Assignment – Advance Auto Parts 2019-04-10T15:53:33+00:00

POWDER SPRINGS, GA

ADVANCE AUTO PARTS

  • PRICE $1,191,000

  • NOI $83,360

  • SQUARE FEET 7,000

  • Year Built 1999

  • LEASE TYPE NN

OFFERING MEMORANDUM

INVESTMENT SUMMARY

The Chetek Group of Marcus & Millichap is pleased to present the exceptional opportunity to acquire a 100% fee-simple single-tenant NN Advance Auto (“The Property), located at 6395 Hiram Douglasville, Hwy., Powder Springs, GA 30127. The property consists of a 7,000 SF building on 1 acre of land. Advance Auto was constructed in 1999 and is on the original lease term with an option for a 5-year renewal among expiration. The current lease runs through 12/31/2023. The Property is well positioned near the intersection of Hiram Douglasville Hwy. and Brownsville Rd. and Sweetwater Church Rd. The property is strategically located and neighbors both a Dollar general to its north and a Chevron gas station to its south. This location is open 7 days a week and offers a variety of free services, like loaner tools, battery testing and installation, check engine light testing, wiper blade installation, and more complimentary services to assist their customers’ needs. From basic repairs, routine maintenance or large-scale projects, Advance Auto has a deep selection of inventory for all automotive needs. The Property serves a population of 76,852 within a five-mile radius and 321,100 within a ten-mile radius. The average household income in the five-mile radius is $67,967 and the ten-mile radius is $73,831. 

The Property is being offered at a 7.0% cap rate totaling $1,191,000

LISTING HIGHLIGHTS

As of January 2019, Advance Auto Parts, Inc. has over 5,200 locations.

NN Lease (Landlord responsible for Roof & Structure only).

$83,370 NOI.

Located just 25 miles northwest of Atlanta, GA.

2018-2023 Growth Projection (7%).

4.75 years remaining on current lease with an additional 5-year option upon expiration.

4.20% rent increase on next option period.

The property is well-positioned in between a Dollar General and a Chevron gas station on the corner of Hiram Douglasville Hwy and Brownsville Road.

Hiram Douglasville Hwy, Brownsville Road, Sweetwater Chruch Road combine for 31,640 VPD.

OFFERING MEMORANDUM