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NAPA Auto Parts | Altoona, PA 213 Union Ave 16,983 SF 100% Leased Retail Building Altoona, PA 16602 $2,259,277 CAD ($133.03 CAD/SF) 7.50% Cap Rate

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Investment Highlights

Corporately guaranteed NAPA Auto Parts backed by investment-grade Genuine Parts Company (NYSE: GPC).
Prime location off I-99 in Altoona’s dominant retail corridor surrounded by major national retailers.
Strong visibility and traffic counts with 75,000+ residents nearby and solid local incomes.

Over 25 years of operating history with multiple lease extensions and a 2018 expansion.
Passive NN lease through June 2031 with minimal landlord responsibilities and one renewal option.
Close to major economic drivers including Penn State Altoona, VA Medical Center, and within 40 miles of Penn State’s main campus.

Executive Summary

CBRE is pleased to exclusively present for sale this 9,100-square-foot NAPA Auto Parts property located on 1.06 acres along E. Plank Road in Altoona, Pennsylvania. The offering represents an attractive investment opportunity backed by a corporately guaranteed lease from Genuine Parts Company (NYSE: GPC), an investment-grade tenant (S&P: BBB) and one of the world’s largest distributors of automotive replacement parts. The NN lease structure limits landlord responsibilities to roof and structure only, providing investors with a passive ownership profile and reliable income stream.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

16,983 SF

Building Class

Year Built

2000

Price

$2,259,277 CAD

Price Per SF

$133.03 CAD

Cap Rate

7.50%

NOI

$169,446 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.37

Lot Size

1.06 AC

Parking

12 Spaces (0.71 Spaces per 1,000 SF Leased)

Frontage

120’ on Union Ave

Pylon Sign

Major Tenants

Retailer
-
-
Double Net
Jun 2031

En 1925, un groupe de vendeurs indépendants de pièces automobiles se réunit à Detroit pour former la National Automotive Parts Association. Leur mission était simple : améliorer la distribution de pièces automobiles pour servir les gens et les entreprises qui comptent de plus en plus sur les voitures et les camions pour leurs besoins de transport. Les magasins et entrepôts NAPA, qui appartenaient à diverses sociétés membres à l'époque, sont rapidement devenus les sources de référence pour les pièces détachées. Carlyle Fraser, fondatrice de Genuine Parts Company, a été l'un des principaux contributeurs aux NAPA au cours de ses premières années. Au fil des décennies, Genuine Parts a commencé à acquérir les autres sociétés membres de NAPA et, en 2012, elle est devenue le dernier membre restant de NAPA, une marque réputée pour la qualité des pièces, la disponibilité rapide et le personnel compétent. Aujourd'hui, le réseau NAPA offre des centaines de milliers de pièces uniques, distribuées dans de nombreux centres de distribution, des milliers de magasins NAPA Auto Parts et encore plus de centres NAPA Auto Care partout aux États-Unis.