Advance Auto Parts

629 Grants Ferry Road, Flowood, MS 39232

$979,000

Cap Rate 6.75%

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DOM: 66 Updated: 07.28.25 Posted: 07.28.25 Status: Active 07.28.25

Summary

Price $979,000	Built/Renov 1998	Tenant Advance Auto Parts
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 6,838	Lease Start 01-21-2020	#Units 4,935
Price/SF $143.17	Expiration 08-31-2035	Tenant Type Automotive
NOI $66,071	R. Term 9.11	Ownership Fee Simple
Rent/SF $9.66	Increases 3.5%/14/yrs	Pop 5Mi 56,810
Lot/AC 1.16	Options 2/5yrs/10%	AHHI 5Mi $113,889

Highlights

The tenant has 10+ Years Remaining on Lease with 2 (5-Year) 2 (5-Year) options to extend
Lease features a scheduled 3.5% Rent Increase in 2033 with 10% Increases at the Beginning of Each Option Period
Absolute NNN Lease I Zero Landlord Responsibilities.
Corporate Guaranteed Lease

Location Description

Advance Auto Parts is located at the signalized intersection of Grants Ferry Road and State Highway 25 (combined 47,000 VPD) in Flowood, MS—a rapidly growing suburb of Jackson. The property benefits from excellent visibility and is adjacent to a 75,000+ SF shopping center featuring tenants such as Dollar General and Subway, with outparcels including Sonic and Regions Bank. It is also within...

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Key Features

Hard corner intersection
Major thoroughfare
Strong tenant synergy
Top 100 MSA
Business growth area
Population increase trend
Long 15+ yr lease
Strong sales history
Absolute NNN
Corporate Guarantee

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Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia Flowood, Mississippi Zip Code 39232 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:4,935
Tenant S&P: BB+
Moody’s: Ba1
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2030 Total Population :	5,876	30,275	57,508
2025 Total Population :	5,723	29,173	55,115
2025 Employed Civilian Pop :	3,240	16,849	31,250
2025 Total Businesses :	257	786	1,558
2025 Average Household Income :	$ 106,845	$ 121,367	$ 122,423
2025 Total Consumer Spending :	$ 211 M	$ 1290 M	$ 2370 M
2025 Median Age :	39	40	41
2025 Total Households :	2,305	12,449	22,694
2025 Pop Age 25+: Bachelor's Degree :	1,216	6,306	11,619
2025 Average Home Value :	$ 262,114	$ 313,060	$ 323,636

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Hwy 25	Albertson Dr	2008	27,000	0.24 mi
	Grants Ferry Rd	2021	3,000	0.34 mi
Rustic Drive	Rustic Cv	2021	90	0.45 mi
Grants Ferry Road	Grants Ferry Cove	2018	2,500	0.57 mi
Grants Ferry Road	Lake Village Cir	2021	10,000	0.62 mi
Grants Ferry Rd	Lake Village Cir	2009	14,185	0.70 mi
Castlewoods Boulevard	Stonecastle Dr	2018	8,000	0.71 mi
Castlewoods Boulevard	Albertson Dr	2021	9,000	0.71 mi
Lakeland Drive	Lakeland Pl	2018	36,000	0.78 mi
Grants Ferry Road	Grants Ferry Cove	2021	2,400	0.81 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

394 Listings
114442 Views
181 Sold

Patrick Luther

SRS National Net Lease Group

Contact

446 Listings
125968 Views
214 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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