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Advance Auto Parts 505 N Western Ave 8,050 SF Retail Building Peoria, IL 61604 $848,660 ($105.42/SF) 7% Cap Rate



Investment Highlights
- Advance Auto signed a brand new 15-year lease in 2020, confirming their commitment to the location and market
- Attractive 10% rent increase in 2028 (cap rate increase to 7.70%, assuming a purchase at list price)
- ±17,400 Vehicles daily in front of the store along Western Avenue
- RARE Absolute NNN lease for Advance Auto Parts
- ±7.50-Years remaining on the base term of an initial 15-year lease
- 5-Mile population of ±118,546 residents
Executive Summary
Matthew M. Fitzgerald
License # 478027547 (IL), 471021676 (IL)
Matthews Real Estate Investment Services, Inc
600 W Fulton, Ste 100 Chicago, IL 60661
(866) 889-0550
Property Facts
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Advance Auto Parts, Inc. is a publicly traded automotive aftermarket parts retailer (NYSE: AAP) founded on April 29, 1932 by Arthur Taubman. Headquartered in Raleigh, North Carolina, the company operates over 4,000 stores across the United States, Puerto Rico, and Canada, along with Carquest and Worldpac branches. Advance Auto Parts serves both do-it-yourself (DIY) customers and professional installers, offering a wide range of products including batteries, brakes, engine components, and maintenance supplies. The company also provides in-store services such as battery testing, installation, and recycling. With a workforce of approximately 62,800 employees, Advance Auto Parts emphasizes convenience through its e-commerce platform and same-day delivery options. The firm has grown through strategic acquisitions, including Carquest and Worldpac, and continues to expand its footprint while focusing on operational efficiency and customer service.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Retailer | - | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $168,470 | |
| Land Assessment | $47,290 | Total Assessment | $215,760 |
Property Taxes
Presented by
Advance Auto Parts | 505 N Western Ave
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