This Advance Auto Parts property presents an attractive net-leased investment opportunity in Hemingway, South Carolina. Built in 2006, the property features a 7,000-square-foot facility on a 1.24-acre parcel with ample parking and strong visibility along North Main Street, the community’s primary thoroughfare. The tenant, Advance Stores Company, Inc., operates under a corporate-guaranteed lease, providing investors with a stable income stream backed by an established, publicly traded company (NYSE: AAP).
The lease structure is a NN format, placing roof and structural responsibilities with the landlord, while rent is set at $80,500 annually with 10% escalations every five years during option periods. The lease runs through March 31, 2033, offering approximately seven years of guaranteed initial term and long-term upside via options.
Located 50 miles from Myrtle Beach and near regional growth corridors, the property benefits from steady traffic counts of 8,300 VPD and proximity to existing retail operators including Dollar General, CVS, and Subway. With a purchase price of $1,210,000 and a 6.65% cap rate, this asset is well-suited for 1031 exchange buyers and investors seeking credit-backed, income-producing retail in a growth market.