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Advance Auto Parts, Woodstock, GA

Advance Auto Parts

Woodstock, GA

Price $2,970,000
Cap Rate 5.35%
NOI $158,888
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof And Parking Lot, Excluding Structure
Rental Increases 5% Rental Increases Every Five Years During Options
Year Built 2021
Building Size 6,936 SF
Lot Size 1.16 Acres (50,530 SF)
Status Available
Lead Broker Information 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
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

10-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES
» Advance Auto Parts operates over 6,500 stores in the U.S., Puerto Rico, the Virgin Islands, and Canada (NYSE: “AAP”)
» Advance Auto Parts has grown from 2,872 stores in 2005 to 6,500+ locations in 2021
» $10.1 billion generated in 2020 revenue
» 10-year net lease to investment grade tenant rated “BBB-” by S&P and “Baa2” by Moody’s
» 5.00% rental increases in option periods, providing an excellent hedge against inflation
» High-quality 2021 construction

STRATEGIC LOCATION IN GROWING GEORGIA SUBMARKET
» Located along Holly Springs Parkway, a major Woodstock retail corridor which experiences a traffic count of 19,100 vehicles per day
» Population of 141,240 within five miles of the property, providing a consistent customer base for the site
» Less than one mile from Interstate 575, a major north-south thoroughfare traversing the entirety of Woodstock and providing access to Atlanta (79,800 AADT)
» Average annual household income of $109,360 within one mile of the location
» 25 percent population increase within a five-mile radius of the site since 2010, with a 10 percent increase projected over the next five years

LOCATED NEAR LARGE RETAIL CENTERS AND COMMUNITY HUBS
» Shadow-anchored by Toonigh Village Shopping Center (Kroger-anchored)
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Costco, The Home Depot, Chick-fil-A, McDonald’s, Starbucks, and more
» Three miles from The Outlet Shoppes at Atlanta, a premier outlet shopping center featuring 100 nationally known brand name designer stores
» Gateway to Atlanta, the ninth-largest metropolitan area in the United States
» Excellent location in a major commuter corridor, with close proximity to several high-density single family developments



Property Description

This Advance Auto Parts is located along Holly Springs Parkway, a major Woodstock retail corridor which experiences a traffic count of 19,100 vehicles per day. The site is also less than one mile from Interstate 575, a major north-south thoroughfare traversing the entirety of Woodstock and providing access to Atlanta (79,800 AADT). The property is located in a growing area with a population of 141,240 within five miles of the location, providing a consistent customer base for the property. The location benefits from its setting in a growing and affluent area, with a 25 percent population increase within a five-mile radius of the site since 2010, a 10 percent population increase projected over the next five years, and an average annual household income of $109,360 within one mile of the location.

Visibility is increased by the property’s central location near large retail centers and community hubs. The site is shadow-anchored by Toonigh Village Shopping Center, a Kroger-anchored shopping center that includes a Kroger Fuel Center, Jersey Mike’s Subs, and Papa John’s Pizza. The location is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Costco, The Home Depot, Chick-fil-A, McDonald’s, Starbucks, and many more. The property is also three miles from The Outlet Shoppes at Atlanta, a premier outlet shopping center featuring 100 nationally known brand name designer stores. Atlanta, the ninth-largest metropolitan area in the United States, and the site has an excellent location in a major commuter corridor, with close proximity to several high-density single family developments.

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