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Advance Auto Parts

Overview

Advance Auto Parts is a leading automotive aftermarket parts provider in the US. Net lease assets occupied by Advance Auto Parts generally trade between $1.25M – $2M. Advance Auto Parts stores typically range from 6,000 to 7,500 square feet on 0.75 – 1.25 acres. 15-year NN leases are usual (although can vary between 5 and 15 years), under which a landlord is responsible for maintenance of roof and structure (versus NNN basis with no responsibilities), the difference between a NN and NNN lease is usually offset by rent escalations.
Lowest Cap Rate

4.00%

Average Cap Rate

6.24%

Property & Lease

Average Sale Price

$1,250,000 – $2,000,000

Average NOI

$90,000 – $140,000

Building SF

6,000 – 7,500

Lease Term

15 Years

Escalations

Varies

Stock Symbol

NYSE:AAP
Credit Rating

S&P

BBB-

Moody’s

Baa2

Tenants

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