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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

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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

Broker of Record
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

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,050 SF
Building Class
B
Year Built
1995
Price
$848,660
Price Per SF
$105.42
Cap Rate
7%
NOI
$59,406
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.80 AC
Zoning
C
Parking
30 Spaces (3.73 Spaces per 1,000 SF Leased)
Frontage
114’ on N Western Ave

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 - - -
Walk Score®
Very Walkable (71)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 18-07-232-009
  • 18-07-232-008
Land Assessment
$47,290
Improvements Assessment
$168,470
Total Assessment
$215,760
  • Listing ID: 39488441

  • Date on Market: 2/19/2026

  • Last Updated:

  • Address: 505 N Western Ave, Peoria, IL 61604

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