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8720 NW 63rd StParkville, MO 64152
Advanced Auto Parts | Parkville, MO | 6% Cap
Asset ClassRetail
Cap Rate6%
Advanced Auto Parts | Parkville, MO | 6% Cap
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of an Advance Auto Parts in Parkville, MO. Advance recently extended their lease for an additional 10 years and has (6) - five (5) year options. The Asset is well positioned in a high income suburb of the Kansas City, MO MSA.

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Investment Highlights

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: BBBLONG

OPERATING HISTORY WITH RECENT EXTENSION

  • Tenant has been operating at this location for nearly 20 years
  • Tenant recently signed a 10 year extension, showing commitment to the site
  • Currently operating as Carquest store due to good reconition in market
  • RARE ABS. NNN LEASE STRUCTURE
  • 10 Year Abs. NNN Lease
  • Six (6) - five (5) year options
  • Zero LL responsibilities

LOCATED IN HEALTHY COMMERCIAL NODE

  • Over 292K SF of retail space is located in a half-mile radius boasting a 0% vacancy rate
  • Over 236K SF of Industrial Space in a halfmile
  • radius boasting a 0.5% vacancy rate
  • Nearby national tenants include: Sonic Drive-In, Price Choppers, Ace Hardware and Quick Trip

AFFLUENT TRADE AREA

  • Average Household Income in a 1-mile radius exceeds $120K, providing high discretionary
  • income for the immediate consumer base

KANSAS CITY MSA

  • Kansas City accounts for 20% of the states total employment
  • Over 2.1M people live in the MSA
  • The Metro is expected to add nearly 70K+ people over the next 5 years
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8720 NW 63rd StParkville, MO 64152

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Listing provided by Revere CRE