See below available list of NNN Advance Auto properties For Sale
Advance Auto Parts With 4+ Years Remaining on Current Term – Recently Extended Lease. NNN Lease – Landlord Responsible for Structure Only. Affluent Area – Average Household Income Within a 1 Mile Radius Exceeds $125K+.
New $16,000 HVAC Unit and $3,800 in Parking Lot Repairs in 2019. Historical Occupancy Since 1998. Corporate Guarantee Rated BBB – by Standard & Poor’s. Located on Primary Retail Corridor with 30,000 Vehicles Per Day.
Corporate Guaranteed NN Lease through January 31,2024 – 10%Rent Increases in Option Periods. Building Includes Additional Storage, 4 Rollup Service Doors on East End of Building. Metal Roof, Metal Structure Ideal for Withstanding Extreme Winter Conditions.
Ideal, Management-Free Investment for an Out-of-State, Passive Investor. Three (3) – Five (5) Year Options. 5% Increases at Options. High Quality Construction – Steel Framed with Concrete Block. 9,734 Residents live in 5-mile radius.
This is an overview for investors interested in NNN Advanced Auto Properties. For more information please fill out a form and schedule a time to speak with us.
With lease agreements varying from five to fifteen years, the most employed general Advance Auto Parts structuring tends to be the fifteen year NN term. While the difference between NN and NNN terms are usually covered by rental price increases, you will find landlord responsibilities are often non-existent on sites leased strictly by NNN terms. Typically, landlords are to maintain the structure for the life of the lease. With NN structuring, rental increase occurs during year eleven, while NNN is based on flat rental fee over life of the lease.
NNN Advance Auto Parts is a highly desirable in the eyes of investors, trading typically in the range of 1 to 2 million dollars. Although unusual, in a vacancy situation such lots have a broad range of reusability and can be easily repurposed. With a common 7000 square foot retail store size, Advance Auto Parts finds lot size between 3/4 and 1 1/4 acres to be preferable.
Though the most popular lease type is a NNN Advanced Auto owning a NN is also a great option as it allows for little landlord responsibility which doesn’t require a third party property manager. For other related Auto Repair tenants, we urge you to consider NNN O’Reilly Auto Parts and NNN AutoZone Properties
• Lots may be repurposed
• Leases are corporate backed
• Flat renter’s fees with variable leasing structure
• Roofing / structure landlord’s responsibility under NN terms
As a leading after-market provider of automotive parts in North America, Advance Auto Parts is based out of Roanoke, VA and began operations in 1929. Serving the commercial industry, independent operators, and professional DITM (Do It for Me) as well as DIY (Do It Yourself) customers, they continue increasing retail store locations while expanding operational strategies for new growth.
With 4102 stores, the majority of them consist of purely free-standing structures that range from 6000 to 8500 sq. ft., with an average building size of 7500 sq. ft. In fact, Advance Auto is actually comprised of Advance Auto Parts, Worldpac, and Carquest. Given the variety of branding, these retail locations have grown rapidly over the past 10 years, from 2872 locations in 2005 to 5135 inside the U.S.A. since 2015.
Advance Auto Parts offer a broad range of items in the automotive aftermarket parts industry, fulfilling the needs of domestic and imported vehicles for their customers. Future plans include the initiative to introduce new retail stores in heavily-populated locations as well as smaller rural areas to serve communities.