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Advance Auto Parts 3130 S Crater Rd 8,075 SF Retail Building Petersburg, VA 23805 $1,697,439 CAD ($210.21 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- CORPORATE GUARANTY FROM STRONG CREDIT TENANT
- LOW RENT, BITE SIZED DEAL
- BUSY COMMUTER CORRIDOR NORTH OF BON SECOURS MEDICAL CENTER
EXECUTIVE SUMMARY
- 10 Year NN Lease with 6 years remaining
- one (1) - five year option with a rent increase of 16.6%
- Tenant is paying below market rent which allows for a healthier rent-to-sales ratio
CORPORATE GUARANTY FROM STRONG CREDIT TENANT
- Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap of $3.9B and annual revenue of $11.28B
- Credit Rating: S&P: BBB
POSITIONED IN A DENSE RETAIL NODE
- Within a 1-mile radius of the site there is more than 977K SF of retail space
- Nearby national retailers include: Ace Hardware, Walmart Supercenter, Roses Express, Ollies Bargain Outlet, Hibbett Sports, Cato Fashions, and more
SYNERGIES WITH LOCAL AUTO SHOPS
- Located directly beside the site is a Pep Boys Auto Service center as well as across the street is an O’Reilly Auto Parts
- According to placer.ai, the Pep boys next door is the top ranked Pep Boys in a 15 mile radius and the O’Reilly Auto Parts ranked in the top 83rd percentile in visits across all car shops and service centers in the country
LONG OPERATING HISTORY WITH RECENT EXTENSION
- Tenant has been operating at this location for over 30 years
- Tenant recently signed a 10 year extension, showing commitment to the site
BUSY COMMUTER CORRIDOR NORTH OF BON SECOURS MEDICAL CENTER
- Site is located off of busy Hwy 301 (21K VPD)
- This auto store is also only 0.6 miles west of busy I-95 (562K VPD)
- Advance Auto Parts is located one mile north of Bon Secours Southside Medical Center which has over 300 bed and employs more than 400 physicians
PROPERTY FACTS
AMENITIES
- Bus Line
- Pylon Sign
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 8,075 SF
- -
- Double Net
- Dec 2031
Advance Auto Parts, Inc. is a publicly traded automotive aftermarket parts retailer (NYSE: AAP) founded on April 29, 1932 by Arthur Taubman. Headquartered in Raleigh, North Carolina, the company operates over 4,000 stores across the United States, Puerto Rico, and Canada, along with Carquest and Worldpac branches. Advance Auto Parts serves both do-it-yourself (DIY) customers and professional installers, offering a wide range of products including batteries, brakes, engine components, and maintenance supplies. The company also provides in-store services such as battery testing, installation, and recycling. With a workforce of approximately 62,800 employees, Advance Auto Parts emphasizes convenience through its e-commerce platform and same-day delivery options. The firm has grown through strategic acquisitions, including Carquest and Worldpac, and continues to expand its footprint while focusing on operational efficiency and customer service.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 8,075 SF | - | Double Net | Dec 2031 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 081-04-0813 | Improvements Assessment | $544,928 CAD |
| Land Assessment | $385,062 CAD | Total Assessment | $929,990 CAD |
PROPERTY TAXES
Presented by
Advance Auto Parts | 3130 S Crater Rd
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