Advance Auto Parts

New Port Richie, Florida

NNN Pro Group is pleased to present the Exclusive Listing for an Advance Auto Parts located at 10704 US Hwy 19, New Port Richey, FL 34668. The site consists of roughly 12,000 rentable square feet of building space on estimated 1.95-acre parcel of land. This Advance Auto Parts is subject to a 15-year triple-net (NNN) lease and a billboard lease which has a percentage rent on ad revenues. The leases will commence upon store opening, estimated to take place on July 2023. The current annual rent is $256,500 and is scheduled to increase by 10% every 5 years throughout the base term and each of the 3 tenant renewal option periods.

 New 2023-2024 Construction | Store Expected to Open on March 2024
 Long-Term, 15 Year Modified Triple-Net (NNN) Lease | Landlord Only
Responsible for Structure
 10% Rental Escalations Every Five (5) Years Throughout the Base Term and Running into Options
 Three (3), Five (5)-Year Tenant Renewal Option Periods
 Distribution HUB Store – a Larger 12,000 Sq. Ft. Format Advance Auto Parts Store with Additional Room for Inventory. As a HUB Store, Advance Auto Parts Stocks a Higher Quantity of Parts From which All Stores from the District Can Draw From. The HUB Store Ensures that Every Part that is Available Online, is Also Available In The District’s Stores.
 Property Comes With A Billboard – A Secondary Income Stream With Additional Rent | Billboard Lease Has Percentage Rent on Ad Revenues