CARQUEST (Advance Auto Parts) | 3639 Harrison Ave
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CARQUEST (Advance Auto Parts) 3639 Harrison Ave
7,500 SF Retail Building Butte, MT 59701 $1,433,000 ($191/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare Abs. NNN Lease
- Synergies with Nearby Auto Users
- Long Operating History with Recent Extensions
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 13 years
- Tenant recently signed a 10 year extension, showing commitment to the site
- Currently operating as a Carquest store due to good recognition in market
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
Fronting Major Retail Corridor
- Subject site fronts Harrison Ave (22.2K VPD)
- Over 1MSF of retail space is located in a 1-mile radius boasting a 0.7% vacancy rate (nearby retailers: Walmart Supercenter, Staples, Hwy 55, Goodwill, Buffalo Wild Wings, and Subway)
- Over 16K SF of absorption YoY
Accessible Location
- Right in and right out of Harrison Avenue with cross access through the adjacent shopping center, with a dedicated turn lane into the shopping center
Synergies with Nearby Auto Users
- Synergies with nearby auto users help drive tenant sales
- Three auto deals in the immediate area (GM of Butte, Butte Doge, Butte Subaru, and Denny Menholt Ford)
- 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 13 years
- Tenant recently signed a 10 year extension, showing commitment to the site
- Currently operating as a Carquest store due to good recognition in market
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
Fronting Major Retail Corridor
- Subject site fronts Harrison Ave (22.2K VPD)
- Over 1MSF of retail space is located in a 1-mile radius boasting a 0.7% vacancy rate (nearby retailers: Walmart Supercenter, Staples, Hwy 55, Goodwill, Buffalo Wild Wings, and Subway)
- Over 16K SF of absorption YoY
Accessible Location
- Right in and right out of Harrison Avenue with cross access through the adjacent shopping center, with a dedicated turn lane into the shopping center
Synergies with Nearby Auto Users
- Synergies with nearby auto users help drive tenant sales
- Three auto deals in the immediate area (GM of Butte, Butte Doge, Butte Subaru, and Denny Menholt Ford)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,500 SF
Year Built
2011
Price
$1,433,000
Price Per SF
$191
Cap Rate
6%
NOI
$85,953
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.93 AC
Zoning
C-2
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-1198-31-1-05-18-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $931,300 |
PROPERTY TAXES
Parcel Number
01-1198-31-1-05-18-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$931,300
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CARQUEST (Advance Auto Parts) | 3639 Harrison Ave
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