x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Advance Auto Parts, Bayamón, PR

Advance Auto Parts

Bayamón, Puerto Rico

Price 4,187,000
Cap Rate 6.75%
NOI $282,565
Lease Term 15 Years with 11 Years Remaining
Lease Type Net with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot
Rental Increases 6% Rental Increases in Option Periods
Year Built 2017
Building Size 8,000 SF
Lot Size 3.07 Acres (133,783 SF)
Status Available
Lead Broker Information 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

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

LONG-TERM CORPORATE GUARANTEED NET LEASE WITH SCHEDULED RENTAL INCREASES
» Long-term corporate guaranteed lease to investment grade tenant rated “BBB-” by S&P and “Baa2” by Moody’s
» 6% rental increases in option periods, providing an excellent hedge against inflation
» Advance Auto Parts operates over 6,500 stores in Puerto Rico, the United States, 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

HIGH-TRAFFIC, AFFLUENT, AND GROWING SAN JUAN SUBMARKET LOCATION
» High-traffic location along Puerto Rico Highway 167, which experiences a traffic count of 121,361 vehicles per day
» Population of 290,648 within five miles of the property, providing an extremely large customer base for the site
» 29,374 households with income of $73,755 or greater within a five-mile radius
» Excellent location in a major commuter corridor, with close-proximity to several high density single-family developments
» $5.6B in purchasing power within a five-mile radius of the property

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Shadow-anchored by Rexville Plaza (131,058 SF, 38 stores), a major Bayamón retail hub
» Irreplaceable infill location surrounded by a strong mix of local and national retailers, including Marshalls, CVS Pharmacy, Target, The Home Depot, PetSmart, Church’s Chicken, Domino’s, Arby’s, Popeyes, and many more
» Gateway to major San Juan tourist attractions and 10 miles from the Atlantic Ocean
» Puerto Rico introduced Act 20, Act 22, and Act 273 in 2012, all offering attractive tax incentives aiming to lure investors, businesses, and high-earning individuals to move to Puerto Rico to do business



Property Description

The property features a high-traffic location along Puerto Rico Highway 167, which experiences a traffic count of 121,361 vehicles per day. The site is located in a densely populated area, with a population of 290,648 within five miles of the location, providing an extremely large customer base for the property. The location benefits from its setting in a growing and affluent area, with 29,374 households maintaining an income of $73,755 or greater within a five-mile radius of the site. The property also features an excellent location in a major commuter corridor, with close proximity to several high-density single-family developments. The location benefits from the growing local economy as well, with $5.6B in purchasing power within a five-mile
radius of the site.

Visibility is increased by the property’s central location near large employers, retailers, and community hubs. The site is shadow-anchored by Rexville Plaza (131,058 SF, 38 stores), a major Bayamón retail hub. The location is also an irreplaceable infill property surrounded by a strong mix of local and national retailers, including Marshalls, CVS Pharmacy, Target, The Home Depot, PetSmart, Church’s Chicken, Domino’s, Arby’s, Popeyes, and many more. Significant traffic is driven to the property by its status as a gateway to major San Juan tourist attractions and its ideal location 10 miles from the Atlantic Ocean. Puerto Rico introduced Act 20, Act 22, and Act 273 in 2012, all offering attractive tax incentives aiming to lure investors, businesses, and high-earning individuals to move to Puerto Rico to do business. The fixed corporate income tax rate and individual tax rates now allow for significantly lower prices than in the mainland United States.

Contact Us About This Property

Vince & Ryan & Mike & Scott Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link