ADVANCE AUTO PARTS | LURAY, VIRGINIA



INVESTMENT SUMMARY

Purchase Price
$2,194,445

Location
1033 US Hwy 211

Cap Rate
5.92%

Annual Rent
$130,000.00

Building Size
6,840 SF

Land Area
1.00 Acres (43,560 sf)

Ownership
Fee Simple

Lease Type
NNN

Term Remainning
10 Years

LEASE EXPIRATION
12/31/2030

Renewal Options

RENT INCREASES
5% at Options

Parking
30 Spaces

Year Built
2015

APN
41 A 86

Traffic Counts
12,406 VPD
INVESTMENT HIGHLIGHTS
ADVANCE AUTO PARTS CORPORATE LEASE:
- 10 Years Remaining in the Initial 15 Year Lease Term
- Three (3) - Five (5) Year Options
- 5% Increases at Options
- High Quality Construction - Steel Framed with Concrete Block
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:
- Winchester, Virginia | 49 Miles - 1 Hour: 2 Minute Drive
- Charlottesville, Virginia | 61 Miles - 1 Hour: 25 Minute Drive
- Fredericksburg, Virginia | 72 Miles - 1 Hour: 37 Minute Drive
- Washington, D.C. | 93 Miles - 1 Hour: 45 Minute Drive
- Richmond, Virginia | 124 Miles - 2 Hour: 22 Minute Drive
- Baltimore, Maryland | 131 Miles - 2 Hour: 17 Minute Drive
TRADE AREA DEMOGRAPHICS:
- 1-Mile = 794 Residents; $52,948 Average Household Income
- 3-Mile = 5,734 Residents; $55,162 Average Household Income
- 5-Mile = 9,734 Residents; $60,866 Average Household Income
- 7-Mile = 15,992 Residents; $63,263 Average Household Income
TENANT:
- Advance Auto Parts (NYSE: AAP)
- Investment Grade Credit Rating From Standard & Poor's - (BBB)
- 4,811 Stores Located in 49 States as of October 3, 2020
- Ranked #330 on the Fortune 500 List