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.