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ADVANCE AUTO PARTS | RECENT LEASE EXTENSION 2763 N County Rd W 11,223 SF Retail Building Odessa, TX 79764 $2,145,000 ($191.13/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute Net Lease (Zero Landlord Obligations) Featuring 10% Rental Increases throughout the Initial Term and Options.
- Advance Auto Parts is strategically located at the signalized, hard corner intersection of State Highway 450 and North County Road.
- Densely Populated Area: Features more than 107k People Residing within a 5-Mile Radius and 63k Employees Support the Trade Area.
- Recent Lease Extension and 35+ Year Historical Occupancy Demonstrating Strong Commitment to the Location.
- Advance Auto Parts (NYSE: AAP) has a S&P Credit Rating of “BB+” and is Ranked #358 on the Fortune 500 List w/ an Annual Revenue of more than $9.09 B.
- Odessa, Texas, has seen Consistent growth over the Years, driven by the Energy Sector, Manufacturing, and an Expanding Retail Industry.
EXECUTIVE SUMMARY
Absolute Net Lease | Recent 10- Year Lease Extension | Hub Location for the Area | 35+ Year Historical Occupancy | Near Odessa College & New Tech Odessa | S&P “BB+” Credit Rating | Minutes from Airport | Adjacent to United Supermarkets | Densely Populated Area
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,223 SF
Building Class
B
Year Built
1989
Price
$2,145,000
Price Per SF
$191.13
Cap Rate
6%
NOI
$128,613
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.71 AC
Zoning
HC - Heavy Commercial District
Parking
63 Spaces (5.61 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Advance Auto Parts
- Retailer
- 11,223 SF
- -
- Triple Net
- May 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Advance Auto Parts | Retailer | 11,223 SF | - | Triple Net | May 2034 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13600-02327-00000 | Improvements Assessment | $447,104 |
| Land Assessment | $110,816 | Total Assessment | $557,920 |
PROPERTY TAXES
Parcel Number
13600-02327-00000
Land Assessment
$110,816
Improvements Assessment
$447,104
Total Assessment
$557,920
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ADVANCE AUTO PARTS | RECENT LEASE EXTENSION | 2763 N County Rd W
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