Advance Auto Parts,
Peachtree City, GA Investment Summary
| Price | $3,038,000 |
| Cap Rate | 5.50% |
| NOI | $167,050 |
| 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 | Available |
| 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
» 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
