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NAPA Auto Parts | Altoona, PA 213 Union Ave 16,983 SF 100% Leased Retail Building Altoona, PA 16602 $1,604,053 ($94.45/SF) 7.50% Cap Rate
Investment Highlights
- Corporately guaranteed NAPA Auto Parts backed by investment-grade Genuine Parts Company (NYSE: GPC).
- Prime location off I-99 in Altoona’s dominant retail corridor surrounded by major national retailers.
- Strong visibility and traffic counts with 75,000+ residents nearby and solid local incomes.
- Over 25 years of operating history with multiple lease extensions and a 2018 expansion.
- Passive NN lease through June 2031 with minimal landlord responsibilities and one renewal option.
- Close to major economic drivers including Penn State Altoona, VA Medical Center, and within 40 miles of Penn State’s main campus.
Executive Summary
CBRE is pleased to exclusively present for sale this 9,100-square-foot NAPA Auto Parts property located on 1.06 acres along E. Plank Road in Altoona, Pennsylvania. The offering represents an attractive investment opportunity backed by a corporately guaranteed lease from Genuine Parts Company (NYSE: GPC), an investment-grade tenant (S&P: BBB) and one of the world’s largest distributors of automotive replacement parts. The NN lease structure limits landlord responsibilities to roof and structure only, providing investors with a passive ownership profile and reliable income stream.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
16,983 SF
Building Class
B
Year Built
2000
Price
$1,604,053
Price Per SF
$94.45
Cap Rate
7.50%
NOI
$120,304
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
1.06 AC
Parking
12 Spaces (0.71 Spaces per 1,000 SF Leased)
Frontage
120’ on Union Ave
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Double Net
- Jun 2031
NAPA Auto Parts began in 1925 as the National Automotive Parts Association and has grown into an automotive aftermarket brand focused on replacement parts, accessories, and service items. The company serves professional technicians, do-it-yourself customers, and everyday drivers through a network of auto parts stores and auto care centers across the United States. Current offerings include vehicle parts, aftermarket accessories, oil and chemicals, tools and equipment, paint and body products, and car care products. The business continues to operate as a widely recognized automotive parts source with a broad market presence in North America.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Double Net | Jun 2031 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-00039724 | Improvements Assessment | $823,000 |
| Land Assessment | $131,000 | Total Assessment | $954,000 |
Property Taxes
Parcel Number
14-00039724
Land Assessment
$131,000
Improvements Assessment
$823,000
Total Assessment
$954,000
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