Tenant Description
Advance Auto Parts is headquartered in Roanoke, VA and one of the leading automotive parts providers in North America. Their stores carry a variety of products that serve an aftermarket auto part needs for domestic and import vehicles. As of January 2020 Advance operates approximately 2,000+ stores and 150+ Worldpac branches in the United States, Canada, U.S. Virgin Islands, and Puerto Rico.
What We Like About Advance Auto Parts
Strong Corporate Guarantee, Brand Recognition, Buildings That Can Be Re-Tenanted, Lower Price Point Deals, Generally located in strong retail corridors
What To Look For When Buying An Advance Auto Parts
Is the lease NNN or NN? You need to understand if the landlord does have responsibilities such as roof and structure.
Competition
What Is Sold In An Advance Auto Parts
The company’s stores and branches offer a broad selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
If Advance Auto Parts Vacates, How Do I Re-Tenant The Building?
Dollar Stores such as Dollar General, Family Dollar, and Dollar Tree often backfill old vacant auto parts buildings. Medical uses such as Davita Dialysis and Fresenius have also taken over this footprint. Like any investment in the triple net sector, you must do your research on how strong the intrinsics of the real estate are. Not all Advance Auto Parts will be located in dense retail corridors.
Advance Auto Parts Website
https://shop.advanceautoparts.com/
Corporate Office Location
5008 Airport Road – Roanoke, Virginia 24012
Fast Facts
Advance Auto Parts is ranked #326 on the 2019 Fortune 500 “World’s Biggest Public Companies”
In January 2005, Advanced Auto Parts was named the “Best Managed Company in America” in the retail sector by Forbes magazine.
In November 2018, Advance Auto Parts was honored by Building Homes for Heroes at its 8th Annual Honoree Dinner. The organization has helped raise more than $10 million for Building Homes for Heroes since 2011.
