Advance Auto Parts | Outparcel to Winn Dixie Shopping Center
Vero Beach, FL
Price: $2,254,540Cap Rate: Building SF: 6,831 SFLot Size: 1.12 AcresYear Built: 2015Status:

Investment Highlights: 

Investment Grade Credit Tenant – Corporate Guarantee  – The property is leased by Advance Auto Parts,  the largest automotive aftermarket parts provider in North America, and has a corporate guarantee from Advance Auto Parts Inc., which has an investment grade credit rating of BBB- by Standard & Poor’s.

New Long Term Lease – The new 15-year lease features (4) 5-year options to renew with 10% increases in each option, providing an investor with a long-term income stream and a hedge against inflation.

New Construction – The subject property is a brand new build-to-suit project featuring the latest prototype building for an Advance Auto Parts store.

Outparcel to Winn Dixie Shopping Center – The subject property ideally sits on the highly visible front pad of a shopping center anchored by Winn Dixie, a subsidiary of Southeastern Grocers, which is the fifth-largest supermarket chain in the United States based on store count.

Limited Competition – The nearest auto parts store in the trade area is over three miles away assuring the tenant’s profitability at this location and minimizing future vacancy risk.

Dense Residential Housing Population – The subject property is surrounded by a multitude of residential housing projects (51,855 units as of 2016 within a 5-mile radius) lending well to the tenant’s concept and projected long term profitability.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977