3130 S Crater Rd - Freestanding FOR SALE


Petersburg, VA 23805
$1,216,000 USD
980-498-3293
3130 S Crater Rd, Petersburg, VA for Sale
$1,216,000 USD
Freestanding - FOR SALE
1/4
null | 7.5% Cap Rate

3130 S Crater Rd
Petersburg, VA 23805


HIGHLIGHTS

  • CORPORATE GUARANTY FROM STRONG CREDIT TENANT
  • BUSY COMMUTER CORRIDOR NORTH OF BON SECOURS MEDICAL CENTER
  • LOW RENT, BITE SIZED DEAL

OVERVIEW

LOW RENT, BITE SIZED DEAL - 10 Year NN Lease with 6 years remaining - one (1) - five year option with a rent increase of 16.6% - Tenant is paying below market rent which allows for a healthier rent-to-sales ratio CORPORATE GUARANTY FROM STRONG CREDIT TENANT - Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap of $3.9B and annual revenue of $11.28B - Credit Rating: S&P: BBB POSITIONED IN A DENSE RETAIL NODE - Within a 1-mile radius of the site there is more than 977K SF of retail space - Nearby national retailers include: Ace Hardware, Walmart Supercenter, Roses Express, Ollies Bargain Outlet, Hibbett Sports, Cato Fashions, and more SYNERGIES WITH LOCAL AUTO SHOPS - Located directly beside the site is a Pep Boys Auto Service center as well as across the street is an O’Reilly Auto Parts - According to placer.ai, the Pep boys next door is the top ranked Pep Boys in a 15 mile radius and the O’Reilly Auto Parts ranked in the top 83rd percentile in visits across all car shops and service centers in the country LONG OPERATING HISTORY WITH RECENT EXTENSION - Tenant has been operating at this location for over 30 years - Tenant recently signed a 10 year extension, showing commitment to the site BUSY COMMUTER CORRIDOR NORTH OF BON SECOURS MEDICAL CENTER - Site is located off of busy Hwy 301 (21K VPD) - This auto store is also only 0.6 miles west of busy I-95 (562K VPD) - Advance Auto Parts is located one mile north of Bon Secours Southside Medical Center which has over 300 bed and employs more than 400 physicians

FOR SALE DETAILS

PRICE

$1,216,000 USD

PRICE/SF

$151 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

CROSS STREETS

Wagner Rd

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

B-2

APN/PARCEL ID

081-04-0813

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.