Phoenixville, Pennsylvania – Our Net Lease Properties report is on an Advance Auto Parts as a Tenant for NNN Leased Investments. We found that fairly new net leased property sold in Phoenixville, Pennsylvania. This net leased property has the Building structure that is approximately 6,757-square feet. Phoenixville is approximately 11 miles north-west of “KOP” King of Prussia Mall. King of Prussia Mall is one on the largest retail shopping centers in the Pennsylvania retail market. The King of Prussia Mall Retail Shopping Center has over three million square feet of retail and office space that supports the surrounding sub-markets.
The triple net lease property that sold has Advance Auto Parts with a new triple net lease. This triple net lease property is positioned at 325 Schuylkill Road in Phoenixville, Chester County. This NNN triple net lease property sold for the marketed sales price, which is becoming common with NNN Lease Investments. It sold for $2,700,000 which equates to a 7.76% cap rate. Advance Auto Parts has a new 15-year “NNN” triple-net lease. The net lease Tenant Advance Auto Parts has three “five-year” options with 5% increases in each option. The Net Lease Property Tenant, Advance Auto Parts sells quality, and affordable auto parts.
Advance Auto Parts has a healthy balance sheet and is doing very well compared to many other businesses. Advance Auto Parts is a great Tenant as they have a $1.28 billion net worth, annual revenues over $5 billion. Also Advance Auto Part is currently the second largest auto parts retailer in the country with more than 3,457 stores. Advance Auto Parts strives in raising their sales productivity, expanding their operating margins, generating strong free cash flow and increasing their return on invested capital.
Advance Auto Parts are a terrific Tenant to lease your triple net lease property as in the past three months, Standard & Poor’s raised their credit rating to investment grade at BBB-. We saw a Non-recourse Loan was available for this NNN Lease Property. The Non Recourse Loan had terms that were fixed over 25 years, due in 10 years at an attractive 5.50% loan rate. There is funding available for Commercial Loans to purchase these types of NNN Properties.
This triple net lease property is located in Chester County, 28 miles west of Philadelphia. There were many interested commercial real estate investors for this area given it is the wealthiest county within Pennsylvania. The (NNN) triple net lease property is situated at the intersection of three state routes: 29, 23, and route 113. This is ideal for “NNN” triple net lease properties bringing traffic from not only Chester County but also Montgomery County. There are over 73,999 households within five miles of the net lease investment, Advance Auto Parts, with an average household income over $90,000.
This Advance Auto Parts triple net lease properties seller was a limited liability company. A private investor bought the triple net lease property. This triple net lease property was developed and completed in 2009. The Net Lease Investment sits on approximately 1.9-acres which is adjacent to the Valley Forge Mall. There are also net leased properties with Burger King and McDonald’s in the close vicinity of this retail corridor. Also McDonald’s, Burger King and Advance Auto Parts stores are fine triple net lease properties for a 1031 Exchange replacement property.
Also nearby Net Lease Property Tenant is a Giant Food Grocery Store. Many Florida Commercial Property investors are seeking Grocery Stores for Tenants in Net Lease Investments. The complete modernization of the majority of all Giant Food stores took place from the late 1980s through the mid 1990s. Giant Food had remodels, expansions, and interior upgrades completed.
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