Salyersville, KY - Advance Auto Parts

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed (NYSE: AAP) Advance Auto Parts investment property located in Salyersville, KY. The tenant, Advance Auto Parts, Inc., has occupied the site for over 13-years and has 3 (5-year) options to extend. The lease features a 4.6% rental increase in the first option and 10% in the second and third options, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts is a leading automotive parts provider with over 4,300 stores.

The subject property is strategically positioned along Mountain Parkway (9,600 VPD) the primary transportation corridor connecting the region to Lexington.
The thoroughfare boasts a strong concentration of national retailers including McDonald’s, Wendy’s, Taco Bell, Save-A-Lot grocery, and further quick-service and community retail concepts, increasing consumer traffic throughout the immediate area. The site benefits directly from the ongoing Mountain Parkway Expansion, a landmark $400M+ infrastructure project widening 32 miles of existing parkway to four lanes and constructing 13 new miles of four-lane highway from Salyersville to Prestonsburg. This expansion is projected to dramatically increase regional traffic volumes and economic activity along the corridor. Advance Auto Parts serves as the essential auto parts and services destination for the largely rural, vehicle-dependent trade area of Salyersville. With limited competition in the county, an aging regional vehicle fleet, and residents who depend on personal vehicles as their primary mode of transportation, the store serves a critical role in the local retail industry.

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Listing ID: a28TP000002pYw9YAE