Advance Auto Parts

Highlights:

• Corporate-backed NNN ground lease (zero landlord obligations)
• NOI: $39,600 | Offered at a 6.5% Cap Rate
• Long-term tenancy in place since 2011
• Surrounded by major national retailers and high-density residential
• AADT 14,315
• Strong demographics and retail synergy within Monroe County

Description:

Investor opportunity to acquire a fee simple interest in a corporate-backed NNN ground lease with Advance Auto Parts, located at 527 Spencerport Road in Gates, NY. The tenant has operated at this location since 2011 under a 20-year lease with four (4) five-year options remaining.

This zero-landlord-responsibility lease generates stable rental income with an annual NOI of $39,600 and scheduled rent escalations in option periods. The lease is backed by Advance Stores Company, Incorporated, a Virginia-based corporation and wholly owned subsidiary of Advance Auto Parts, Inc. (NYSE: AAP).

Situated in Front of a retail plaza, the ±0.67-acre site is surrounded by national retailers such as Wegmans, CVS, Aldi, and Planet Fitness, drawing consistent consumer traffic—the property benefits from cross-access within Colonial Plaza and visibility along a key commercial artery.

Located on Spencerport Rd, just West of Long Pond Rd in the suburb of Gates.

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