The NNN Pro Group is pleased to present the exclusive listing for the Advance Auto Parts property located at 443 New Park Ave in West Hartford, CT. The property consists of roughly 6,000 rentable square feet of building space on an estimated 0.47 parcel of land. Advance Auto Parts is subject to a long-term lease with 4 years remaining on the term. The current rent is $139,200 with increases at the start of each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term.
✓ Long-Term Occupancy | 15- Year Lease | Tenant Exercised Their First Extension Option
✓ Investment Grade Credit | BBB- (S&P) | Baa2 (Moody’s)
✓ Compelling Real Estate Fundamentals | Located Less Than Three Miles from Hartford, CT
✓ Excellent Ease of Access and Visibility Off New Park Ave
✓ Ranked in the 88th Percentile of all Advance Auto Parts Nationwide on Placer.AI*
About the Investment:
✓ 20-Year Triple-Net (NNN) Lease: At closing the tenant will execute a brand new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities.
✓ Corporate Guaranty: The lease will carry a corporate guaranty from New Potato Creek Holdings, the corporate entity for Tidal Wave Auto Spa.
✓ Attractive Rental Increases: The lease will feature 2.00% annual rental increases that will continue through the base term and into the five, five-year tenant renewal option periods.
✓ Potential Tax Benefits: Qualifies for 80% Bonus Depreciation (please consult your CPA).
