Advance Auto Parts | 157 Park St
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Advance Auto Parts 157 Park St
8,227 SF Retail Building Canton, NC 28716 $571,000 ($69/SF) 6% Cap Rate
Investment Highlights
- Rare Abs. NNN Lease W/ Low Rent
- Corporate Guaranty From Credit Tenant
- Long Operating History
Executive Summary
Corporate Guaranty from Strong Credit Tenant
- Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap. of $3.9B and annual revenue of $11.28B
- Credit Rating: S&P BBB-
Long Operating History with Recent Extensions
- Tenant has been operating at this location for nearly 14 years
- Tenant recently signed a 10 year extension, showing commitment to the site
Rare Abs. NNN Lease Structure
- 10 Year Abs. NNN Lease
- Six (6) - five (5) year options
- Zero LL responsibility
- Tenant is paying below market rent which allows for a healthier rent-to-sales ratio
Nearby Market Drivers
- Over 474K SF of retail space is located in a 1-mile radius (nearby retailers include: Food Lion, Hardee’s, Pizza Hut, and Walgreens)
- Down the road from Canton Middle School (420 students) and Pisgah High School (927 Students)
Accessible Location
- Located off of Park St (17K VPD) with full access into the site
- Less than a half-mile to historic downtown Canton
- Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap. of $3.9B and annual revenue of $11.28B
- Credit Rating: S&P BBB-
Long Operating History with Recent Extensions
- Tenant has been operating at this location for nearly 14 years
- Tenant recently signed a 10 year extension, showing commitment to the site
Rare Abs. NNN Lease Structure
- 10 Year Abs. NNN Lease
- Six (6) - five (5) year options
- Zero LL responsibility
- Tenant is paying below market rent which allows for a healthier rent-to-sales ratio
Nearby Market Drivers
- Over 474K SF of retail space is located in a 1-mile radius (nearby retailers include: Food Lion, Hardee’s, Pizza Hut, and Walgreens)
- Down the road from Canton Middle School (420 students) and Pisgah High School (927 Students)
Accessible Location
- Located off of Park St (17K VPD) with full access into the site
- Less than a half-mile to historic downtown Canton
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,227 SF
Building Class
C
Year Built
2010
Price
$571,000
Price Per SF
$69
Cap Rate
6%
NOI
$34,260
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
0.70 AC
Zoning
CNC-2
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 8657-50-7177 | Improvements Assessment | $319,600 |
| Land Assessment | $174,300 | Total Assessment | $493,900 |
PROPERTY TAXES
Parcel Number
8657-50-7177
Land Assessment
$174,300
Improvements Assessment
$319,600
Total Assessment
$493,900
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Advance Auto Parts | 157 Park St
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