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Advance Auto Parts 603 W Broad St 6,000 SF Retail Building Elizabethtown, NC 28337 $795,000 ($132.50/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- LONG OPERATING HISTORY WITH RECENT EXTENSION
- NEARBY MARKET DRIVERS
- LOW RENT WITH EXTREMELY HEALTHY RENT-TO-SALES
EXECUTIVE SUMMARY
- 10 Year NN Lease
- One (1) - five year option with a rent increase of 30.8%
- Minimal LL responsibilities
- Tenant is paying below market rent which allows for a 4.87% rent-to-sales ratio
CORPORATE GUARANTY FROM STRONG CREDIT TENANT
- Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap. of $3.9B and annual revenue of $11.28B
- Credit Rating: S&P: BBB
POSITIONED IN A DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 784K SF of retail space
- Nearby national retailers include: Walmart, Tractor Supply Co., Shoe Show, Rent-A-Center, Food Lion, and more
SYNERGIES WILL LOCAL AUTO PARTS STORES - STRONG PLACER.AI REPORT
- This Advance Auto Parts store ranks in the top 71% of all auto parts stores in the state of North Carolina
LONG OPERATING HISTORY WITH RECENT EXTENSION
- Tenant has been operating at this location for over 30 years
- Tenant recently signed a 10 year extension, showing commitment to the site
NEARBY MARKET DRIVERS
- Located under 1 mile from the site is the Bladen County Hospital with over 48 beds and more than 50 employees
- Just 1.3 miles northwest of the site is the Specialty Product Technology factory which employs more than 250 people
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signage
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 6,000 SF
- -
- Double Net
- Dec 2031
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 TYPE | LEASE END | |
|
|
Retailer | 6,000 SF | - | Double Net | Dec 2031 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 131219605603 | Improvements Assessment | $281,650 |
| Land Assessment | $64,310 | Total Assessment | $345,960 |
PROPERTY TAXES
Presented by
Advance Auto Parts | 603 W Broad St
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