53 Elliot Dr
Lebanon, VA 24266

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Advance Auto Parts in Lebanon, Virginia, the county seat of Russell County. This is a long-standing location as the Tenant, Advance Stores Company, Incorporated, has operated here since 2002. Presently, the Tenant has over eight years of lease term remaining on a Modified Net corporate lease after the tenant exercised a recent lease renewal. Inducement for the renewal was minimal, $0.75-per-square-foot, for an additional five years of term. The present rental rate is replaceable at less than $10-per-square-foot. An investor will also benefit from the fee-simple nature of the property which allows for depreciation. This location has a corporate guaranty from Advance Stores Company, Incorporated whose parent company is Advance Auto Parts, Incorporated. Advance Auto Parts is an investment grade credit tenant rated “BBB- / Stable” by Standard & Poor’s and currently operates over 5,000 locations with annual revenue in excess of $9.3 Billion. The Property is well located along Route 19, a north-south US highway, with prominent visibility and synergy with neighboring KFC and Applebee’s. The 7,000-square-foot block building is situated on a 1.20-acre outparcel to a Walmart Supercenter-anchored strip center. This 138,748-square-foot Walmart Supercenter has a strong regional draw as the nearest Walmart location is more than 25 miles away, and co-tenants Dollar Tree, Rent-A- Center and One Main Financial generate additional customer traffic. The Tenant is also in proximity to notable retailers McDonald’s, Wendy’s, Burger King, Taco Bell and competitor O’Reilly Auto Parts. AutoZone does not have a location in the market as the closest store is more than 28 miles south in Bristol, Virginia. Headquartered in Roanoke, Virginia, Advance Auto Parts, Incorporated, is a leading automotive aftermarket parts provider in North America, serving both the professional installer and do-it-yourself customers. Advance Auto Parts operates over 4,981 stores and 139 Worldpac branches in the United States and serves approximately 1,229 independently owned Carquest branded stores in the United States, Puerto Rico, the United States Virgin Islands, and Canada.