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 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.