ADVANCE AUTO PARTS HUB STORE | CORPUS CHRISTI, TEXAS

Purchase Price
$2,322,695
Location
3780 Leopard Street
Cap Rate
5.75%
Annual Rent
$133,555.00
Building Size
9,600 SF
Land Area
1.14 Acres (49,658 sf)
Ownership
Fee Simple
Lease Type
NNN
Term Remainning
11 Years
LEASE EXPIRATION
9/30/2031
Renewal Options
Three (3) - Five (5) Year
RENT INCREASES
10% at Option 1, 8% at Options 2 & 3
Parking
42 Spaces
Year Built
2016
APN
200067184
Traffic Counts
9,589 VPD

INVESTMENT HIGHLIGHTS

 

ADVANCE AUTO PARTS CORPORATE LEASE:

  • 11 Years Remaining in the Initial 15 Year Lease Term
  • Three (3) - Five (5) Year Options
  • 10% Increase at Option 1, 8% Increases at Options 2 & 3
  • High Quality Construction - Steel Framed with Concrete Block
 

RARE HUB STORE LOCATION:

  • 9,600 SF - 37% Larger Footprint than Typical Advance Auto Parts Store (7,000 SF)
  • Subject Property Serves as a Hub Store for Other Advance Auto Parts Locations
  • Hub Stores Carry Larger Inventory with Wider a Variety, Featuring an Additional 15,000 Stock Keeping Units Not Offered in Other Stores
  • Integral Part of the Supply Chain - Hub Stores Distribute and Stock Inventory for Other Locations
  • One of Only 421 Hub Stores - Strategic Location and Mission Critical for Advance Auto Parts
 

NNN LEASE | MINIMAL LANDLORD RESPONSIBILITIES:

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

PROXIMITY TO OTHER MAJOR CITIES:

  • San Antonio, Texas | 144 Miles - 2 Hour: 1 Minute Drive
  • Austin, Texas | 217 Miles - 3 Hour: 20 Minute Drive
  • Houston, Texas | 211 Miles - 3 Hour: 16 Minute Drive
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile = 9,117 Residents; $53,718 Average Household Income
  • 3-Mile = 59,200 Residents; $45,761 Average Household Income
  • 5-Mile = 109,621 Residents; $51,998Average Household Income
 

TENANT:

  • Advance Auto Parts (NYSE: AAP)
  • Features Strong Investment Grade Credit (BBB) by Standard & Poor's
  • 4,819 Stores Located in 49 States as of July 11, 2020
  • Ranked #326 on the Fortune 500 List

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