Property Highlights
Atlantic Capital Partners has been engaged to offer for sale a free-standing, single-tenant, Advance Auto Parts in the growing market of Goldsboro, NC. Advance Auto has been at this location for over 17 years and recently further showcased their commitment to this location by extending their lease for 7 years in July of 2019. This property is located in Goldsboro’s major retail corridor that features large, national retailers, helping drive customers to the property.
- Corporate Guaranty – Advance Auto Parts has over 68,000 employees, 5,200+ locations, and is a publicly traded company (NYSE: AAP)
- Excellent Base Rent Escalations – 35% base rent increase at first renewal option | 5% each option thereafter
- E-Commerce + COVID Resistant Tenant – Auto Parts stores continue to thrive as they have been deemed an essential retailer
- Below Market Rent – Single Tenant Retail properties located within a 1-mile radius of the property boasts a market rental rate of $28/SF | Currently AAP is only paying $12/SF which could lead to significant value-add in the future
- Located at Signalized Hard Corner – N Berkeley Blvd (20,000 VPD) & Graves Dr, helping drive patrons to the property
- Outparcel to Top Performing Shopping Center – Ashley Plaza ranks in the top 19% of shopping centers in NC | Top 23% of all shopping centers in the US
- Strong Regional & National Retailer Presence – Target, Lowe’s, Sam’s Club, Walmart, Hobby Lobby, McDonald’s, Chipotle, Starbucks, and more located in the immediate surrounding area
- Long-Term Tenant Commitment – Advance Auto Parts has been at this location for over 17 years | AAP recently extended their lease for 7 years in 2019