ADVANCE AUTO PARTS | NEDERLAND, TEXAS

Purchase Price
$940,000
Location
1301 Nederland Avenue
Cap Rate
7.75%
Annual Rent
$72,800.04
Building Size
7,055 SF
Land Area
0.94 Acres (40,946 sf)
Ownership
Fee Simple
Lease Type
NN+
Term Remainning
1.5 Years
LEASE EXPIRATION
12/31/2026
Renewal Options
Two (2) - Five (5) Year
RENT INCREASES
4% at Options
Parking
53 Spaces
Year Built
2001
APN
042750-000-000100-00000-8
Traffic Counts
12,024 VPD

INVESTMENT HIGHLIGHTS

 

ADVANCE AUTO PARTS CORPORATE GUARANTEED LEASE:

  • 6.5 Years Remaining in the Current Term
  • Tenant Recently Extended Their Lease for an Additional 5 Years
  • Two (2) - Five (5) Year Options
  • Long Term Operating History - 18+ Years
  • NN Lease - Landlord is Responsible for Roof, Structure, and Parking Lot
 

EXXON REFINERY EXPANSION (9.5 MILES FROM SUBJECT):

  • In 2019, Exxon Mobil Approved an Expansion at its Refinery in Beaumont that Could Make it the Largest in the Country
  • Construction on a Third Crude Distillation Unit at the Refinery Began in January of 2019
  • The Refinery Currently Processes 366,000 Barrels of Crude Oil Per Day and Produces 2.8 Billion Gallons of Gasoline a Year
  • The New Unit Would Bring That to Around 616,000 Barrels Per Day, Likely Ranking Exxon's Refinery Ahead of Motiva Enterprises' Refinery in Port Arthur Texas (Currently the Largest Nationwide)
  • The Expansion Project is Expected to Create Up to 1,850 Jobs During Construction and Between 40 and 60 Permanent Jobs Once the Unit is Completed (Estimated Completion Date = 2022)
  • Exxon Mobil Plans to Spend About $1.3 Billion for the Current Refinery Expansion Underway
 

PROXIMITY TO OTHER MAJOR CITIES:

  • Lake Charles, Louisiana | 63 Miles - 1 Hour: 6 Minute Drive
  • Houston, Texas | 93 Miles - 1 Hour: 24 Minute Drive
  • College Station, Texas | 186 Miles - 2 Hour: 50 Minute Drive
  • Austin, Texas | 257 Miles - 3 Hour: 52 Minute Drive
  • San Antonio, Texas | 288 Miles - 4 Hour: 17 Minute Drive
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile = 10,120 Residents; $70,012 Average Household Income
  • 3-Mile = 45,553 Residents; $83,561 Average Household Income
  • 5-Mile = 66,515 Residents; $79,947 Average Household Income
 

TENANT:

  • Advance Auto Parts (NYSE: AAP)
  • Features Strong Investment Grade Credit (BBB) by Standard & Poor's
  • 4,877 Stores Located in 49 States as of December 28, 2019
  • Ranked #317 on the Fortune 500 List

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