Advance Auto Parts NNN Property For Sale — Palmview, TX · 7,000 SF
Palmview, TX 78574
Advance Auto Parts investment opportunity offering an attractive 10.00% cap rate located in Palmview, Texas. The subject property features a 7,000 SF freestanding retail building situated on a 1.24-acre parcel with zero landlord responsibilities (tenant responsible for roof and structure). The original 15-year corporate NNN lease includes approximately 3 years remaining on the base term followed by three 5-year renewal options featuring 5% rent increases in each option period to hedge against inflation. Advance Auto Parts is an investment-grade tenant (S&P: BBB-) operating in a state with no state income tax, surrounded by strong population density exceeding 117,000 residents within a 5-mile radius.
- Address: Palmview, TX 78574
- Asking price $1.42M
- 10.00% cap rate
- NOI $141,483
- 3 years remaining
- NNN lease
- Year built: 2006
- Building size: 7,000 SF
- Lot size: 1.24 acres
- Lease expiration: Mar 14, 2021
- Rent increases: Option 1: $148,557; Option 2: $155,985; Option 3: $163,784
- Guarantor: Corporate
Location
This Advance Auto Parts property is in Palmview, Texas.
Asset type: Retail