Advance Auto Parts - NN Investment Opportunity!

Retail-Commercial for Sale
Catylist Listing ID: 30516639
Property Subtypes: Free-Standing Building, Street Retail, Vehicle Related, Other
Building Size (RSF): 6,889 SF
Gross Building Area: 7,000 SF
Gross Land Area: 1 Acre
Sale Price: $1,513,735
Unit Price: $219.73 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.45%
Average Occupancy Rate: 100
Last Updated: 11/22/2019

Overview / Comments

Excellent Investment Property! This busy 6,889 sq ft Advance Auto Parts store is strategically positioned fronting Hwy 394 with immediate access to I-81, Exit 69 at the Blountville / Bristol area of the Tri-Cities region of Northeast Tennessee and Southwest Virginia. The property is zoned B-4 with 17,384 square feet of paved parking on approximately one acre parcel.

The building was a build to suit in 2004 for Advance Stores Company Incorporated and has been operated as a Advance Auto Parts store since. There is a new 5 year lease beginning on 01/01/2020 through 12/31/2024 with one 5 year option to renew. This is a corporate NN lease with Advance Stores Company Inc. and includes a gross sales breakpoint for the percentage rental section of the lease. List price reflects a 6.45% cap rate. Contact agent for further details including financials.

The interchange of I-81 and Hwy 394 was completely redesigned in 2016 to accommodate the large volume of traffic that use this location as main feeder to the many and varying events at the nationally known Bristol Motor Speedway. Other business at this exit include Fireworks Supermarket, BP c-store, Arby's and neighborhood strip center containing Edward Jones, Domino's Pizza and Blountville Family Eyecare.

Current Tenants

Tenant Business Name Advance Auto Parts
Industry Type Retail Trade
SF of Space Occupied 7,000 SF

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 082 050 03320 000 2017
Zoning: B-4
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Largest Nearby Street: Highway 394 at I-81
Feet of Frontage: 174
Traffic/Vehicle Count: 17,966
Highway Access: Interstate 81 at Exit 69
Airports: Tri-cities
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2004
Parking Type: Surface
Parking Description: 17,384 square feet of asphalt paved parking
Air Conditioning: Package Unit
Lot Frontage: 174
Lot Depth: 250
Water Service: Municipal
Sewer Type: Septic
Land Ownership: Private ownership

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,187 11,882 22,521
Median Age: 43.71 43.07 44.3
Households: 946 4,799 9,236

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