Advance Auto Parts

Constructed in 2021, the ±6,912 SF Advance Auto Parts store features the brand’s latest prototype design and occupies a ±0.74-acre site, minimizing near-term capital expenditure requirements.
Lease extends through May 31, 2036, providing ±10.75 years of remaining term, corporately guaranteed by Advance Stores Company, Inc. (NYSE: AAP), a Fortune 500 entity.
Lease includes three (3), five-year renewal options, allowing potential tenancy through 2051 and supporting long-term cash flow visibility.
Advance Auto Parts operates approximately 4,700+ locations across North America. The lease is guaranteed by Advance Stores Company, Inc., which holds a BB+ credit rating with a stable outlook from S&P Global Ratings, reflecting solid liquidity and operational stability.
The property generates an annual base NOI of $172,800, with contractual rent escalations that enhance income durability over the hold period.
Strategic location at the signalized intersection of North Main Street (±27,000 VPD), offering strong visibility within a dense retail corridor anchored by Walmart Supercenter, Aldi, Food Lion, and other national tenants.
The surrounding 5-mile trade area encompasses ±113,842 residents with an average household income of ±$89,197 and over $1.2 billion in annual consumer expenditures.
Located in High Point, NC, part of the Piedmont Triad region, a diversified economic hub supported by key sectors including healthcare, advanced manufacturing, and logistics.
High Point hosts the world’s largest home furnishings trade show, drawing ±70,000 attendees twice annually and driving substantial economic activity.
Proximate to High Point University (±6,300 students), ranked #1 Regional College in the South by U.S. News & World Report, as well as Guilford Technical Community College (±35,000 students) and other major institutions, fostering a skilled labor pool and underpinning long-term regional growth.

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Kyle Matthews