Flowood, MS - Advance Auto Parts

Description:

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Advance Auto Parts investment property located in Flowood, Mississippi. The tenant, Discount Auto Parts, LLC, has more than 10 years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 3.5% increase in September of 2033, and 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The Advance Auto Parts is located near the signalized, hard-corner intersection of State Highway 25 and Grants Ferry Rd, combining to average over 47,000 vehicles passing by daily. State Highway 25 is a major retail thoroughfare serving the city of Flowood. The asset is located within walking distance to several new developments, including The Pinelands Development, which will feature several new tenants such as Dunkin’ Donuts, 7 Brew, Smalls Sliders, Discount Tire, and many more. The property is adjacent to
a 75,000+ square foot shopping center that features tenants such as Dollar General, Subway, and more. The shopping center also includes outparcels of Sonic and Regions Bank. The asset is located within walking distance to a Walmart Supercenter, Aldi, and Kroger. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Target, Lowe’s, Hobby Lobby, Belk, Academy, O’Reilly Auto Parts, AutoZone Auto Parts, Firestone, Tractor Supply Co, Walgreens, Bojangles, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 56,800 with an average household income of $113,889.