Exmore, VA - Advance Auto Parts

Description:

• The tenant just recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases starting in year 10 and continuing every 5 years thereafter, growing NOI and hedging against inflation
• As of April 19, 2025, Advance operated 4,285 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands
• Tenant pays for utilities, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to slab, foundation, structure & parking area
• Ideal, low-management investment for a passive investor

• The site is located directly across from Shore Plaza, a 130,000 SF shopping center, that is anchored by Food Lion, Subway, and Ace Hardware
• Multiple national/credit tenants in close proximity include Walgreens, McDonald’s, Dollar General, Dollar Tree, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
• Furthermore, the asset is near Occohannock Elementary School (369 students) and Broadwater Academy (300 students), increasing consumer traffic to the immediate trade area
• The asset is located along Lankford Highway which averages 18,000 vehicles passing by daily
• The newly constructed site will feature a state-of-the-art design with high-quality materials
• The asset has excellent visibility via significant street frontage and a large pylon sign
• Multiple points of ingress/egress
• More than 11,900 residents and 4,200 employees support the trade area
• $73,391 average household income