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45 Main St 6,865 SF Retail Building Savannah, TN 38372 $811,034 ($118.14/SF) 7.25% Cap Rate
Investment Highlights
- Advance Auto Parts has been operating out of the location since 2000, and recently extended the lease.
- Lease backed by Advance Auto Parts, Inc., providing added financial security and peace of mind for investors.
- The area supports over 12,500 residents within a 5-mile radius and average household incomes exceeding $60,000, reinforcing retail viability.
- The automotive aftermarket sector remains recession-resistant, driven by an aging vehicle population and continued demand for parts and maintenance.
Executive Summary
AiCRE Partners, as exclusive investment sales advisor to the seller, is pleased to present the opportunity to acquire the fee simple interest in Advance Auto Parts, a nationally recognized automotive parts retailer located at 45 Main Street in Savannah, Tennessee.
This 7,000-square-foot freestanding retail property was built in 2002 and sits on a 1.26-acre parcel in the heart of Savannah’s primary commercial corridor. The property is leased to Advance Auto Parts, Inc., a publicly traded company (NYSE: AAP) and one of the largest automotive aftermarket parts providers in North America. With over 4,600 locations and nearly a century of industry presence, Advance Auto Parts is a creditworthy tenant with strong brand recognition and operational performance. Advance Auto Parts has operated at this location since 2000, demonstrating a long-term commitment to the site. The lease offers 10 years of remaining term through December 31, 2035, with a 6% rent increase in 2031 and two (2) additional 5-year renewal options featuring rental escalations of 28.45% and 4.63%, respectively. The NN lease structure requires the landlord to maintain only the roof, structure, parking lot, and any HVAC repairs over $500.
Strategically positioned on Main Street, the property benefits from strong visibility and steady traffic in a regionally significant trade area. Savannah serves as the county seat of Hardin County and draws consistent consumer activity from nearby regional attractions such as Pickwick Lake and Shiloh National Military Park. Demographics within a 5-mile radius
include a population of over 12,500 residents and an average household income of approximately $61,000.
This offering represents an attractive opportunity to acquire a stable, income-generating asset backed by a nationally recognized tenant, with long-term cash flow and limited landlord obligations in a growing Tennessee market.
This 7,000-square-foot freestanding retail property was built in 2002 and sits on a 1.26-acre parcel in the heart of Savannah’s primary commercial corridor. The property is leased to Advance Auto Parts, Inc., a publicly traded company (NYSE: AAP) and one of the largest automotive aftermarket parts providers in North America. With over 4,600 locations and nearly a century of industry presence, Advance Auto Parts is a creditworthy tenant with strong brand recognition and operational performance. Advance Auto Parts has operated at this location since 2000, demonstrating a long-term commitment to the site. The lease offers 10 years of remaining term through December 31, 2035, with a 6% rent increase in 2031 and two (2) additional 5-year renewal options featuring rental escalations of 28.45% and 4.63%, respectively. The NN lease structure requires the landlord to maintain only the roof, structure, parking lot, and any HVAC repairs over $500.
Strategically positioned on Main Street, the property benefits from strong visibility and steady traffic in a regionally significant trade area. Savannah serves as the county seat of Hardin County and draws consistent consumer activity from nearby regional attractions such as Pickwick Lake and Shiloh National Military Park. Demographics within a 5-mile radius
include a population of over 12,500 residents and an average household income of approximately $61,000.
This offering represents an attractive opportunity to acquire a stable, income-generating asset backed by a nationally recognized tenant, with long-term cash flow and limited landlord obligations in a growing Tennessee market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,865 SF
Building Class
B
Year Built
2002
Price
$811,034
Price Per SF
$118.14
Cap Rate
7.25%
NOI
$58,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.26 AC
Zoning
B2 - Commercial
Parking
38 Spaces (2.79 Spaces per 1,000 SF Leased)
Frontage
157’ on Main St
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- May 2021
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 End | ||
|
|
Retailer | - | - | May 2021 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 083A-L-005.00 | Improvements Assessment | $167,320 |
| Land Assessment | $63,360 | Total Assessment | $230,680 |
Property Taxes
Parcel Number
083A-L-005.00
Land Assessment
$63,360
Improvements Assessment
$167,320
Total Assessment
$230,680
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