ADVANCE AUTO PARTS | CLOVIS, NEW MEXICO

Purchase Price
$1,155,555
Location
2109 N Prince Street
Cap Rate
6.75%
Annual Rent
$78,000.00
Building Size
7,000 SF
Land Area
0.80 Acres (34,848 sf)
Ownership
Fee Simple
Lease Type
NNN
Term Remainning
10 Years
LEASE EXPIRATION
04/30/2030
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
10% at Options
Parking
33 Spaces
Year Built
2005
APN
1-212-012-014-021-00
Traffic Counts
18,500 VPD

INVESTMENT HIGHLIGHTS

 

ADVANCE AUTO PARTS CORPORATE GUARANTEED LEASE:

  • Approximately 10 Years Remaining in the Current Term
  • Tenant Recently Extended Their Lease for an Additional 10 Years, Reflecting Their Strong Commitment to this Location
  • Three (3) - Five (5) Year Options at 10% Rent Increases
  • High Quality Construction - Steel Framed with Concrete Block
 

NNN LEASE | MINIMAL LANDLORD RESPONSIBILITIES:

  • Tenant Responsible for Roof and Parking Lot
  • Landlord Responsibilities Limited to HVAC, Slab & Structure
  • Ideal, Management-Free Investment for an Out-of-State, Passive Investor
 

CANNON AIR FORCE BASE:

  • Located 9 Miles from the Subject Property
  • Home of the 27th Special Operations Wing
  • The Base Itself Sits on 3,789 Acres of Land
  • The Melrose Air Force Range Training Area, Located Approximately 25 Miles West of the Base, is Approximately 70,000 Acres
 

PROXIMITY TO OTHER MAJOR CITIES:

  • Lubbock, Texas | 100 Miles - 1 Hour: 42 Minute Drive
  • Amarillo, Texas | 106 Miles - 1 Hour: 47 Minute Drive
  • Odessa, Texas | 203 Miles - 3 Hour: 25 Minute Drive
  • Albuquerque, New Mexico | 222 Miles - 3 Hour: 27 Minute Drive
 

TENANT:

  • Advance Auto Parts (NYSE: AAP)
  • Strong Investment Grade Credit (BBB) by Standard & Poor's
  • 4,843 Stores Located in 49 States as of April 18, 2020
  • Ranked #326 on the Fortune 500 List

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