Advance Auto Parts

3011 8th Street South, Wisconsin Rapids, WI 54494

$1,512,000

Cap Rate 6.25%

DOM: 144 Updated: 06.03.24 Posted: 11.09.23 Status: Sold 04.01.24

Summary

Price $1,512,000	Built/Renov 2004	Tenant Advance Auto Parts
Cap Rate 6.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 6,783	Lease Start 10-07-2004	#Units 5,105
Price/SF $222.91	Expiration 06-30-2033	Tenant Type Automotive
NOI $94,500	R. Term 8.1	Ownership Fee Simple
Rent/SF $13.93	Increases 10.0%/10/yrs	Pop 5Mi 33,197
Lot/AC 1.01	Options 2/5yrs/10%	AHHI 5Mi $78,627

Lease Highlights

Advance Auto Parts has been operating in this location for almost 20 years
Tenant has 9+ years remaining on the current lease term with 2 (5-year) options to extend
Lease features 10% rental increase at the start of each option
Favorable NN+ lease with landlord responsible for structure and foundation
Corporate guaranteed lease

Location Description

Advance Auto Parts is conveniently located, with excellent access and visibility from 8th Street which sees 35,500+ vehicles passing by daily. The site is located on the area’s main retail corridor with national tenants including Walmart Supercenter, Pick n Save, ALDI, Walgreens, CVS, McDonald’s, Dollar Tree, and many more, creating a strong consumer drive to the trade area. Additionally, it...

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Key Features

Build to suit
In location for years
Dense retail corridor
Near major nationals
Hospital close
Long operation history
Low rent to sales ratio
Favorable NN+ lease
Traded and rated company
Corporate Guarantee

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Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia Wisconsin Rapids, Wisconsin Zip Code 54494 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Advance Auto Parts
Guarantor:Corp T and Rated
Company:Advance Stores Co, Inc
# Units:5,105
Tenant S&P: BB+
Moody’s: Ba2
Stock: NYSE: AAP

About Tenant

Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider that serves both professional installers and do-it-yourself (DIY) customers. Advance is a publicly traded...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,581	24,809	33,265
2023 Total Population :	5,658	24,757	33,295
2023 Employed Civilian Pop :	2,340	10,703	14,277
2023 Total Businesses :	348	1,096	1,365
2023 Average Household Income :	$ 71,884	$ 71,595	$ 76,568
2023 Total Consumer Spending :	$ 168 M	$ 700 M	$ 989 M
2023 Median Age :	50	44	45
2023 Total Households :	2,678	11,141	14,770
2023 Pop Age 25+: Bachelor's Degree :	732	2,533	3,398
2023 Average Home Value :	$ 191,583	$ 201,014	$ 205,496

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
8th St S	Sweat Ave	2017	17,700	0.07 mi
Airport Avenue	8th St S	2021	2,800	0.11 mi
8th St S	Township Ave	2017	19,700	0.14 mi
Airport Ave	6th St S	2017	1,600	0.17 mi
Grove Avenue	Lincoln St	2021	470	0.21 mi
Lincoln St	Shady Ln	2011	2,200	0.28 mi
Lincoln Street	Woodland Dr	2021	1,300	0.28 mi
Two Mile Avenue	8th St S	2021	1,200	0.35 mi
8th Street South	Whitrock Ave	2021	21,200	0.35 mi
8th St S	Pepper Ave	2017	18,400	0.37 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
49378 Views
59 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
51483 Views
61 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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