Advance Auto Parts

10 Putnam Pike, Johnston, RI 02919

$1,533,000

Cap Rate 7.75%

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DOM: 18 Updated: 07.28.25 Posted: 07.28.25 Status: Active 07.28.25

Summary

Price $1,533,000	Built/Renov 1992	Tenant Advance Auto Parts
Cap Rate 7.75%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 5,920	Lease Start 10-06-2005	#Units 4,935
Price/SF $258.95	Expiration 12-31-2033	Tenant Type Automotive
NOI $118,800	R. Term 8.4	Ownership Fee Simple
Rent/SF $20.07	Increases 5.0%/20/yrs	Pop 5Mi 275,403
Lot/AC 0.59	Options 3/5yrs/10%	AHHI 5Mi $84,625

Highlights

Tenant recently extended the lease through December 2033 | 3 (5-Year) Options to Extend
The lease features a 5% rental increase in March 2028 as well as 10% rental increases at the beginning of each option period
Limited Landlord Responsibilities
Corporate NN Lease

Location Description

Advance Auto Parts is strategically positioned at the signalized hard-corner intersection of Putnam Pike (U.S. Highway 44) and George Waterman Road (combined 36,000 VPD) in Johnston, RI, part of the Providence MSA. The property offers excellent visibility and access with close proximity to Interstate 295 (70,300 VPD), a key regional artery. This location benefits from strong tenant synergy,...

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Key Features

Hard corner intersection
Highway location
University college close
Hospital close
Strong tenant synergy
Dense 200M+ pop 5 mi
Top 100 MSA
Long 20+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia Johnston, Rhode Island Zip Code 02919 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 traded...

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Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

394 Listings
97760 Views
178 Sold

Patrick Luther

SRS National Net Lease Group

Contact

446 Listings
107759 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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