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253 W Columbia AveBatesburg-Leesville, SC 29006
Advance Auto Parts | Batesburg-Leesville, SC | 5.75% Cap
Asset ClassRetail
overview of deal

Overview

  • Address: 253 W. Columbia Ave, Batesburg-Leesville, SC 29006
  • Tenant: Advance Auto Parts (Corporate Guarantee)
  • Price: $1,238,000
  • Cap Rate: 5.75%
  • Current NOI: $71,190
  • Term: 10 years remaining
  • Rent Commencement: 5/26/2002
  • Lease Expiration: 7/31/2033
  • Year Built: 2002
  • Building SF: ± 7,000 SF
  • Parcel Size: ± 0.78 Acres
  • Lease Type: NN
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Investment Highlights

Corporate NN Lease

  • Lease is signed with Advance Auto corporate
  • Recent lease extensions provide 10 more years of term
  • Option terms provide 10% rental increase every 5 years
  • Landlord is responsible for roof, structure, and parking lot, and split HVAC replacement with tenant
  • Advance Auto is convicted to the location by operating for 20 years and extending for another 10 years

Name Brand and Credit Tenant

  • Advance Auto Parts is a publicly traded company (NYSE: AAP), with a market capitalization over $3.937B
  • Advance Auto has S&P Credit Rating of BBB-
  • Advance Auto Parts has over 5,200 stores in 47 states

Located on Main Retail Corridor

  • Out Parcel to KJ’s IGA Market
  • Less than a mile from other National Tenants including Walgreens, KFC, Zaxby’s, Bojangles, and McDonalds

Columbia MSA

  • Columbia’s average home price is $162,300, or roughly 35% less than the US Average Home Price, making the city very affordable and causing high growth rates
  • 12 Colleges / Universities are Located in the Central SC Region - Over 34K+ Students enrolled at the University of South Carolina alone
  • Columbia, SC’s population is 137,541

Close Proximity to Batesburg-Leesville Industrial Park

  • 5 minute drive from Batesburg-Leesville Industrial Park a 175 acre industrial park
  • Town of Batesburg-Leesville & Lexington County have jointly invested $3.5M worth of infrastructure improvements
  • Two operators reside in the park: Fisher Tank Company and C.R. Jackson’s new asphalt plant
253 W Columbia AveBatesburg-Leesville, SC 29006

Sales Team

Sam YoungExecutive Vice President, Capital Markets(980) 498-3292syoung@atlanticretail.com
Andrew JomantasVice President(980) 498-3291ajomantas@atlanticretail.com
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Listing provided by Revere CRE