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Advance Auto Parts | Corp NNN 400 E Mountain Pky 9,765 SF Retail Building Salyersville, KY 41465 $1,262,000 ($129.24/SF) 8.35% Cap Rate
Investment Highlights
- Corporate Guaranteed (NYSE:AAP) | Long Term Occupancy
- Mountain Parkway (9K+ VPD) | Transportation Expansion Project
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- High Vehicle Ownership Rates | Transportation Corridor
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Salyersville, KY. The tenant, Advance Auto Parts, Inc., has occupied the site for over 13-years and has 3 (5-year) options to extend. The lease features a 4.6% rental increase in the first option and 10% in the second and third options, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,765 SF
Building Class
C
Year Built
2012
Price
$1,262,000
Price Per SF
$129.24
Cap Rate
8.35%
NOI
$105,364
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.87 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
30 Spaces (3.07 Spaces per 1,000 SF Leased)
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Advance Auto Parts began in 1932 when Arthur Taubman acquired Advance Stores in Virginia, and the business later developed into a publicly traded automotive aftermarket retailer. The company serves professional installers and do-it-yourself customers through retail stores, online shopping, and customer support services, with offerings that include replacement parts, accessories, batteries, and maintenance items. Advance Auto Parts also operates the Carquest brand and maintains a broad North American presence that includes the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 049-00-00-037.03 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,150,000 |
Property Taxes
Parcel Number
049-00-00-037.03
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,150,000
Contacts
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Michael Carter -
Frank Rogers -
Matthew Mousavi -
Patrick Luther -
SRS Real Estate Partners
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