Advance Auto Parts

Advance Auto Parts

1205 Piney Forest Road
Danville, VA

Price: $1,756,000
Cap: 6.00%
NOI: $105,348
Building Size: 7,000 SF
Lot Size: 1.36 AC

Investment Highlights

NEW 10 YEAR LEASE EXTENSION
• Advance Auto Parts recently exercised an early new 10 year lease extension that commenced in November of 2022 and expires in December 2033.
• The early extension speaks to the tenants dedication and confidence in this store and market.
• The tenant has been operating successfully at this location for nearly 20 Years.
• There are 3, Five year options remaining with a 10% increase in the first option period and 7% increases in the last two option periods.
• Tenant is responsible for Roof, Parking lot, HVAC, Taxes, Insurance, and Utilities.
• Landlord is only responsible for structure.

INVESTMENT GRADE TENANT
• Advance Auto Parts is a publicly traded (NYSE:AAP) Fortune 500 company with an investment grade credit rating of BBB-.
• They currently have over 6,290 stores in the U.S., Puerto Rico, Virgin Islands, and Canada.
• Advance Auto Parts has been in business for 88 years and has a current net worth of $3.7 Billion.

ACROSS FROM 135,358 SF WALMART GROCERY ANCHORED CENTER
• The subject property is located on US-29 (26,000 VPD) in Danville, VA (Pittsylvania County)
• The store is well positioned directly across the street from a 135,358 SF Walmart Neighborhood Market & Big Lots Anchored Shopping Center and surrounded by numerous national retailers including Target, The Home Depot, Walmart, Lowe’s Home Improvement, Hobby Lobby and more.
• The 5 Mile Population is nearly 50,000 with an average house hold income of $67,419.

DANVILLE
• Danville is located in south VA on the NC/VA state line and is only 45 minutes away from the Triad Region. The Triad is a region in NC that consists of Winston-Salem, Greensboro, and High Point.
• Home to multiple Colleges and Universities including Averett University (1,109 Students) and Danville Community College (2,813 Students).
• The Danville Regional Airport is an 800 acre airport that supports over 20,000 aircraft operations per year.
• National Retail in Danville includes Target, Walmart, Home Depot, Food Lion, Lowe’s Home Improvement and many more.
• Virginia’s economy has diverse sources of income, including local and federal government, military, farming and high-tech. The state’s average earnings per job was $63,281, the 11th-highest nationwide.

Don McMinn
OFFERING MEMORANDUM

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