INVESTMENT HIGHLIGHTS
7-YEAR LEASE
Advance Auto Parts has 7 years remaining on the original 15-year corporate guaranteed lease, with 3, 5-year options, providing an investor with long-term, passive cash flow.
HIGH-QUALITY 2016 CONSTRUCTION
The Property was built in 2016 as a build-to-suit for Advance Auto Parts, featuring high quality construction and finishes.
STRONG CORPORATE GUARANTEE
The Lease is guaranteed by Advance Stores Company, Incorporated (NYSE: AAP) which operate over 4,700 stores across the United States, Canada, Puerto Rico and the U.S. Virgin Islands.
MINIMAL LANDLORD RESPONSIBILITIES
The Lease features minimal Landlord management or repair responsibilities (Landlord responsible for roof, structure, parking lot). The Property was built in 2016, features a 15 year roof warranty, and has no anticipated roof/structure/parking lot capital expenditures for the foreseeable future.
15-YEAR ROOF WARRANTY
The Property was built in 2016 and features a 15-year roof warranty that goes through October 2031.
STRATEGIC, HIGH-VISIBILITY LOCATION
The Property benefits from being directly on Auburn Way (20,000+ VPD) and its close proximity to Auburn’s automotive district including national brands such as Honda, Hyundai, Auburn, Mitsubishi, GMC, Toyota, Les Schwab, Service King Collision, and Caliber Collision. The Property also features large pylon signage and easy ingress/egress from both traffic directions.
LOCATED IN HIGH-GROWTH SUBMARKET
Within a 5-mile radius, there are over 268,000 residents. The population has grown over 26% since 2010 and is projected to increase by another 2% in the next 5 years, with average household incomes exceeding $95,000. Within a 1-mile radius, the population has grown by more than 42% since 2010.
LARGE 0.71 ACRE LOT WITH AMPLE PARKING
The Property features 0.71 acres of land with multiple points of ingress and egress. The Property features approximately 21 parking stalls, providing more than sufficient space for Advance Auto Parts to operate efficiently.
INCOME TAX FREE STATE
Washington State has no state income tax.
Listing Agents:
CLAYTON J. BROWN
