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Advance Auto Parts, Alice, TX

Advance Auto Parts

TX, United States

Price $2,181,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases in First Option and 8% Increases in Every Subsequent Option
Year Built 2016
Building Size 6,901 sq. ft.
Lot Size 0.49 Acres (21,240 sq. ft.)
Status Dp;f
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

HIGH-QUALITY, INVESTMENT-GRADE SINGLE TENANT
» Corporate guaranteed lease by investment-grade Tenant rated “BBB-” by Standard & Poor’s
» Advance Auto Parts operates over 5,200 stores in the United States, Puerto Rico, the Virgin Islands, and Canada

NET LEASE WITH FEE SIMPLE OWNERSHIP
» Tenant is responsible for taxes, insurance, and all maintenance and repair, including the roof, parking lot, and HVAC (landlord is responsible for structure)
» No landlord property management, providing “hands off” ownership for passive investors

HIGH-TRAFFIC LOCATION IN PRIMARY RETAIL CORRIDOR
» Advance Auto Parts is strategically located in downtown Alice, with 21,000 vehicles per day in front of the property on East Main Street
» Located in Alice’s primary retail corridor
» Surrounded by major retailers, including Walgreens, CVS, H-E-B, Family Dollar, and others

BRAND NEW 2016 CONSTRUCTION
» Building was built in 2016 to tenant’s specifications and features the latest Advance Auto Parts building prototype
» Brand new building, limiting near-term deferred maintenance and capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on the eastern edge of downtown Alice, with excellent access and visibility to 21,000 vehicles per day on East Main Street. East Main Street is Alice’s main retail corridor, with multiple major retailers surrounding the property. Retailers in the immediate area include Family Dollar, Walgreens, CVS, H-E-B, Sears Hometown Store, Sutherlands, and many others.

The property benefits from its prime location in Alice. Four schools are within walking distance of the property and have a combined enrollment of 3,269 students. Additionally, multiple residential neighborhoods surround the property, which will be served by Advance Auto Parts.

Contact Us About This Property

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