Advance Auto Parts

4658 Main St., Jasper, TN 37347

PROPERTY DETAILS

  • Cap Rate 7.70%
  • Leasable Area 7,000 sq ft

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INVESTMENT OVERVIEW

Fortis Net Lease is pleased to present this 7,000 SF Advance Auto Parts located in Jasper, TN. The property is encumbered with a five year NN (Double Net) lease leaving minimal responsibilities, with three and half years remaining on the lease term. Advance Auto Parts recently elected to participate in the replacement of an HVAC unit in 2013, and in September of 2015 extended the term of the lease, showing their commitment to the site. The lease contains one more (5) Yr. Option to renew, with a 5.30% rental rate increase at such time. The lease is corporately guaranteed by Advance Auto Parts Corporation which holds a credit rating of “BBB-”, which is classified as Investment Grade. Tenant pays for Insurance, taxes, and common area maintenance. Landlord is repsonsible for the capital repair and replacement to the roof, structure, and parking lot. Roof was replaced in September of 2015, with EPDM, and comes with a 15 year warranty that expires in 2030. Landlord also is responsible for half of the replacement / repair cost for the HVAC units over $500.

PROPERTY INFORMATION

Price:
$896,364
Cap Rate:
7.70%
Lease Term:
3 years
Status:
Available

LOCATION INFORMATION

Address:
4658 Main St., Jasper, TN 37347


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