ADVANCE AUTO PARTS | LURAY, VIRGINIA

Purchase Price
$2,222,222
Location
1033 US Hwy 211
Cap Rate
5.85%
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
Three (3) - Five (5) Year
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

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