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Advance Auto Parts (Hub Store), Gulfport, MS

Advance Auto Parts (Hub Store)

Gulfport, MS

Price $3,648,000
Cap Rate 5.25%
NOI $187,180
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance and Maintenance, Excluding Structure
Rental Increases 7.5% Rental Increases Every Five Years During Options
Year Built 2021
Building Size 11,000 SF
Lot Size .94 Acres (40,946 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 10-YEAR CORPORATE GUARANTEED NET LEASE WITH SCHEDULED RENTAL INCREASES
» 10-year, corporate guaranteed lease to investment grade tenant rated “BBB-” by S&P and “Baa2” by Moody’s
» 7.5% rental increases in option periods, providing an excellent hedge against inflation
» Advance Auto Parts operates over 6,500 stores in the U.S., Puerto Rico, the Virgin Islands, and Canada
» Advance Auto Parts has grown from 2,872 stores in 2005 to 6,500+ locations in 2021
» $10.1 billion generated in 2020 revenue

RARE STRATEGIC SUPER HUB STORE LOCATION
» Location serves as a retail store that also distributes and stocks inventory for regional Advance Auto Parts locations
» Larger inventory with wider variety, featuring 15,000 additional stock-keeping units not offered in other stores
» One of only 420+ hub stores – strategic location

HIGH-VISIBILITY AND GROWING LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» High-traffic location along U.S. Route 49/25th Avenue, which experiences a traffic count of 42,000 vehicles per day
» Excellent location next to a major commuter corridor, with close proximity to single family developments
» Population of 63,614 within five miles of the property, providing a large customer base for the site
» Location surrounded by a strong mix of local and national retailers, including Walmart Supercenter, AT&T, Lowes, National Auto Sales Circle K, O’Reilly Auto Parts, Burger King, Popeyes and many more
» Beneficial proximity to major Gulfport tourist attractions, including Mississippi Aquarium and Island View Casino Resort
» Projected nine percent average annual household income increase within five miles of the site in the next five years



Property Description

The property features a high-traffic location near U.S. Route 49/25th Avenue, which experiences a traffic count of 42,000 vehicles per day. The site is located in a greatly populated area, with a population of 63,614 within five miles of the location, providing an extremely large customer base for the site. The location benefits from its setting in a growing and affluent area, with a projected nine percent average annual household income increase within five miles of the site in the next five years. The property also features an excellent location in a major commuter corridor, with close proximity to several high-density single-family developments.

Visibility is increased by the property’s location near large employers, retailers, and community hubs. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, AT&T, Lowes, National Auto Sales Circle K, O’Reilly Auto Parts, Burger King, Popeyes, and many more. The site is also located near major Gulfport tourist attractions including Mississippi Aquarium and Island View Casino Resort.

Contact Us About This Property

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