Marcus & Millichap is pleased to present a premier net-leased investment opportunity featuring NAPA Auto Parts, operating under a below-market rent structure and backed by a corporate guarantee from Genuine Parts Company (NYSE: GPC). GPC ranks #292 on Forbes’ list of top U.S. companies, holds a BBB credit rating from S&P, and reported 2024 revenues exceeding $23.49 billion—affirming the strength and stability of the guarantor.
The property is secured by an absolute NNN lease originally executed in 1994, with NAPA Auto Parts successfully operating at this location for over 30 years. In a strong show of commitment, the tenant exercised its lease renewal option early in 2022 and invested over $105,000 in capital improvements, including the full replacement of the roof and HVAC systems. This proactive investment underscores the tenant’s long-term operational success and dedication to the site.
Strategically positioned at the signalized intersection of Busch Drive and Main Street, the property benefits from excellent visibility, prominent pylon signage, and exposure to more than 42,000 vehicles per day. It sits directly across from the Anheuser-Busch Brewery—one of the company's top three U.S. production facilities—on a 205-acre campus employing over 1,000 workers and capable of producing up to 9 million barrels annually.
Additionally, the property is surrounded by more than 50 million square feet of industrial warehouse and distribution facilities, placing it in the heart of Jacksonville’s thriving logistics and industrial corridor. This premier location is supported by a robust local workforce, well-aligned with the demands of industrial and distribution-based tenants, further enhancing the long-term viability of the asset.