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ADVANCE AUTO PARTS, Marianna, FL

ADVANCE AUTO PARTS

Price $2,204,000
Cap Rate 6.00%
NOI $132,257
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof
Rental Increases 7.5% Rental Increases Every Five Years During Options
Year Built 2020
Building Size 8,000 SF
Lot Size 1 Acre (43,560 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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
» Advance Auto Parts has been designated a critical infrastructure sector, ensuring the location will remain open
» New 2020 construction built to latest Advance Auto Parts prototype
» 7.5% rental increases in option periods, providing an excellent hedge against inflation

IRREPLACEABLE INFILL LOCATION IN DOWNTOWN MARIANNA
» Located at the intersection of Bertram Street and Lafayette Street, which experiences a high traffic count of 24,500 vehicles per day
» Beneficial proximity to Interstate 10, the southernmost cross-country highway and fourth-longest Interstate in the U.S. (23,500 AADT)
» Within five miles of Golson Elementary School (773 students), Marianna High School (765 students), Marianna Middle School (628 students), and Riverside Elementary School (609 students)

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Two miles from Chipola College (2,211 students, 70 employees), increasing foot traffic to the site
» Across the street from Winn-Dixie and surrounded by numerous well-established local and national retailers, including Subway, Domino’s Pizza, KFC, Hardee’s, Taco Bell, and many more
» Less than five miles from the largest employer in Jackson County, Family Dollar Distribution Center (589 employees)
» Five miles from Florida Caverns State Park (142,644 visitors, $12.8 million in direct economic impact), drawing significant tourist traffic to the site

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Advance Auto Parts operates over 6,500 stores in the United States, Puerto Rico, the Virgin Islands, and Canada
» Florida has no state income tax, estate tax, or inheritance tax
» Advance Auto Parts has grown from 2,872 stores in 2005 to 6,500+ locations in 2019
» $9.6 billion generated in 2018 revenue



Property Description

The property is located at the corner of Bertram Street and Lafayette Street, which experiences a high traffic count of 24,500 vehicles per day. As Marianna’s primary east-west thoroughfare traversing the entire city, Lafayette Street is a primary retail, commercial, and transportation corridor. The site also maintains a beneficial proximity to Interstate 10, the southernmost cross-country highway and fourth-longest Interstate in the U.S. Traffic to the site is increased by it’s location in the heart of the Jackson County School District, as the property resides within five miles of Golson Elementary School (773 students), Marianna High School (765 students), Marianna Middle School (628 students), and Riverside Elementary School (609 students). The site has also been designated as a critical infrastructure sector, ensuring the location will remain open.

Visibility is increased by the property’s central location near large employers, retailers, and community hubs. Significant traffic is driven to the location by nearby Chipola College, which has an enrollment of 2,211 students and 70 employees. The location is across the street from Winn-Dixie and surrounded by numerous well-established local and national retailers, including Subway, Domino’s Pizza, KFC, Hardee’s, Taco Bell, and many more. The site is less than five miles from the largest employer in Jackson County, Family Dollar Distribution Center (589 employees), and five miles from Florida Caverns State Park, which attracted 142,644 visitors and generated $12.8 million in direct economic impact.

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