Advance Auto Parts

505 Veterans Boulevard, Del Rio, TX 78840

$1,411,200

Cap Rate 6.25%

Updated: 04.22.24 Posted: 09.19.23 Status: Sold

Summary

Price $1,411,200	Built/Renov 2005	Tenant Advance Auto Parts
Cap Rate 6.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 7,000	Lease Start 08-01-2023	#Units 5,086
Price/SF $201.60	Expiration 07-31-2033	Tenant Type Automotive
NOI $88,200	R. Term 8.2	Ownership Fee Simple
Rent/SF $12.60	Increases 10.0%/5/yrs	Pop 5Mi 41,687
Lot/AC 0.93	Options 3/5yrs/10%	AHHI 5Mi $68,687

Connor Shell

STREAM Capital Partners

Contact

Lease Highlights

Advance Auto Parts has been operating at this location for 18+ years
The tenant recently signed a new 10-year lease extension with 3 (5-year) options to renew
Lease features 10% rental increases in each option period
Favorable NN+ lease with landlord responsible for the structure
Corporate guaranteed lease
Income tax free state

Location Description

This 7,000 SF Advance Auto Parts is located on .93 acres along Veterans Boulevard, which sees 22,081 vehicles passing by daily. The site benefits from limited completion, as it Is the only Advance Auto Parts within the Del Rio market. Nearby retailers include Ashley, Tractor Supply Co., Walgreens, Aaron’s, HEB and more, creating a strong consumer drive to the trade area. There are an estimated...

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Key Features

In location for years
Near major nationals
Highway location
Income tax free state
Long operation history
Recently extended lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Advance Auto Parts Wikipedia Advance Auto Parts Wikipedia Del Rio, Texas Zip Code 78840 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:5,086
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NYSE: AAP

About Tenant

Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider that serves both professional installer and do it yourself (DIY) customers. Founded in 1932, Advance now...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,541	32,827	41,033
2023 Total Population :	9,749	33,446	41,687
2023 Employed Civilian Pop :	3,868	14,583	17,744
2023 Total Businesses :	586	1,176	1,260
2023 Average Household Income :	$ 51,028	$ 66,405	$ 68,687
2023 Total Consumer Spending :	$ 159 M	$ 686 M	$ 838 M
2023 Median Age :	36	35	35
2023 Total Households :	3,496	11,685	13,814
2023 Pop Age 25+: Bachelor's Degree :	514	2,935	3,452
2023 Average Home Value :	$ 115,087	$ 143,267	$ 155,050

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Veterans Boulevard	E 1st St	2020	18,955	0.22 mi
East Gibbs Street	Ave E	2021	17,205	0.26 mi
E Gibbs St	Ave D	2002	14,500	0.29 mi
N Avenue F	Converse St	2002	14,200	0.30 mi
Spur 297	Converse St	2021	12,444	0.31 mi
E Garfield St	Borroum St	2002	5,800	0.44 mi
East Garfield Street	Washington St	2020	6,269	0.49 mi
East Garfield Street	S Ave F	2021	10,686	0.52 mi
E Garfield St	Pecan St	2002	12,200	0.54 mi
East Ogden Street	Pine St	2021	5,304	0.65 mi

Listing Broker

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