Cap Rate
6%
Price Per SF
$264
Gross SQFT
6,826
Year Built
1999
Term Remaining
±8.5 YRS
NOI
$108,299
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 the base term of the lease
- Population growth of 9.97% over the next 5-years
- 5-Mile population of 52,782 residents.
- Average household income of $90,539 annually
- Traffic counts exceed ±16,200 vehicles daily
- Titusville is a short 5-minute drive from the famous John F. Kennedy Space Center and Port Canaveral
- Titusville is located along the Eastern coast of Florida and is approximately 30 minutes from Orlando
- 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