Advance Auto Parts

1520 Getwell Rd | Memphis, Tennessee

Case Study

This freestanding facility is located on a corner lot on Getwell Road (35,000+ vehicle trips per day) and in close proximity to Sam’s Club, Family Dollar and I-240/Getwell access ramp. The 7,000 sf facility was developed as “build-to-suit” for Advance auto Parts (NYSE: AAP) which has occupied it for nearly twenty years. The site has been improved with the latest AAP branding interior and exterior upgrades. Store sales for 2014 & 2015 exceeded $1,200,000 giving it a very healthy rent to sales ratio of 6.14%. The surrounding demographics strongly support this retail use. The freestanding building has ample parking and vehicular access that lends itself to a variety of retail uses. Moreover, the contract rent and acquisition cost per square foot are below market. Seller sold because of concerns regarding lease expiration in 2017 and need to reposition capital.

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