Advance Auto Parts | 10+yrs Corp Abs NNN 629 Grants Ferry Rd
6,838 SF Retail Building Flowood, MS 39232 $1,040,000 ($152.09/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- 10+ Years Remaining | Options To Extend | Scheduled Rental Increases
- Grants Ferry Rd (11,000 VPD) | Excellent Visibility | Significant Street Frontage
- Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area
- Rare Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
- Across from 75,000+ SF Shopping Center | Retail Corridor |Strong National/Credit Tenant Presence | Pinelands Development
EXECUTIVE SUMMARY
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Advance Auto Parts investment property located in Flowood, Mississippi. The tenant, Discount Auto Parts, LLC, has more than 10 years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 3.5% increase in September of 2033, and 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,838 SF
Building Class
B
Year Built
1998
Price
$1,040,000
Price Per SF
$152.09
Cap Rate
6.35%
NOI
$66,071
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.16 AC
Zoning
C-3 - General Commercial District
Parking
20 Spaces (2.92 Spaces per 1,000 SF Leased)
Frontage
79’ on Grants Ferry Rd
AMENITIES
- Dedicated Turn Lane
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of October 5, 2024, Advance operated 4,781 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,125 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | H11-000081-00070 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $115,011 |
