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Advance Auto Parts

Mobile, Alabama

Advance Auto Parts, Inc. (NYSE: AAP) is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of July 13, 2019, Advance operated 4,912 stores and 150 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,250 independently owned Carquest branded stores across these territories, in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. The brand prides itself on not only being a one stop shop for all automotive aftermarket part needs, but also for the reliable advice that all of their employees provide to each and every customer walking through the door. No matter the level of comfort or expertise with automotive upgrades or repairs, Advance Auto Parts strives to provide a knowledgeable and enjoyable shopping experience for everyone who enters their stores

Investment Overview

The subject investment property is situated on S Dauphin Island Parkway, which is one of the main traffic arteries in the city of Mobile. As such, there are, on average, approximately 23,000 vehicles that pass directly in front of the subject property each day. There are more approximately 56,000 individuals residing within a five-mile radius of the property and 234,500 individuals within a ten-mile radius. The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and hospitality accommodations all within close proximity of this property. Major national tenants include: Citi Trends, Regions, BBVA, Piggly Wiggly, Dollar General, CVS, Dollar Tree, O’Reilly Auto Parts, Little Caesar’s, and McDonald’s, as well as numerous other local and national retail and restaurant concepts. In additional to these restaurants and retail concepts, the subject property benefits from its close proximity to two schools: BC Rain High School and Gilliard Elementary School. Together these schools have a total enrollment of nearly 1,500 students. Another attraction to the immediate area is the Mobile Aeroplex at Brookley, which is an industrial complex located on the western shore of Mobile Bay. The Aeroplex is the largest industrial and transportation complex in the region, with approximately 70 companies employing about 3,600 people. Mobile is the county seat of Mobile County as well as the third-most populous city in the U.S. state of Alabama. For those looking to start a business, Mobile has the right combination of low business costs, a skilled workforce in a right-to-work state, an unmatched infrastructure, favorable taxes and incentives, and a high quality of life in a beautiful coastal area. Mobile’s growing business community counts on a strong, talented and dedicated workforce. Abundant education programs ensure local residents have the skills area employers need. Among the most recognized state-led workforce training programs in the country, AIDT offers comprehensive pre-employment selection and on-the-job training specific to a qualifying company’s needs. In Mobile, AIDT operates the Alabama Aviation Training Center, AIDT Maritime Training Center and the Erich Heine Learning Center. Mobile is home to several colleges and universities. The largest is the University of South Alabama, with more than 16,000 students. Coastal Alabama Community College, Spring Hill College and University of Mobile are all privately run. There are also numerous community colleges, training centers and apprenticeship programs, including Bishop State Community College, Alabama Aviation Center and Coastal Alabama Community College. In the spring of 2016, a new 25,000 square-foot advanced manufacturing training facility was announced to help the Alabama Community College System meet employer needs for skilled workers. B.O.R  Eddie Greenhalgh

Key Details

Price:
$632,157
Cap Rate:
8.00%
Annual Rent:
$50,573
Address:
3009 S Dauphin Island Parkway, Mobile, Alabama 36605 United States
Lease Type:
Triple Net (NNN)

Lot Size:
0.64
Building Size:
7,855 SF
Tenant:
Advance Auto Parts

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