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Advance Auto Parts - Altavista, VA
Main St & Wards Rd
1281 Main St
Altavista, VA 24517
Advance Auto Parts OM - Altavista, VA

Net Lease Opportunity | The offering consists of the fee simple interest in a net leased Advance Auto Parts. Double-net leased to Advance Auto Parts, landlord responsibilities are limited to parking lot maintenance, HVAC and property insurance.

Tenant Commitment | Having occupied this location since 2000, Advance Auto Parts has repetitively demonstrated their commitment by consistently exercising options early. They recently amended the lease, exercising their third option early; extending the primary term to December 31, 2025 with one, five-year option thereafter.

Investor Upside | The lease calls for a 27% rental increase upon execution of the fourth and final option.

Investment Grade Tenant | The lease is corporately guaranteed by Advance Auto Parts (NYSE: AAP), rated investment grade BBB- credit with a stable outlook by Standard & Poor’s. Advance Auto Parts continues to be one of the premier automotive part retailers in the United States with fiscal 2017 revenues in excess of $9.37 billion.

Strategic Location | Situated between a Dollar General and O’Reilly’s Auto Parts, Advance Auto Parts is strategically located along Main Street, the primary corridor to the heart of Altavista. The property is adjacent to the Town and Country Shopping Center, a 150,000 square foot community center anchored by Food Lion and Peebles. Other national retailers in close proximity include CVS, KFC, Hardee’s, Wells Fargo, Citgo and Sunoco.

Ideal 1031 Exchange Opportunity | The offering is ideal for an investor in a 1031 exchange seeking predictable passive income with limited management responsibilities. 

 

Demographics

  3 Miles 5 Miles 7 Miles
Population 6,858 9,543 14,318
Households 2,990 4,111 6,031
Avg HH Income ($) 50,291 51,133 52,537
Med HH Income ($) 37,501 38,663 40,138
Median Age 46 46 46
 

Highlights

For Sale
County: Campbell County
Type: For Sale
Acres: 1.04
Year Built: 2000

Director of Single Tenant Net Lease Group

Peter Snell
5225 Wisconsin Avenue, NW, Suite 600
Washington , DC 20015
p.  202-420-7761

Associate

Rich Sillery
5225 Wisconsin Avenue, NW, Suite 600
Washington , DC 20015
p.  202-420-7766

 

Advance Auto Parts - Altavista, VA

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Advance Auto Parts - Altavista, VA

Advance Auto Parts - Altavista, VA

 
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