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Advance Auto Parts, Peachtree City, GA

Advance Auto Parts, Peachtree City, GA


Investment Summary

Price $2,950,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Net, with tenant responsible for taxes, insurance, and all maintenance and repair including the roof, parking lot, and HVAC (Landlord is responsible for slab, foundation, and structure)
Rental Increases 5% rental increases in initial term and option periods
Year Built 2022
Building Size 6,912 SF
Lot Size 1.056 acres (45,999 SF)
Status Closed
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year net lease to investment grade tenant rated “BBB-” by S&P and “Baa2” by Moody’s
» 5% rental increases in initial term and option periods
» Advance Auto Parts (NYSE: “AAP) operates over 6,500 stores in the United States, Puerto Rico, the Virgin Islands, and Canada
» Advance Auto Parts grew from 2,872 stores in 2005 to 6,500+ locations in 2021
» $10.96 billion generated in 2021 revenue
» New 2022 construction featuring Advance Auto Parts’ masonry prototype

EXCELLENT SITE LOCATION ALONG PEACHTREE CITY’S AFFLUENT PRIMARY RETAIL CORRIDOR
» Located along State Route 54/Floy Farr Parkway, Peachtree City’s primary retail corridor, which experiences a traffic count of 26,950 vehicles per day
» Site features cross access to signalized intersection of State Route 54/Floy Farr Parkway and Shiloh Drive
» Population of 66,473 within 5 miles of the property, providing a large and consistent customer base for the site
» High average annual household income of $147,076 within five miles of the location
» 100,000-resident population increase within a 15-mile radius of the site since 2010, illustrating Peachtree City’s rapid and sustainable growth

STRATEGIC PLACEMENT NEAR MAJOR EMPLOYERS ALONG POPULAR COMMUTER CORRIDOR
» Shadow-anchored by a Publix-anchored shopping center
» Surrounded by a strong mix of local and national retailers, including Ace Hardware, Sprouts, CVS Pharmacy, Mavis Tire, Zaxby’s, Starbucks, and many more
» Four miles from Piedmont Fayette Hospital (282 beds, 2,000+ employees), one of Fayette County’s largest employers
» Excellent location in a major commuter corridor, with close proximity to several high-density, single family developments
» Gateway to Atlanta, the ninth-largest metropolitan area in the United States

Property Description

SOLD

» This Advance Auto Parts is located along State Route 54/Floy Farr Parkway, Peachtree City’s primary retail corridor, which experiences a traffic count of 26,950 vehicles per day
» The property is located in a growing area with a population of 66,473 within 5 miles of the location, providing a consistent customer base for the property. The site greatly benefits from its setting in an extremely affluent area as well, with an average annual household income of $147,076 within five miles of the property
» The location also benefits from the recent explosive growth the immediate area has experienced, with an 100,000-resident population increase within a fifteen-mile radius of the site since 2010
» The site is surrounded by a strong mix of local and national businesses, including Ace Hardware, CVS Pharmacy, Zaxby’s, Starbucks, and many more
» The property is also four miles from Piedmont Fayette Hospital (282 beds, 2,000+ employees), one of Fayette County’s largest employers
» Significant traffic is driven to the property by its status as a gateway to Atlanta, the ninth-largest metropolitan area in the United States, and its excellent location in a major commuter corridor, with close proximity to several high-density, single family developments

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