Advance Auto Parts

629 Grants Ferry Road, Flowood, MS 39232

$979,000

Cap Rate 6.75%

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DOM: 13 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 10.0	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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Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

394 Listings
97000 Views
178 Sold

Patrick Luther

SRS National Net Lease Group

Contact

446 Listings
106924 Views
211 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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