Advance Auto Parts | Walmart Outparcel

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981 High Point St.
Randleman, NC

Price: $1,514,000

Cap: 6.50%

NOI: $98,400

Building Size: 7,000 SF

Lot Size: .74 AC

Investment Highlights

RECENT 10 YEAR LEASE EXTENSION

• Advance Auto Parts recently exercised an early 10 year lease extension that commenced in November 2022 and expires in December 2032.

• The tenant has been operating successfully at this location for nearly 20 years and this early extension speaks to the tenant’s dedication and confidence in this store and market.

• There are 3, Five year option periods with a 10% rent increase in the first option period and 7% rent increases in the second and third option period.

LANDLORD IS ONLY RESPONSIBLE FOR STRUCTURE

• Rare lease with limited landlord responsibilities of only structure.

• The tenant is fully responsible for all repair and replacement of the roof, parking lot, & HVAC. Tenant is also responsible for all taxes, insurance, and utilities.

OUTPARCEL TO WALMART SUPERCENTER OFF AN INTERSTATE (22,500 VPD)

• Outparcel to Walmart Supercenter which supports over 1.6M customers each year.

• Other outparcels to the Walmart include Wendys, Bojangles, Taco Bell, and Sheetz.

• Positioned on High Point St (14,000 VPD) and is directly off Interstate 73 (22,500 VPD) that connects Randleman to Greensboro.

GREENSBORO – HIGH POINT – WINSTON SALEM MSA

• The Subject property is located 20 minutes south of downtown Greensboro and is a part of the MSA.

• The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem, and Highpoint, NC.

• The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd-largest combined statistical area in the United States

• There are more than 20 Colleges and Universities within the Triad including Wake Forest University, Elon University, and High Point University. These schools have a combined student count of 20,000.

LARGEST AUTOMOTIVE AFTERMARKET PARTS PROVIDER

• Advance Auto Parts is the largest Automotive aftermarket parts provider in North America for both the professional installer and the do-it-yourself customers.

• Advance Auto operates 4,457+ stores in 47 states and generated $11.3B in revenue in 2021.

• Headquartered in Raleigh, NC and has been in business for 92 years.From 2020 to 2021, employment in Chilton, WI grew at a rate of 4.34%, from 2.08k employees to 2.17k employees.

Don McMinn

678-808-2762 | EMAIL >

OFFERING MEMORANDUM

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