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Advance Auto Parts 1157 E Lee Hwy 6,895 SF Retail Building Chilhowie, VA 24319 $1,937,717 CAD ($281.03 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Lease: Advance Auto Parts occupies the property under a corporately guaranteed lease, offering stable, longterm income.
- Prime Retail Location: Situated along E Lee Highway— Chilhowie’s primary retail corridor—ensuring high visibility and consistent traffic flow.
- High-Traffic Drivers: Located directly across from Chilhowie High School and just minutes from Interstate 81.
- Limited Competition: One of only two auto parts retailers within a 10-mile radius, providing a strategic advantage in the local market.
- Pad to Anchored Center: Positioned as a pad building to a busy Goodwill-anchored shopping center.
EXECUTIVE SUMMARY
Peak Commercial is pleased to present an Exclusive Investment Offering for a single-tenant net-leased property occupied by Advance Auto Parts (“Tenant”), located at 1157 E Lee Hwy, Chilhowie, VA 24319 (the “Property”).
This offering features a freestanding retail building occupied by a nationally recognized automotive parts retailer, Advance Auto Parts, situated along a prominent commercial corridor with excellent visibility and access. The property is strategically positioned adjacent to other national retailers and benefits from strong local traffic drivers, including proximity to Chilhowie High School and Interstate 81.
The subject property consists of a 6,895 square foot building on 10,019 square feet of land and offers a rare opportunity for investors to acquire a stable, long-term income-producing asset with minimal landlord responsibilities
This offering features a freestanding retail building occupied by a nationally recognized automotive parts retailer, Advance Auto Parts, situated along a prominent commercial corridor with excellent visibility and access. The property is strategically positioned adjacent to other national retailers and benefits from strong local traffic drivers, including proximity to Chilhowie High School and Interstate 81.
The subject property consists of a 6,895 square foot building on 10,019 square feet of land and offers a rare opportunity for investors to acquire a stable, long-term income-producing asset with minimal landlord responsibilities
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,895 SF
Building Class
B
Year Built
2014
Price
$1,937,717 CAD
Price Per SF
$281.03 CAD
Cap Rate
7%
NOI
$135,640 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.69
Lot Size
0.23 AC
Opportunity Zone
Yes
Frontage
121’ on E Lee
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 53D3-A-104B | Improvements Assessment | $960,145 CAD |
| Land Assessment | $383,804 CAD | Total Assessment | $1,343,949 CAD |
PROPERTY TAXES
Parcel Number
53D3-A-104B
Land Assessment
$383,804 CAD
Improvements Assessment
$960,145 CAD
Total Assessment
$1,343,949 CAD
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Advance Auto Parts | 1157 E Lee Hwy
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