Cap Rate
6%
Price Per SF
$191
Gross SQFT
6,785
Year Built
1999
Term Remaining
±8.5 YRS
NOI
$77,646
Property Type
Retail
INVESTMENT HIGHLIGHTS
- 1999 build-to-suit construction for Advance Auto Parts
- Advance Auto signed a brand new lease in 2020, proving their long term commitment to the location and market
- Attractive 10% rental increase in 2028
- ±8.50-Years remaining on a NNN lease
- Advance Auto Parts is located across from a Winn-Dixie anchored center, with other national tenant nearby including CVS, 7-Eleven, McDonald’s, Dollar Tree, and many other regional retailers
- Population growth of 16.15% over the next 5-years
- 5-Mile population of 48,636 residents
- Average household income of $80,250 annually
- Traffic counts exceed 26,217 at the intersection of Kings Hwy and Indrio Rd
- Advance Auto Parts is one of the nation’s largest automotive aftermarket parts.
- Advance Stores Company, Incorporated (NYSE: AAP) guarantees the lease and is rated as investment-grade credit (S&P Rated: BBB-)
- Advance Auto Parts is considered an essential business and has been consistent with staying open and paying rents on time throughout COVID-19
Broker of Record
- Kyle Matthews
- License No. CQ1066435 (FL)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203