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Advance Auto Parts | 10+yrs Corp Abs NNN 629 Grants Ferry Rd 6,838 SF Retail Building Flowood, MS 39232 $979,000 ($143.17/SF) 6.75% Cap Rate

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Investment Highlights

10+ Years Remaining | Options To Extend | Scheduled Rental Increases
Grants Ferry Rd (11,000 VPD) | Excellent Visibility | Significant Street Frontage
Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area

Rare Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
Across from 75,000+ SF Shopping Center | Retail Corridor |Strong National/Credit Tenant Presence | Pinelands Development

Executive Summary

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Advance Auto Parts investment property located in Flowood, Mississippi. The tenant, Discount Auto Parts, LLC, has more than 10 years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 3.5% increase in September of 2033, and 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

6,838 SF

Building Class

Year Built

1998

Price

$979,000

Price Per SF

$143.17

Cap Rate

6.75%

NOI

$66,071

Tenancy

Single

Building Height

1 Story

Building FAR

0.14

Lot Size

1.16 AC

Zoning

C-3 - General Commercial District

Parking

20 Spaces (2.92 Spaces per 1,000 SF Leased)

Frontage

79’ on Grants Ferry Rd

Dedicated Turn Lane

Signage

Retailer
99,999 SF
-
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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.