,000 sq.ft.
Property Type:
Net Lease
Industry Type:
Auto Parts - Repair
Units/Spaces:
1
Land Area:
1.44 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Advance Auto Parts
Lease Type:
NN
Lease Commencement:
7/10/2003
Lease Expiration:
7/10/2014
Lease Term:
11 years
Years Remaining:
5 years
Landlord Responsibilities:
None
Options:
2, 5-Year Renewal Options
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.